Korea Investment CORP Makes New Investment in Builders FirstSource, Inc. $BLDR

Korea Investment CORP bought a new stake in Builders FirstSource, Inc. (NYSE:BLDR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 42,166 shares of the company’s stock, valued at approximately $3,773,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. acquired a new stake in Builders FirstSource during the second quarter worth about $700,934,000. State Street Corp boosted its holdings in Builders FirstSource by 2.3% in the 4th quarter. State Street Corp now owns 5,108,120 shares of the company’s stock valued at $525,574,000 after purchasing an additional 115,857 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Builders FirstSource by 2.3% in the 4th quarter. Wellington Management Group LLP now owns 3,316,797 shares of the company’s stock valued at $341,265,000 after buying an additional 73,835 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Builders FirstSource by 12.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,967,744 shares of the company’s stock valued at $244,301,000 after buying an additional 325,935 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Builders FirstSource by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,817,958 shares of the company’s stock worth $288,789,000 after buying an additional 14,420 shares during the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Builders FirstSource Trading Up 0.2%

BLDR opened at $70.37 on Tuesday. Builders FirstSource, Inc. has a 52 week low of $65.10 and a 52 week high of $151.03. The company has a quick ratio of 1.09, a current ratio of 1.79 and a debt-to-equity ratio of 1.14. The business has a fifty day simple moving average of $75.82 and a 200-day simple moving average of $84.04. The firm has a market cap of $7.57 billion, a P/E ratio of 77.33, a P/E/G ratio of 2.28 and a beta of 1.44.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.08). Builders FirstSource had a net margin of 0.71% and a return on equity of 11.73%. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter in the prior year, the firm posted $2.38 EPS. Builders FirstSource’s quarterly revenue was down 8.8% compared to the same quarter last year. On average, equities analysts expect that Builders FirstSource, Inc. will post 3.15 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BLDR shares. KeyCorp reduced their price target on shares of Builders FirstSource from $100.00 to $91.00 and set an “overweight” rating on the stock in a research report on Monday, July 13th. Wolfe Research upgraded Builders FirstSource to a “hold” rating in a research report on Thursday, May 14th. Wells Fargo & Company decreased their price target on Builders FirstSource from $85.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, July 31st. Barclays cut their price objective on Builders FirstSource from $93.00 to $81.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Finally, DA Davidson set a $68.00 target price on shares of Builders FirstSource in a research note on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $90.35.

Builders FirstSource Company Profile

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.