Miller Value Partners LLC Buys New Stake in Builders FirstSource, Inc. $BLDR

Miller Value Partners LLC purchased a new position in Builders FirstSource, Inc. (NYSE:BLDR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 19,115 shares of the company’s stock, valued at approximately $1,710,000.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on BLDR shares. Truist Financial lowered their price target on Builders FirstSource from $115.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft set a $66.00 price objective on Builders FirstSource in a report on Friday, July 31st. Royal Bank Of Canada reduced their target price on shares of Builders FirstSource from $107.00 to $88.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Stifel Nicolaus dropped their target price on shares of Builders FirstSource from $76.00 to $70.00 and set a “hold” rating for the company in a research report on Thursday, July 23rd. Finally, Weiss Ratings cut shares of Builders FirstSource from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, July 21st. Nine research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $90.35.

Builders FirstSource Stock Down 1.0%

NYSE BLDR opened at $69.50 on Wednesday. The stock’s 50 day simple moving average is $75.64 and its 200 day simple moving average is $83.66. Builders FirstSource, Inc. has a one year low of $65.10 and a one year high of $151.03. The firm has a market cap of $7.48 billion, a PE ratio of 76.37, a price-to-earnings-growth ratio of 2.28 and a beta of 1.44. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.79 and a quick ratio of 1.09.

Builders FirstSource (NYSE:BLDR) last issued 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). The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.91 billion. Builders FirstSource had a net margin of 0.71% and a return on equity of 11.73%. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.38 EPS. As a group, sell-side analysts forecast that Builders FirstSource, Inc. will post 3.15 earnings per share for the current fiscal year.

Builders FirstSource declared that its Board of Directors has initiated a stock buyback program on Thursday, April 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Builders FirstSource 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.