JB Capital Partners LP Makes New Investment in Builders FirstSource, Inc. $BLDR

JB Capital Partners LP purchased a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 292,265 shares of the company’s stock, valued at approximately $26,151,872. Builders FirstSource accounts for approximately 0.0% of JB Capital Partners LP’s investment portfolio, making the stock its 7th largest holding. JB Capital Partners LP owned approximately 0.27% of Builders FirstSource at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC grew its stake in Builders FirstSource by 9.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,460 shares of the company’s stock worth $432,000 after buying an additional 295 shares during the last quarter. Woodline Partners LP increased its holdings in shares of Builders FirstSource by 40.7% during the first quarter. Woodline Partners LP now owns 9,723 shares of the company’s stock worth $1,215,000 after buying an additional 2,812 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Builders FirstSource by 180.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,582 shares of the company’s stock worth $185,000 after buying an additional 1,017 shares during the period. Baird Financial Group Inc. lifted its position in Builders FirstSource by 230.7% during the second quarter. Baird Financial Group Inc. now owns 18,942 shares of the company’s stock worth $2,210,000 after acquiring an additional 13,215 shares during the last quarter. Finally, Jump Financial LLC increased its holdings in shares of Builders FirstSource by 144.1% during the second quarter. Jump Financial LLC now owns 7,223 shares of the company’s stock worth $843,000 after buying an additional 4,264 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BLDR. Weiss Ratings downgraded shares of Builders FirstSource from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, July 21st. Oppenheimer dropped their price objective on Builders FirstSource from $110.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. The Goldman Sachs Group dropped their price objective on Builders FirstSource from $110.00 to $101.00 in a research note on Friday, May 1st. Citigroup initiated coverage on Builders FirstSource in a research note on Friday, August 21st. They set a “market perform” rating for the company. Finally, Citizens Jmp started coverage on Builders FirstSource in a report on Friday, August 21st. They issued a “market perform” rating for the company. Nine analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $90.35.

Builders FirstSource Stock Down 0.2%

NYSE BLDR traded down $0.12 during midday trading on Friday, hitting $67.09. 792,826 shares of the company traded hands, compared to its average volume of 2,379,149. The company’s 50-day simple moving average is $75.22 and its 200-day simple moving average is $82.90. The company has a market cap of $7.22 billion, a PE ratio of 73.73, a price-to-earnings-growth ratio of 2.23 and a beta of 1.44. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.79 and a quick ratio of 1.09. Builders FirstSource, Inc. has a 52 week low of $65.10 and a 52 week high of $151.03.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.08). Builders FirstSource had a net margin of 0.71% and a return on equity of 11.73%. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter in the prior year, the firm posted $2.38 EPS. Builders FirstSource’s quarterly revenue was down 8.8% compared to the same quarter last year. As a group, equities research analysts forecast that Builders FirstSource, Inc. will post 3.15 earnings per share for the current year.

Builders FirstSource declared that its Board of Directors has approved a share buyback plan 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 plans are often an indication that the company’s board believes its shares are undervalued.

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.