Norges Bank Invests $109.27 Million in Builders FirstSource, Inc. $BLDR

Norges Bank acquired a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,061,995 shares of the company’s stock, valued at approximately $109,269,000.

Other large investors also recently modified their holdings of the company. Cromwell Holdings LLC boosted its stake in shares of Builders FirstSource by 1,323.5% during the 4th quarter. Cromwell Holdings LLC now owns 242 shares of the company’s stock worth $25,000 after buying an additional 225 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Builders FirstSource by 167.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the company’s stock worth $26,000 after buying an additional 132 shares during the last quarter. TD Waterhouse Canada Inc. acquired a new position in shares of Builders FirstSource during the 3rd quarter worth about $34,000. CYBER HORNET ETFs LLC acquired a new position in shares of Builders FirstSource during the 2nd quarter worth about $38,000. Finally, MUFG Securities EMEA plc acquired a new position in shares of Builders FirstSource during the 2nd quarter worth about $38,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BLDR shares. Zacks Research cut shares of Builders FirstSource from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. The Goldman Sachs Group dropped their target price on shares of Builders FirstSource from $110.00 to $101.00 in a report on Friday, May 1st. Royal Bank Of Canada dropped their target price on shares of Builders FirstSource from $110.00 to $107.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Loop Capital dropped their target price on shares of Builders FirstSource from $140.00 to $110.00 in a report on Friday, May 1st. Finally, DA Davidson dropped their target price on shares of Builders FirstSource from $111.00 to $84.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $101.88.

Builders FirstSource Stock Up 0.9%

Builders FirstSource stock opened at $74.93 on Friday. The stock has a market cap of $8.06 billion, a P/E ratio of 28.71, a P/E/G ratio of 1.78 and a beta of 1.44. The company has a quick ratio of 1.09, a current ratio of 1.76 and a debt-to-equity ratio of 1.15. Builders FirstSource, Inc. has a twelve month low of $65.10 and a twelve month high of $151.03. The company’s 50-day moving average price is $79.97 and its two-hundred day moving average price is $98.12.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.12). The company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.17 billion. Builders FirstSource had a net margin of 1.97% and a return on equity of 14.89%. The firm’s revenue was down 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.51 earnings per share. As a group, analysts expect that Builders FirstSource, Inc. will post 4.26 EPS for the current year.

Builders FirstSource declared that its board has authorized a stock buyback plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Paul S. Levy purchased 50,000 shares of the stock in a transaction on Friday, March 13th. The shares were purchased at an average cost of $87.73 per share, with a total value of $4,386,500.00. Following the acquisition, the director directly owned 1,727,191 shares in the company, valued at $151,526,466.43. The trade was a 2.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 2.70% of the stock is currently owned by corporate insiders.

About Builders FirstSource

Builders FirstSource, Inc is a leading supplier of structural and value-added building products and services to professional contractors, homebuilders and remodelers. The company provides a comprehensive range of materials and prefabricated components that support all phases of residential construction, from site development and framing to finishing and installation.

The company’s core offerings include lumber and lumber sheet goods, windows and doors, millwork, roofing and siding, and engineered wood products such as roof and floor trusses.