Redwood Investment Management LLC Buys New Stake in Builders FirstSource, Inc. (NYSE:BLDR)

Redwood Investment Management LLC acquired a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,023 shares of the company’s stock, valued at approximately $1,433,000.

Several other large investors have also recently modified their holdings of the stock. Czech National Bank lifted its stake in Builders FirstSource by 5.2% in the fourth quarter. Czech National Bank now owns 24,953 shares of the company’s stock worth $3,567,000 after purchasing an additional 1,231 shares during the last quarter. Miracle Mile Advisors LLC bought a new position in Builders FirstSource in the 4th quarter valued at $405,000. Assenagon Asset Management S.A. increased its stake in Builders FirstSource by 211.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 195,658 shares of the company’s stock worth $27,965,000 after buying an additional 132,913 shares during the period. Park Avenue Securities LLC increased its stake in Builders FirstSource by 46.5% in the 4th quarter. Park Avenue Securities LLC now owns 6,088 shares of the company’s stock worth $870,000 after buying an additional 1,932 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Builders FirstSource by 104.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 655 shares of the company’s stock valued at $94,000 after buying an additional 334 shares during the period. Institutional investors own 95.53% of the company’s stock.

Builders FirstSource Stock Down 1.4%

BLDR stock opened at $117.87 on Friday. The company’s 50 day moving average price is $120.84 and its 200 day moving average price is $146.92. The firm has a market capitalization of $13.03 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 0.80 and a beta of 1.79. Builders FirstSource, Inc. has a fifty-two week low of $103.81 and a fifty-two week high of $203.14. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.16 and a current ratio of 1.77.

Builders FirstSource (NYSE:BLDR) last posted its earnings results on Thursday, May 1st. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.50 by $0.01. Builders FirstSource had a return on equity of 30.54% and a net margin of 6.57%. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the prior year, the company posted $2.65 earnings per share. Builders FirstSource’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, equities research analysts anticipate that Builders FirstSource, Inc. will post 11.59 EPS for the current fiscal year.

Builders FirstSource announced that its Board of Directors has authorized a stock buyback program on Thursday, May 1st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages recently issued reports on BLDR. The Goldman Sachs Group cut their price objective on shares of Builders FirstSource from $200.00 to $180.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Loop Capital reduced their price objective on shares of Builders FirstSource from $190.00 to $170.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Benchmark lowered their target price on shares of Builders FirstSource from $200.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Stephens cut their price target on shares of Builders FirstSource from $145.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on Builders FirstSource in a report on Tuesday, April 1st. They set a “buy” rating and a $151.00 price objective for the company. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $167.58.

Builders FirstSource Company Profile

Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, floor trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products comprising intricate mouldings, stair parts, and columns under the Synboard brand name.