Mitsubishi UFJ Asset Management Co. Ltd. Makes New $12.22 Million Investment in Builders FirstSource, Inc. $BLDR

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 136,613 shares of the company’s stock, valued at approximately $12,224,000.

A number of other hedge funds have also recently modified their holdings of the business. Crown Advisors Management Inc. bought a new position in Builders FirstSource in the 2nd quarter worth $895,000. N.E.W. Advisory Services LLC bought a new stake in Builders FirstSource during the second quarter valued at about $306,000. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Builders FirstSource during the second quarter valued at about $134,908,000. Global Retirement Partners LLC purchased a new stake in Builders FirstSource in the second quarter worth about $49,000. Finally, Bank of New York Mellon Corp purchased a new stake in Builders FirstSource in the second quarter worth about $49,626,000. Institutional investors own 95.53% of the company’s stock.

Builders FirstSource Price Performance

Shares of Builders FirstSource stock opened at $70.31 on Friday. The stock’s 50-day simple moving average is $76.12 and its 200-day simple moving average is $84.69. Builders FirstSource, Inc. has a 52 week low of $65.10 and a 52 week high of $151.03. The company has a market capitalization of $7.57 billion, a price-to-earnings ratio of 77.26, a PEG ratio of 2.35 and a beta of 1.44. The company has a quick ratio of 1.09, a current ratio of 1.79 and a debt-to-equity ratio of 1.14.

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

Builders FirstSource announced that its board has initiated a stock repurchase plan on Thursday, April 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Stifel Nicolaus decreased their price objective on Builders FirstSource from $76.00 to $70.00 and set a “hold” rating on the stock in a research note on Thursday, July 23rd. Wells Fargo & Company cut their price objective on 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. Oppenheimer reduced their target price on shares of Builders FirstSource from $110.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, July 31st. Robert W. Baird set a $75.00 target price on shares of Builders FirstSource in a research note on Friday, July 31st. Finally, The Goldman Sachs Group lowered their price target on shares of Builders FirstSource from $110.00 to $101.00 in a report on Friday, May 1st. Nine equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $90.35.

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.