Shares of Builders FirstSource, Inc. (NYSE:BLDR) bought by Natixis Advisors LLC

VaselineSeptember 9, 2024

0 4 minutes read

Natixis Advisors LLC raised its position in shares of Builders FirstSource, Inc. (NYSE:BLDR – Free Report) by 33.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 22,385 shares of the company’s stock after purchasing an additional 5,574 shares during the period. Natixis Advisors LLC’s holdings in Builders FirstSource were worth $3,098,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of BLDR. Inçalta Capital LLC purchased a new position in Builders FirstSource in the second quarter worth approximately $27,000. Westside Investment Management Inc. acquired a new stake in Builders FirstSource in the first quarter valued at $31,000. Principal Securities Inc. purchased a new stake in Builders FirstSource in the 4th quarter valued at $32,000. ORG Partners LLC acquired a new position in Builders FirstSource in the first quarter worth $33,000. Finally, American Capital Advisory LLC purchased a new position in Builders FirstSource in the first quarter valued at $34,000. 95.53% of shares are currently owned by institutional investors and hedge funds.

Builders FirstSource Stock Performance

NYSE BLDR opened at $168.51 on Monday. The stock has a fifty day simple moving average of $158.43 and a 200 day simple moving average of $171.41. The company has a current ratio of 1.83, a quick ratio of 1.14, and a debt-to-equity ratio of 0.88. The stock has a market cap of $20.57 billion, a PE ratio of 14.43, a P/E/G ratio of 10.07 and a beta of 2.06. Builders FirstSource, Inc. has a 12-month low of $105.24 and a 12-month high of $214.70.

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Builders FirstSource (NYSE:BLDR – Get Your Free Report ) last announced its earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.48. The company had revenue of $4.46 billion during 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%. Builders FirstSource’s revenue was down 1.6% compared to the same quarter last year. In the same quarter last year, the company posted earnings of $3.89 per share. Equities analysts anticipate that Builders FirstSource, Inc. will post 11.91 earnings per share for the current year.

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

Changes in Analyst Ratings

Several research firms have commented on BLDR. Stifel Nicolaus decreased their price objective on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Bank of America downgraded Builders FirstSource from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $183.00 to $180.00 in a research note on Friday. August 2. Robert W. Baird raised shares of Builders FirstSource from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $185.00 to $190.00 in a research note on Wednesday , August 7. Oppenheimer upped their target price on shares of Builders FirstSource from $190.00 to $205.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. Finally, Royal Bank of Canada cut their price target on shares of Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating on the stock in a research report on Wednesday. August 7. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $181.57.

Check out the latest stock analysis on BLDR

Insider Buying and Selling at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the completion of the transaction, the director now directly owns 95,333 shares in the company, valued at $14,650,775.44. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.80% of shares are owned by corporate insiders.

About Builders FirstSource

(Free report)

Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, manufactured components and construction services to professional home builders, subcontractors, remodelers and consumers in the United States. Provides lumber and sheet goods that include dimensional lumber, plywood and oriented strand board products that are used within the home on site; manufactured products such as wood floor and roof trusses, floor trusses, wall panels, stairs and engineered wood products; and interior and exterior window and door units, as well as interior trim and custom products comprising intricate moldings, stair parts and columns under the Synboard brand.