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

Allspring Global Investments Holdings LLC trimmed its position in Builders FirstSource, Inc. (NYSE:BLDR) by 51.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,084 shares of the company’s stock after selling 36,506 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Builders FirstSource were worth $4,718,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Builders FirstSource by 15.7% in the fourth quarter. Vanguard Group Inc. now owns 14,668,049 shares of the company’s stock worth $2,448,684,000 after buying an additional 1,985,297 shares during the period. Norges Bank bought a new stake in Builders FirstSource in the 4th quarter valued at about $212,209,000. Boston Partners boosted its stake in Builders FirstSource by 73.5% during the 4th quarter. Boston Partners now owns 1,366,784 shares of the company’s stock valued at $227,464,000 after purchasing an additional 578,961 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Builders FirstSource by 477,028.7% during the 1st quarter. Bessemer Group Inc. now owns 448,501 shares of the company’s stock valued at $93,535,000 after purchasing an additional 448,407 shares during the period. Finally, Hsbc Holdings PLC raised its stake in shares of Builders FirstSource by 152.9% in the 4th quarter. Hsbc Holdings PLC now owns 489,047 shares of the company’s stock worth $81,628,000 after buying an additional 295,643 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Builders FirstSource Stock Performance

BLDR stock opened at $174.00 on Monday. The firm has a 50 day simple moving average of $155.31 and a 200 day simple moving average of $171.93. Builders FirstSource, Inc. has a 52 week low of $105.24 and a 52 week high of $214.70. The stock has a market cap of $21.24 billion, a P/E ratio of 14.90, a P/E/G ratio of 10.07 and a beta of 2.04. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83.

Builders FirstSource (NYSE:BLDR) last issued its earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.48. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The company had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.48 billion. During the same quarter last year, the business posted $3.89 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. Research analysts anticipate that Builders FirstSource, Inc. will post 11.91 earnings per share for the current fiscal year.

Builders FirstSource declared that its board has authorized a share repurchase plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Builders FirstSource

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BLDR. StockNews.com lowered Builders FirstSource from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Zelman & Associates reiterated a “hold” rating on shares of Builders FirstSource in a report on Monday, June 17th. Barclays reduced their target price on shares of Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Robert W. Baird raised Builders FirstSource from a “neutral” rating to an “outperform” rating and upped their price target for the company from $185.00 to $190.00 in a report on Wednesday, August 7th. Finally, Truist Financial reduced their price objective on Builders FirstSource from $190.00 to $180.00 and set a “hold” rating for the company in a research note on Wednesday, May 8th. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Builders FirstSource has an average rating of “Moderate Buy” and a consensus price target of $180.50.

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.