Neo Ivy Capital Management Takes $2.91 Million Position in Builders FirstSource, Inc. (NYSE:BLDR)

Neo Ivy Capital Management purchased a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,388 shares of the company’s stock, valued at approximately $2,914,000.

A number of other institutional investors also recently modified their holdings of the company. Merit Financial Group LLC bought a new stake in Builders FirstSource in the 4th quarter valued at $251,000. Diversify Advisory Services LLC grew its position in shares of Builders FirstSource by 103.1% during the 4th quarter. Diversify Advisory Services LLC now owns 2,701 shares of the company’s stock worth $378,000 after purchasing an additional 1,371 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Builders FirstSource by 108.3% during the 4th quarter. UMB Bank n.a. now owns 629 shares of the company’s stock worth $90,000 after acquiring an additional 327 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Builders FirstSource by 8.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 9,420 shares of the company’s stock valued at $1,346,000 after purchasing an additional 746 shares during the last quarter. Finally, Impact Partnership Wealth LLC bought a new position in Builders FirstSource in the 4th quarter valued at approximately $350,000. Institutional investors own 95.53% of the company’s stock.

Builders FirstSource Stock Up 1.3%

Builders FirstSource stock opened at $109.76 on Friday. Builders FirstSource, Inc. has a fifty-two week low of $103.81 and a fifty-two week high of $203.14. The stock has a market cap of $12.13 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 0.80 and a beta of 1.79. The firm’s 50-day simple moving average is $119.52 and its 200 day simple moving average is $144.92. 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 released its quarterly earnings results on Thursday, May 1st. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.01. Builders FirstSource had a net margin of 6.57% and a return on equity of 30.54%. The business had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.67 billion. During the same period in the previous year, the company earned $2.65 earnings per share. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. Research analysts predict that Builders FirstSource, Inc. will post 11.59 EPS for the current fiscal year.

Builders FirstSource declared that its board has authorized a share buyback plan on Thursday, May 1st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BLDR shares. Robert W. Baird set a $130.00 price target on shares of Builders FirstSource in a research note on Friday, May 2nd. Loop Capital dropped their price target 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. Truist Financial dropped their price target on shares of Builders FirstSource from $220.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Raymond James reaffirmed an “outperform” rating and set a $140.00 price target (down previously from $170.00) on shares of Builders FirstSource in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group lowered their target price on shares of Builders FirstSource from $200.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Builders FirstSource has a consensus rating of “Moderate Buy” and a consensus price target of $167.58.

About Builders FirstSource

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.