Bank of America Corp DE Cuts Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Bank of America Corp DE trimmed its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 26.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 333,105 shares of the company’s stock after selling 117,588 shares during the period. Bank of America Corp DE owned approximately 0.29% of Builders FirstSource worth $47,611,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BLDR. Norges Bank acquired a new stake in Builders FirstSource during the 4th quarter valued at $199,890,000. Voya Investment Management LLC grew its holdings in Builders FirstSource by 174.2% during the 4th quarter. Voya Investment Management LLC now owns 1,416,280 shares of the company’s stock valued at $202,374,000 after purchasing an additional 899,841 shares in the last quarter. FMR LLC grew its holdings in Builders FirstSource by 7.3% during the 4th quarter. FMR LLC now owns 10,898,366 shares of the company’s stock valued at $1,557,703,000 after purchasing an additional 740,214 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in Builders FirstSource by 15,533.9% during the 4th quarter. Proficio Capital Partners LLC now owns 649,903 shares of the company’s stock valued at $92,891,000 after purchasing an additional 645,746 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its holdings in Builders FirstSource by 47.2% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,943,439 shares of the company’s stock worth $277,776,000 after acquiring an additional 623,583 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on BLDR shares. Royal Bank of Canada decreased their price objective on shares of Builders FirstSource from $162.00 to $132.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. UBS Group decreased their price objective on shares of Builders FirstSource from $180.00 to $163.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Raymond James reissued an “outperform” rating and set a $140.00 price objective (down from $170.00) on shares of Builders FirstSource in a report on Friday, May 2nd. Benchmark reduced their price target on shares of Builders FirstSource from $200.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Finally, Loop Capital reduced their price target on shares of Builders FirstSource from $190.00 to $170.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.58.

Builders FirstSource Trading Down 3.6%

Shares of NYSE:BLDR opened at $119.37 on Thursday. The company has a market cap of $13.19 billion, a PE ratio of 13.18, a P/E/G ratio of 0.80 and a beta of 1.79. The company’s 50-day moving average price is $121.20 and its 200 day moving average price is $147.38. 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 quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 0.86.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. Builders FirstSource had a net margin of 6.57% and a return on equity of 30.54%. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same period in the previous year, the firm earned $2.65 EPS. Builders FirstSource’s revenue was down 6.0% on a year-over-year basis. Sell-side analysts anticipate that Builders FirstSource, Inc. will post 11.59 earnings per share for the current year.

Builders FirstSource announced that its board has approved a share repurchase program on Thursday, May 1st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

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.