Allspring Global Investments Holdings LLC Increases Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Allspring Global Investments Holdings LLC increased its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 189.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 72,065 shares of the company’s stock after purchasing an additional 47,201 shares during the period. Allspring Global Investments Holdings LLC owned 0.06% of Builders FirstSource worth $9,052,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Smartleaf Asset Management LLC lifted its position in Builders FirstSource by 34.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 518 shares of the company’s stock valued at $74,000 after acquiring an additional 134 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Builders FirstSource by 34.3% during the 4th quarter. Jones Financial Companies Lllp now owns 3,245 shares of the company’s stock valued at $464,000 after purchasing an additional 828 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Builders FirstSource in the 4th quarter worth $34,000. Charles Schwab Investment Management Inc. boosted its position in shares of Builders FirstSource by 6.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 833,498 shares of the company’s stock worth $119,132,000 after purchasing an additional 47,656 shares in the last quarter. Finally, Keybank National Association OH purchased a new position in Builders FirstSource during the 4th quarter worth $581,000. Institutional investors own 95.53% of the company’s stock.

Insider Transactions at Builders FirstSource

In other Builders FirstSource news, Director Paul S. Levy bought 283,517 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were purchased at an average price of $111.21 per share, for a total transaction of $31,529,925.57. Following the transaction, the director directly owned 1,672,687 shares of the company’s stock, valued at approximately $186,019,521.27. This represents a 20.41% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dirkson R. Charles purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was bought at an average cost of $109.67 per share, with a total value of $548,350.00. Following the acquisition, the director owned 5,000 shares in the company, valued at $548,350. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 505,000 shares of company stock worth $56,032,120 over the last 90 days. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BLDR shares. Loop Capital decreased their price target on Builders FirstSource from $190.00 to $170.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $132.00 price objective on shares of Builders FirstSource in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Builders FirstSource in a research note on Tuesday, April 1st. They issued a “buy” rating and a $151.00 target price for the company. Barclays dropped their target price on shares of Builders FirstSource from $151.00 to $137.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Finally, BMO Capital Markets decreased their price target on shares of Builders FirstSource from $146.00 to $135.00 and set a “market perform” rating for the company in a report on Monday, May 5th. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $163.11.

Builders FirstSource Trading Down 1.2%

Builders FirstSource stock opened at $126.41 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.07 and a debt-to-equity ratio of 1.02. The firm has a market cap of $13.97 billion, a PE ratio of 16.21, a P/E/G ratio of 8.10 and a beta of 1.69. The stock’s 50 day simple moving average is $114.38 and its two-hundred day simple moving average is $131.32. Builders FirstSource, Inc. has a 12 month low of $102.60 and a 12 month high of $203.14.

Builders FirstSource (NYSE:BLDR) last released its quarterly 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 net margin of 5.66% and a return on equity of 28.02%. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter last year, the business earned $2.65 earnings per share. The firm’s revenue was down 6.0% on a year-over-year basis. Analysts anticipate that Builders FirstSource, Inc. will post 11.59 earnings per share for the current year.

Builders FirstSource announced that its Board of Directors has initiated a stock 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 reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Builders FirstSource 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.