M&T Bank Corp Lowers Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

M&T Bank Corp lessened its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 21.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 4,241 shares of the company’s stock after selling 1,152 shares during the period. M&T Bank Corp’s holdings in Builders FirstSource were worth $529,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. grew its stake in shares of Builders FirstSource by 18.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 20,010 shares of the company’s stock worth $2,500,000 after acquiring an additional 3,131 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Builders FirstSource by 41.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,566 shares of the company’s stock worth $945,000 after purchasing an additional 2,216 shares in the last quarter. Altus Wealth Group LLC grew its position in Builders FirstSource by 11.2% during the 1st quarter. Altus Wealth Group LLC now owns 45,021 shares of the company’s stock valued at $5,625,000 after purchasing an additional 4,549 shares during the last quarter. Sowell Financial Services LLC bought a new stake in Builders FirstSource during the 1st quarter valued at about $1,012,000. Finally, Benjamin Edwards Inc. raised its holdings in Builders FirstSource by 36.1% in the fourth quarter. Benjamin Edwards Inc. now owns 11,188 shares of the company’s stock worth $1,599,000 after buying an additional 2,967 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Paul S. Levy purchased 283,517 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average cost of $111.21 per share, with a total value of $31,529,925.57. Following the completion of the acquisition, the director 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dirkson R. Charles bought 5,000 shares of the stock in a transaction on Tuesday, May 27th. The shares were acquired at an average cost of $109.67 per share, for a total transaction of $548,350.00. Following the purchase, the director owned 5,000 shares in the company, valued at $548,350. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 505,000 shares of company stock valued at $56,032,120. Company insiders own 1.80% of the company’s stock.

Builders FirstSource Trading Down 3.8%

Shares of Builders FirstSource stock opened at $126.01 on Wednesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.82 and a quick ratio of 1.07. The stock has a market capitalization of $13.92 billion, a PE ratio of 16.15, a P/E/G ratio of 8.56 and a beta of 1.69. Builders FirstSource, Inc. has a 1-year low of $102.60 and a 1-year high of $203.14. The company’s fifty day simple moving average is $116.50 and its 200-day simple moving average is $130.31.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.50 by $0.01. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.67 billion. Builders FirstSource had a net margin of 5.66% and a return on equity of 28.02%. The company’s revenue was down 6.0% on a year-over-year basis. During the same period last year, the firm earned $2.65 EPS. As a group, equities 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 share repurchase program on Thursday, May 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages recently weighed in on BLDR. Stifel Nicolaus decreased their price objective on shares of Builders FirstSource from $125.00 to $118.00 and set a “hold” rating for the company in a report on Monday, May 5th. Barclays decreased their price target on Builders FirstSource from $151.00 to $137.00 and set an “overweight” rating for the company in a research note on Friday, May 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Builders FirstSource in a research report on Tuesday, April 1st. They set a “buy” rating and a $151.00 price objective on the stock. BMO Capital Markets reduced their price objective on Builders FirstSource from $146.00 to $135.00 and set a “market perform” rating for the company in a report on Monday, May 5th. Finally, Raymond James Financial restated an “outperform” rating and set a $140.00 target price (down previously from $170.00) on shares of Builders FirstSource in a research note on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $159.42.

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.