Renaissance Technologies LLC Has $18.13 Million Position in Builders FirstSource, Inc. $BLDR

Renaissance Technologies LLC trimmed its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 58.8% during the first quarter, HoldingsChannel.com reports. The firm owned 220,241 shares of the company’s stock after selling 314,500 shares during the period. Renaissance Technologies LLC’s holdings in Builders FirstSource were worth $18,132,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in BLDR. Gabelli Funds LLC grew its holdings in Builders FirstSource by 66.7% during the 1st quarter. Gabelli Funds LLC now owns 4,000 shares of the company’s stock worth $329,000 after acquiring an additional 1,600 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Builders FirstSource during the first quarter worth $23,313,000. Inceptionr LLC grew its stake in shares of Builders FirstSource by 6.8% in the first quarter. Inceptionr LLC now owns 9,576 shares of the company’s stock worth $788,000 after purchasing an additional 613 shares during the last quarter. Sei Investments Co. raised its position in Builders FirstSource by 119.8% during the 1st quarter. Sei Investments Co. now owns 213,397 shares of the company’s stock worth $17,568,000 after purchasing an additional 116,327 shares during the last quarter. Finally, Levin Capital Strategies L.P. lifted its holdings in Builders FirstSource by 66.7% during the 1st quarter. Levin Capital Strategies L.P. now owns 7,500 shares of the company’s stock worth $617,000 after buying an additional 3,000 shares during the period. Institutional investors own 95.53% of the company’s stock.

Builders FirstSource Trading Down 2.4%

NYSE BLDR opened at $66.12 on Friday. The stock has a market capitalization of $7.11 billion, a P/E ratio of 25.33, a P/E/G ratio of 1.67 and a beta of 1.42. The business has a 50 day simple moving average of $77.08 and a 200 day simple moving average of $90.01. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.76 and a quick ratio of 1.09. Builders FirstSource, Inc. has a one year low of $65.10 and a one year high of $151.03.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings results 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). The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.91 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 8.8% compared to the same quarter last year. During the same period last year, the firm posted $2.38 earnings per share. Research analysts expect that Builders FirstSource, Inc. will post 4.16 earnings per share for the current year.

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

Analysts Set New Price Targets

A number of research firms have commented on BLDR. Jefferies Financial Group reduced their price target on Builders FirstSource from $85.00 to $80.00 and set a “hold” rating on the stock in a research report on Monday, May 4th. Stephens cut their price objective on 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. Benchmark decreased their target price on shares of Builders FirstSource from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Barclays dropped their price target on shares of Builders FirstSource from $114.00 to $93.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Finally, Bank of America reduced their price objective on shares of Builders FirstSource from $123.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. Nine investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Builders FirstSource has an average rating of “Hold” and an average price target of $99.97.

More Builders FirstSource News

Here are the key news stories impacting Builders FirstSource this week:

• Positive Sentiment: An insider reportedly purchased 50,000 BLDR shares for approximately $4.4 million, potentially signaling confidence that the selloff has created value. Builders FirstSource Falls as Investors Weigh Weak Housing Signals and Earnings Risk

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.