Builders FirstSource, Inc. (NYSE:BLDR) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC grew its position in Builders FirstSource, Inc. (NYSE:BLDR) by 11.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 624,549 shares of the company’s stock after buying an additional 65,519 shares during the quarter. Hsbc Holdings PLC owned 0.51% of Builders FirstSource worth $86,084,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of BLDR. Allianz Asset Management GmbH boosted its position in Builders FirstSource by 73.9% in the 4th quarter. Allianz Asset Management GmbH now owns 128,348 shares of the company’s stock valued at $21,426,000 after buying an additional 54,557 shares during the period. Boulder Hill Capital Management LP acquired a new position in Builders FirstSource during the 4th quarter worth $851,000. Westfield Capital Management Co. LP increased its stake in shares of Builders FirstSource by 11.2% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,416,611 shares of the company’s stock worth $236,489,000 after buying an additional 143,041 shares during the period. New Mexico Educational Retirement Board grew its holdings in Builders FirstSource by 512.3% during the 1st quarter. New Mexico Educational Retirement Board now owns 39,800 shares of the company’s stock worth $8,300,000 after acquiring an additional 33,300 shares in the last quarter. Finally, Pitcairn Co. increased its position in shares of Builders FirstSource by 37.2% in the 4th quarter. Pitcairn Co. now owns 21,051 shares of the company’s stock valued at $3,514,000 after purchasing an additional 5,704 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wedbush reissued an “outperform” rating and set a $175.00 target price on shares of Builders FirstSource in a research report on Tuesday, August 6th. Barclays cut their price target on shares of Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Stifel Nicolaus decreased their price objective on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Benchmark cut their target price on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Truist Financial raised Builders FirstSource from a “hold” rating to a “buy” rating and upped their target price for the company from $165.00 to $220.00 in a research report on Monday. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $187.14.

Builders FirstSource Stock Up 3.8 %

Shares of NYSE:BLDR opened at $201.83 on Friday. Builders FirstSource, Inc. has a fifty-two week low of $105.24 and a fifty-two week high of $214.70. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88. The firm’s 50-day simple moving average is $166.86 and its 200-day simple moving average is $171.08. The company has a market cap of $24.63 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 10.06 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last issued its earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.02 by $0.48. The company had revenue of $4.46 billion for 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 business’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.89 EPS. As a group, equities research analysts predict that Builders FirstSource, Inc. will post 11.65 earnings per share for the current year.

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

Insider Buying and Selling

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following the completion of 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 filing with the SEC, which is available at this link. 1.80% of the stock is owned by insiders.

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.