Havemeyer Place LP Purchases New Position in Builders FirstSource, Inc. $BLDR

Havemeyer Place LP purchased a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) in the 4th quarter, Holdings Channel reports. The fund purchased 25,249 shares of the company’s stock, valued at approximately $2,598,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp increased its position in shares of Builders FirstSource by 0.6% during the second quarter. State Street Corp now owns 5,026,553 shares of the company’s stock valued at $586,548,000 after acquiring an additional 29,443 shares in the last quarter. Capital International Investors bought a new stake in shares of Builders FirstSource during the third quarter valued at approximately $429,640,000. Geode Capital Management LLC increased its position in shares of 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 acquiring an additional 14,420 shares in the last quarter. Sands Capital Management LLC boosted its holdings in Builders FirstSource by 139.1% in the third quarter. Sands Capital Management LLC now owns 2,430,902 shares of the company’s stock worth $294,747,000 after purchasing an additional 1,414,129 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Builders FirstSource by 99,084.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,241,561 shares of the company’s stock worth $230,634,000 after purchasing an additional 2,239,301 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

BLDR has been the topic of several research reports. UBS Group dropped their target price on shares of Builders FirstSource from $143.00 to $122.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Zacks Research cut shares of Builders FirstSource from a “hold” rating to a “strong sell” rating in a research note on Friday, May 1st. Stephens dropped their price target on shares of Builders FirstSource from $125.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Monday, April 27th. Raymond James Financial lowered their target price on shares of Builders FirstSource from $140.00 to $100.00 in a research note on Friday, May 1st. Finally, Oppenheimer set a $121.00 target price on shares of Builders FirstSource in a research note on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $101.88.

Builders FirstSource Stock Performance

Builders FirstSource stock opened at $73.57 on Friday. The company’s 50-day moving average price is $79.73 and its 200-day moving average price is $97.94. Builders FirstSource, Inc. has a twelve month low of $65.10 and a twelve month high of $151.03. The company has a quick ratio of 1.09, a current ratio of 1.76 and a debt-to-equity ratio of 1.15. The company has a market cap of $7.91 billion, a PE ratio of 28.19, a price-to-earnings-growth ratio of 1.77 and a beta of 1.44.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.27 EPS for the quarter, missing the consensus estimate 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 business’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.51 earnings per share. On average, equities research analysts forecast that Builders FirstSource, Inc. will post 4.26 EPS for the current fiscal year.

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

Insider Buying and Selling

In other news, Director Paul S. Levy purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average cost of $87.73 per share, for a total transaction of $4,386,500.00. Following the acquisition, the director owned 1,727,191 shares of the company’s stock, valued at approximately $151,526,466.43. This trade represents a 2.98% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.70% of the company’s stock.

About Builders FirstSource

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.