Acadian Asset Management LLC Has $1.01 Million Stock Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Acadian Asset Management LLC lessened its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 55.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,339 shares of the company’s stock after selling 9,208 shares during the quarter. Acadian Asset Management LLC’s holdings in Builders FirstSource were worth $1,013,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BLDR. Vanguard Group Inc. raised its stake in shares of Builders FirstSource by 15.7% in the fourth quarter. Vanguard Group Inc. now owns 14,668,049 shares of the company’s stock valued at $2,448,684,000 after purchasing an additional 1,985,297 shares in the last quarter. Norges Bank bought a new stake in shares of Builders FirstSource in the fourth quarter worth about $212,209,000. Bessemer Group Inc. increased its stake in Builders FirstSource by 477,028.7% during the 1st quarter. Bessemer Group Inc. now owns 448,501 shares of the company’s stock worth $93,535,000 after purchasing an additional 448,407 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Builders FirstSource by 152.9% during the fourth quarter. Hsbc Holdings PLC now owns 489,047 shares of the company’s stock worth $81,628,000 after acquiring an additional 295,643 shares in the last quarter. Finally, Frontier Capital Management Co. LLC raised its stake in shares of Builders FirstSource by 34.8% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,133,751 shares of the company’s stock valued at $189,268,000 after purchasing an additional 292,966 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

Builders FirstSource Stock Up 2.4 %

Shares of NYSE BLDR opened at $187.65 on Tuesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.14. Builders FirstSource, Inc. has a 1 year low of $105.24 and a 1 year high of $214.70. The company has a 50 day simple moving average of $162.36 and a 200 day simple moving average of $170.79. The firm has a market cap of $22.90 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 10.06 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.48. The firm had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.89 EPS. On average, research analysts forecast that Builders FirstSource, Inc. will post 11.65 EPS for the current year.

Builders FirstSource announced that its Board of Directors has approved a stock buyback plan on Tuesday, August 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 5.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, Director Craig Arthur Steinke sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the transaction, the director now directly owns 95,333 shares of the company’s stock, valued at $14,650,775.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Zelman & Associates reiterated a “hold” rating on shares of Builders FirstSource in a research note on Monday, June 17th. Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and raised their target price for the stock from $165.00 to $220.00 in a research note on Monday. Oppenheimer boosted their price target on Builders FirstSource from $190.00 to $205.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. Wedbush reissued an “outperform” rating and issued a $175.00 price objective on shares of Builders FirstSource in a report on Tuesday, August 6th. Finally, Robert W. Baird raised Builders FirstSource from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $185.00 to $190.00 in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Builders FirstSource currently has an average rating of “Moderate Buy” and an average target price of $184.43.

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.