Builders FirstSource, Inc. $BLDR Shares Purchased by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC grew its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 265.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,685 shares of the company’s stock after buying an additional 54,977 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Builders FirstSource were worth $6,772,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Builders FirstSource during the second quarter valued at approximately $700,934,000. Northwestern Mutual Wealth Management Co. raised its holdings in Builders FirstSource by 99,084.1% during 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 in the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Builders FirstSource in the second quarter worth approximately $134,908,000. Norges Bank bought a new position in Builders FirstSource during the 4th quarter valued at $109,269,000. Finally, Boston Partners boosted its stake in Builders FirstSource by 73.0% during the 3rd quarter. Boston Partners now owns 1,852,292 shares of the company’s stock valued at $224,627,000 after purchasing an additional 781,506 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors.

Builders FirstSource Price Performance

NYSE BLDR opened at $67.69 on Wednesday. The stock has a market capitalization of $7.28 billion, a P/E ratio of 74.39, a P/E/G ratio of 2.35 and a beta of 1.44. Builders FirstSource, Inc. has a 1 year low of $65.10 and a 1 year high of $151.03. The business’s fifty day moving average is $76.33 and its two-hundred day moving average is $85.30. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.09 and a current ratio of 1.79.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.08). The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.91 billion. Builders FirstSource had a net margin of 0.71% and a return on equity of 11.73%. Builders FirstSource’s revenue was down 8.8% on a year-over-year basis. During the same quarter last year, the company posted $2.38 EPS. On average, research analysts forecast that Builders FirstSource, Inc. will post 3.15 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BLDR. Raymond James Financial lowered their price target on Builders FirstSource from $140.00 to $100.00 in a research report on Friday, May 1st. KeyCorp decreased their target price on Builders FirstSource from $100.00 to $91.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. BMO Capital Markets reaffirmed a “market perform” rating and set a $80.00 target price on shares of Builders FirstSource in a report on Thursday, August 6th. Barclays dropped their price target on shares of Builders FirstSource from $93.00 to $81.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Finally, Benchmark cut their price target on shares of Builders FirstSource from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Nine research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $90.35.

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.