Fred Alger Management LLC Grows Stake in Builders FirstSource, Inc. $BLDR

Fred Alger Management LLC raised its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 252.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 375,723 shares of the company’s stock after acquiring an additional 269,239 shares during the period. Fred Alger Management LLC’s holdings in Builders FirstSource were worth $38,658,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BLDR. Capital International Investors purchased a new stake in shares of Builders FirstSource during the third quarter valued at $429,640,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Builders FirstSource by 99,084.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,241,561 shares of the company’s stock valued at $230,634,000 after buying an additional 2,239,301 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Builders FirstSource by 2,498.8% during the third quarter. Franklin Resources Inc. now owns 1,854,525 shares of the company’s stock valued at $224,861,000 after buying an additional 1,783,164 shares during the last quarter. Sands Capital Management LLC boosted its position in shares of Builders FirstSource by 139.1% during the third quarter. Sands Capital Management LLC now owns 2,430,902 shares of the company’s stock valued at $294,747,000 after buying an additional 1,414,129 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Builders FirstSource by 235.1% during the third quarter. Victory Capital Management Inc. now owns 1,893,483 shares of the company’s stock valued at $229,585,000 after buying an additional 1,328,363 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Builders FirstSource Stock Up 1.1%

BLDR stock opened at $78.69 on Wednesday. Builders FirstSource, Inc. has a fifty-two week low of $65.10 and a fifty-two week high of $151.03. The business’s 50-day moving average is $79.24 and its two-hundred day moving average is $96.71. 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 cap of $8.46 billion, a price-to-earnings ratio of 30.15, a P/E/G ratio of 1.87 and a beta of 1.44.

Builders FirstSource (NYSE:BLDR) last posted its 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). Builders FirstSource had a net margin of 1.97% and a return on equity of 14.89%. The firm had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.17 billion. During the same period in the prior year, the company posted $1.51 EPS. The firm’s revenue was down 10.1% compared to the same quarter last year. As a group, analysts forecast that Builders FirstSource, Inc. will post 4.26 earnings per share for the current year.

Builders FirstSource declared that its board has authorized a share repurchase plan on Thursday, April 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BLDR shares. Stifel Nicolaus dropped their price objective on Builders FirstSource from $115.00 to $93.00 and set a “hold” rating on the stock in a research report on Monday, March 16th. Truist Financial dropped their price objective on Builders FirstSource from $145.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Royal Bank Of Canada dropped their price objective on Builders FirstSource from $110.00 to $107.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. BMO Capital Markets dropped their price objective on Builders FirstSource from $100.00 to $93.00 and set a “market perform” rating on the stock in a research report on Monday, May 4th. Finally, Wells Fargo & Company dropped their price objective 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. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $101.88.

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.