CIBC Asset Management Inc Acquires 10,179 Shares of Builders FirstSource, Inc. $BLDR

CIBC Asset Management Inc raised its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 63.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 26,318 shares of the company’s stock after buying an additional 10,179 shares during the period. CIBC Asset Management Inc’s holdings in Builders FirstSource were worth $2,708,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BLDR. Cromwell Holdings LLC grew its stake in shares of Builders FirstSource by 1,323.5% in the 4th quarter. Cromwell Holdings LLC now owns 242 shares of the company’s stock worth $25,000 after acquiring an additional 225 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Builders FirstSource by 167.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the company’s stock worth $26,000 after acquiring an additional 132 shares in the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Builders FirstSource in the 2nd quarter worth $38,000. MUFG Securities EMEA plc bought a new stake in shares of Builders FirstSource in the 2nd quarter worth $38,000. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of Builders FirstSource in the 4th quarter worth $40,000. Institutional investors own 95.53% of the company’s stock.

Builders FirstSource Price Performance

Shares of NYSE:BLDR opened at $73.57 on Monday. The company’s 50-day moving average is $79.73 and its 200 day moving average is $97.93. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.09 and a current ratio of 1.76. The company has a market capitalization of $7.91 billion, a P/E ratio of 28.19, a price-to-earnings-growth ratio of 1.77 and a beta of 1.45. Builders FirstSource, Inc. has a fifty-two week low of $65.10 and a fifty-two week high of $151.03.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.12). The company had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.17 billion. Builders FirstSource had a return on equity of 14.89% and a net margin of 1.97%.Builders FirstSource’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period last year, the firm posted $1.51 earnings per share. On average, equities research analysts forecast that Builders FirstSource, Inc. will post 4.26 earnings per share for the current year.

Builders FirstSource declared that its Board of Directors has authorized a share buyback program on Thursday, April 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have recently issued reports on BLDR. Weiss Ratings lowered shares of Builders FirstSource from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 20th. Stifel Nicolaus reduced their target price on shares of Builders FirstSource from $115.00 to $93.00 and set a “hold” rating for the company in a research note on Monday, March 16th. KeyCorp reduced their target price on shares of Builders FirstSource from $145.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Raymond James Financial reduced their target price on shares of Builders FirstSource from $140.00 to $100.00 in a research note on Friday, May 1st. Finally, Robert W. Baird reduced their target price on shares of Builders FirstSource from $125.00 to $95.00 in a research note on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $101.88.

Insider Buying and Selling at Builders FirstSource

In related news, Director Paul S. Levy purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average cost of $87.73 per share, with a total value of $4,386,500.00. Following the acquisition, the director owned 1,727,191 shares of the company’s stock, valued at $151,526,466.43. This represents a 2.98% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.70% of the company’s stock.

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.