Korea Investment CORP Makes New Investment in Builders FirstSource, Inc. $BLDR

Korea Investment CORP acquired a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR) during the second quarter, Holdings Channel reports. The institutional investor acquired 42,166 shares of the company’s stock, valued at approximately $3,773,000.

A number of other large investors have also modified their holdings of BLDR. Caitong International Asset Management Co. Ltd boosted its holdings in Builders FirstSource by 167.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the company’s stock valued at $26,000 after purchasing an additional 132 shares during the period. CYBER HORNET ETFs LLC purchased a new stake in Builders FirstSource during the 2nd quarter worth about $38,000. MUFG Securities EMEA plc acquired a new stake in Builders FirstSource in the 2nd quarter valued at about $38,000. Sunbelt Securities Inc. raised its position in Builders FirstSource by 508.5% in the 1st quarter. Sunbelt Securities Inc. now owns 359 shares of the company’s stock valued at $30,000 after purchasing an additional 300 shares in the last quarter. Finally, Transamerica Financial Advisors LLC boosted its stake in shares of Builders FirstSource by 90.2% in the 4th quarter. Transamerica Financial Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after buying an additional 175 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Builders FirstSource Trading Up 0.2%

BLDR opened at $70.37 on Tuesday. Builders FirstSource, Inc. has a one year low of $65.10 and a one year high of $151.03. The company has a market cap of $7.57 billion, a P/E ratio of 77.33, a PEG ratio of 2.28 and a beta of 1.44. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.09 and a current ratio of 1.79. The business’s 50-day simple moving average is $75.82 and its 200-day simple moving average is $84.04.

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

Builders FirstSource announced that its Board of Directors has authorized a stock repurchase program on Thursday, April 30th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to buy up to 5.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

BLDR has been the subject of a number of analyst reports. Citizens Jmp assumed coverage on Builders FirstSource in a research report on Friday. They set a “market perform” rating for the company. Benchmark reduced their target price on shares of Builders FirstSource from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Wells Fargo & Company decreased their price target on shares of Builders FirstSource from $85.00 to $65.00 and set an “equal weight” rating for the company in a research note on Friday, July 31st. Robert W. Baird set a $75.00 price target on shares of Builders FirstSource in a report on Friday, July 31st. Finally, Raymond James Financial dropped their price objective on shares of Builders FirstSource from $140.00 to $100.00 in a research report on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $90.35.

Builders FirstSource 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.