ING Groep NV Invests $1.37 Million in Builders FirstSource, Inc. $BLDR

ING Groep NV purchased a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR) during the fourth quarter, Holdings Channel.com reports. The fund purchased 13,291 shares of the company’s stock, valued at approximately $1,368,000.

Other large investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its stake in shares of Builders FirstSource by 167.1% during the third 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 during the last quarter. Cromwell Holdings LLC grew its stake in shares of Builders FirstSource by 1,323.5% during the fourth quarter. Cromwell Holdings LLC now owns 242 shares of the company’s stock worth $25,000 after acquiring an additional 225 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new stake in shares of Builders FirstSource during the second quarter worth about $38,000. MUFG Securities EMEA plc purchased a new stake in shares of Builders FirstSource during the second quarter worth about $38,000. Finally, IMA Advisory Services Inc. grew its stake in shares of Builders FirstSource by 40.9% during the third quarter. IMA Advisory Services Inc. now owns 355 shares of the company’s stock worth $43,000 after acquiring an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Builders FirstSource Price Performance

Shares of NYSE BLDR opened at $77.55 on Wednesday. The business’s 50 day moving average price is $79.50 and its 200 day moving average price is $97.63. The firm has a market cap of $8.34 billion, a P/E ratio of 29.71, a P/E/G ratio of 1.75 and a beta of 1.44. 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 1.76 and a debt-to-equity ratio of 1.15.

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

Builders FirstSource announced that its board has approved a stock 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 reacquire up to 5.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Paul S. Levy bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average price of $87.73 per share, for a total transaction of $4,386,500.00. Following the completion of the transaction, the director directly owned 1,727,191 shares in the company, valued at approximately $151,526,466.43. This represents a 2.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BLDR has been the topic of a number of research analyst reports. Barclays dropped their price target on Builders FirstSource from $114.00 to $93.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. William Blair assumed coverage on Builders FirstSource in a research note on Thursday, February 26th. They set an “outperform” rating on the stock. Robert W. Baird dropped their target price on Builders FirstSource from $125.00 to $95.00 in a research report on Friday, May 1st. Wells Fargo & Company dropped their target price on Builders FirstSource from $87.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. Finally, Zacks Research lowered Builders FirstSource from a “hold” rating to a “strong sell” rating in a research report on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $101.88.

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.