Perkins Coie Trust Co Grows Position in Builders FirstSource, Inc. (NYSE:BLDR)

Perkins Coie Trust Co lifted its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 10.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,432 shares of the company’s stock after acquiring an additional 132 shares during the quarter. Perkins Coie Trust Co’s holdings in Builders FirstSource were worth $179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Gateway Investment Advisers LLC lifted its holdings in Builders FirstSource by 36.9% in the first quarter. Gateway Investment Advisers LLC now owns 5,538 shares of the company’s stock valued at $692,000 after acquiring an additional 1,493 shares during the period. Procyon Advisors LLC bought a new position in Builders FirstSource in the first quarter valued at about $512,000. Retireful LLC bought a new position in Builders FirstSource in the first quarter valued at about $305,000. Sentry Investment Management LLC bought a new position in Builders FirstSource in the first quarter valued at about $40,000. Finally, NBC Securities Inc. lifted its holdings in Builders FirstSource by 124,900.0% in the first quarter. NBC Securities Inc. now owns 1,250 shares of the company’s stock valued at $156,000 after acquiring an additional 1,249 shares during the period. 95.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Robert W. Baird set a $130.00 price objective on Builders FirstSource in a research note on Friday, May 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $132.00 price objective on shares of Builders FirstSource in a research note on Thursday, May 15th. UBS Group decreased their price objective on Builders FirstSource from $180.00 to $163.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Barclays decreased their price objective on Builders FirstSource from $151.00 to $137.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Finally, Stephens decreased their price objective on Builders FirstSource from $145.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.58.

Builders FirstSource Stock Performance

NYSE:BLDR opened at $111.70 on Friday. The stock has a market capitalization of $12.34 billion, a P/E ratio of 12.33, a P/E/G ratio of 0.80 and a beta of 1.69. The stock has a 50-day moving average price of $115.49 and a 200 day moving average price of $139.63. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.86. Builders FirstSource, Inc. has a 12-month low of $102.60 and a 12-month high of $203.14.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.01. The business had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Builders FirstSource had a return on equity of 30.54% and a net margin of 6.57%. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.65 EPS. Equities research analysts forecast that Builders FirstSource, Inc. will post 11.59 EPS for the current fiscal year.

Builders FirstSource declared that its Board of Directors has approved a share buyback program on Thursday, May 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Builders FirstSource

In other news, Director Paul S. Levy purchased 283,517 shares of the business’s stock in a transaction on Thursday, May 8th. The stock was acquired at an average price of $111.21 per share, for a total transaction of $31,529,925.57. Following the acquisition, the director now directly owns 1,672,687 shares of the company’s stock, valued at $186,019,521.27. This represents a 20.41% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dirkson R. Charles bought 5,000 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was bought at an average price of $109.67 per share, with a total value of $548,350.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at approximately $548,350. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought 505,000 shares of company stock worth $56,032,120 in the last quarter. 2.00% of the stock is owned by corporate insiders.

Builders FirstSource Company Profile

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.