Hsbc Holdings PLC Trims Holdings in Builders FirstSource, Inc. $BLDR

Hsbc Holdings PLC trimmed its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 16.3% in the 1st quarter, Holdings Channel reports. The fund owned 218,856 shares of the company’s stock after selling 42,474 shares during the quarter. Hsbc Holdings PLC’s holdings in Builders FirstSource were worth $17,986,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BLDR. Daiwa Securities Group Inc. grew its holdings in Builders FirstSource by 0.4% in the second quarter. Daiwa Securities Group Inc. now owns 17,630 shares of the company’s stock worth $2,057,000 after purchasing an additional 78 shares during the period. New Mexico Educational Retirement Board boosted its position in shares of Builders FirstSource by 2.0% in the 4th quarter. New Mexico Educational Retirement Board now owns 5,100 shares of the company’s stock worth $525,000 after purchasing an additional 100 shares in the last quarter. Moors & Cabot Inc. boosted its position in shares of Builders FirstSource by 1.5% in the 4th quarter. Moors & Cabot Inc. now owns 7,388 shares of the company’s stock worth $760,000 after purchasing an additional 109 shares in the last quarter. Root Financial Partners LLC grew its stake in shares of Builders FirstSource by 43.6% in the 1st quarter. Root Financial Partners LLC now owns 372 shares of the company’s stock worth $31,000 after buying an additional 113 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in shares of Builders FirstSource by 5.9% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,272 shares of the company’s stock worth $275,000 after buying an additional 126 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on BLDR shares. Raymond James Financial lowered their price objective on Builders FirstSource from $140.00 to $100.00 in a research note on Friday, May 1st. Zacks Research upgraded Builders FirstSource from a “strong sell” rating to a “hold” rating in a report on Friday, July 3rd. Deutsche Bank Aktiengesellschaft lowered their price target on Builders FirstSource from $102.00 to $81.00 and set a “hold” rating for the company in a research report on Monday, May 4th. Stephens dropped their price target on shares of Builders FirstSource from $125.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Monday, April 27th. Finally, Weiss Ratings raised shares of Builders FirstSource from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, July 2nd. Eight research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Builders FirstSource currently has an average rating of “Hold” and an average target price of $101.45.

Builders FirstSource Stock Performance

BLDR stock opened at $69.87 on Wednesday. The stock has a market capitalization of $7.52 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.73 and a beta of 1.42. Builders FirstSource, Inc. has a 12-month low of $65.10 and a 12-month high of $151.03. The company has a current ratio of 1.76, a quick ratio of 1.09 and a debt-to-equity ratio of 1.15. The stock’s 50 day simple moving average is $77.14 and its 200 day simple moving average is $91.94.

Builders FirstSource (NYSE:BLDR) last issued its earnings results on Thursday, April 30th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.12). The business had revenue of $3.29 billion for 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%. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.51 earnings per share. As a group, research analysts forecast that Builders FirstSource, Inc. will post 4.29 earnings per share for the current fiscal year.

Builders FirstSource announced that its board has approved a stock repurchase program on Thursday, April 30th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Builders FirstSource Company 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.