Turtle Creek Asset Management Inc. Boosts Holdings in Builders FirstSource, Inc. $BLDR

Turtle Creek Asset Management Inc. lifted its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 40.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,990 shares of the company’s stock after acquiring an additional 27,350 shares during the period. Builders FirstSource makes up approximately 0.3% of Turtle Creek Asset Management Inc.’s portfolio, making the stock its 29th largest position. Turtle Creek Asset Management Inc.’s holdings in Builders FirstSource were worth $7,821,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BLDR. State Street Corp raised its holdings in shares of Builders FirstSource by 2.3% during the fourth quarter. State Street Corp now owns 5,108,120 shares of the company’s stock valued at $525,574,000 after purchasing an additional 115,857 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Builders FirstSource by 2.3% during the 4th quarter. Wellington Management Group LLP now owns 3,316,797 shares of the company’s stock valued at $341,265,000 after purchasing an additional 73,835 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Builders FirstSource by 12.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,967,744 shares of the company’s stock worth $244,301,000 after purchasing an additional 325,935 shares during the period. Geode Capital Management LLC grew its position in Builders FirstSource by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 2,817,958 shares of the company’s stock valued at $288,789,000 after buying an additional 14,420 shares during the period. Finally, Sands Capital Management LLC grew its position in shares of Builders FirstSource by 13.5% during the 4th quarter. Sands Capital Management LLC now owns 2,757,969 shares of the company’s stock valued at $283,767,000 after acquiring an additional 327,067 shares during the period. 95.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BLDR shares. DA Davidson set a $100.00 price target on shares of Builders FirstSource in a report on Thursday, July 23rd. Oppenheimer reduced their price target on shares of Builders FirstSource from $121.00 to $110.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Truist Financial reduced their price objective on Builders FirstSource from $145.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Robert W. Baird reduced their target price on shares of Builders FirstSource from $125.00 to $95.00 in a report on Friday, May 1st. Finally, KeyCorp dropped their price target on Builders FirstSource from $100.00 to $91.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. Nine investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $99.97.

Builders FirstSource Stock Down 8.1%

Shares of NYSE BLDR opened at $67.69 on Thursday. Builders FirstSource, Inc. has a 52-week low of $65.10 and a 52-week high of $151.03. The firm has a market capitalization of $7.28 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 1.81 and a beta of 1.42. The stock has a 50 day moving average price of $77.23 and a 200 day moving average price of $90.42. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.09 and a current ratio of 1.76.

Builders FirstSource (NYSE:BLDR) last issued its earnings results on Thursday, April 30th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.12). The firm had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.17 billion. Builders FirstSource had a net margin of 1.97% and a return on equity of 14.89%. The company’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same period last year, the firm earned $1.51 earnings per share. Sell-side analysts expect that Builders FirstSource, Inc. will post 4.16 earnings per share for the current year.

Builders FirstSource announced that its board has approved a stock repurchase plan on Thursday, April 30th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Builders FirstSource Profile

Builders FirstSource, Inc is a leading supplier of structural and value-added building products and services to professional contractors, homebuilders and remodelers. The company provides a comprehensive range of materials and prefabricated components that support all phases of residential construction, from site development and framing to finishing and installation.

The company’s core offerings include lumber and lumber sheet goods, windows and doors, millwork, roofing and siding, and engineered wood products such as roof and floor trusses.