July 5, 2023 – Whittier Trust Co., a prominent financial institution, has increased its holdings in Builders FirstSource, Inc. (NYSE: BLDR) by 1.5% during the first quarter of this year. This news comes from the company’s recent 13F filing with the Securities and Exchange Commission. The firm now owns an impressive 119,778 shares of Builders FirstSource’s stock after acquiring an additional 1,787 shares over the past few months. The total worth of Whittier Trust Co.’s holdings in Builders FirstSource is estimated at $10,634,000 as of the end of the most recent quarter.
Builders FirstSource, Inc., along with its subsidiaries, specializes in manufacturing and supplying building materials, manufactured components, and construction services across the United States. The company primarily caters to professional homebuilders, sub-contractors, remodelers, and consumers alike. Their extensive product range includes lumber and lumber sheet goods such as dimensional lumber, plywood, and oriented strand board products used in on-site house framing.
In addition to these traditional building materials, Builders FirstSource also offers an array of manufactured products like wood floor and roof trusses, steel roof trusses, wall panels, stairs, engineered wood products,and windows. They also provide interior and exterior door units as well as a variety of interior trims and custom products including intricate mouldings,stair parts,and columns under their Synboard brand name.
This recent increase in holdings by Whittier Trust Co. signifies their confidence in Builders FirstSource’s prospects within the market.The trust company joins a growing list of analysts who have commented positively on BLDR shares recently.Analysts from DA Davidson raised their price objective on Builders FirstSource from $80.00 to $105.00 on May 4th.Truist Financial also increased their target price from $124.00 to $148.00 on June 26th.
Furthermore, Zelman & Associates upgraded their rating on Builders FirstSource from “hold” to “buy” on May 8th. Similarly, Royal Bank of Canada raised their rating from “sector perform” to “outperform,” and raised the target price from $78.00 to $135.00 on May 3rd.
In recent weeks, StockNews.com also initiated coverage on Builders FirstSource and assigned a “buy” rating to the company on May 18th.As it stands now, five research analysts have given a hold rating, while ten have issued a buy rating for Builders FirstSource’s stock.According to Bloomberg.com, the stock currently holds an average rating of “Moderate Buy” with a consensus target price of $114.25.
These positive ratings and assessments by industry experts highlight the market confidence in Builders FirstSource’s growth potential.Coupled with Whittier Trust Co.’s increased holdings in the company, it is clear that investors are recognizing the value and potential of this leading manufacturer and supplier of building materials in the United States.
As we move further into 2023, all eyes will be on Builders FirstSource as it continues to push boundaries within the industry and solidify its position as a trusted provider of quality building materials and construction services. With favorable ratings from analysts and increased interest from major financial institutions like Whittier Trust Co., there is no doubt that Builders FirstSource is poised for ongoing success.
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Builders FirstSource, Inc.: Increasing Institutional Interest and Insider Confidence Point Towards Growth Potential
Builders FirstSource, Inc., a leading manufacturer and supplier of building materials in the United States, has recently seen an increase in interest from hedge funds and institutional investors. Several financial firms have added to or reduced their stakes in the company, indicating the growing confidence in its growth potential.
One notable investor is Benjamin Edwards Inc., which acquired a new stake in Builders FirstSource during the fourth quarter of last year. The investment was valued at approximately $28,000, further highlighting the attractiveness of the company’s stock.
UMB Bank n.a. also entered into Builders FirstSource during the first quarter of this year, purchasing shares worth around $28,000. This move reflects UMB Bank’s confidence in the company’s future performance and aligns with its investment strategy.
Institutional investors have shown significant interest in Builders FirstSource as well. Massmutual Trust Co. FSB ADV increased its position by 179% during the first quarter, acquiring an additional 213 shares worth $29,000. AXS Investments LLC also invested in Builders FirstSource, purchasing shares valued at approximately $37,000 during the fourth quarter.
Advisors Asset Management Inc., another institutional investor, demonstrated a strong belief in Builders FirstSource by increasing its position by 135% during the same period. Their ownership now stands at 706 shares worth $46,000.
These investments indicate that institutional investors hold a hefty percentage (94.57%) of Builders FirstSource’s stock. Such high ownership suggests that these seasoned investors recognize the value and growth potential within this manufacturing and supply company.
On another note, insiders within Builders FirstSource have made notable transactions that deserve attention. Insider Jami Beckmann sold 2,000 shares on June 6th for an average price of $120.69 per share. Following this sale, Beckmann now holds 41,262 shares valued at approximately $4,979,910.
Insider Michael Alan Farmer also sold 12,500 shares of Builders FirstSource stock on May 5th, at an average price of $108.97 per share. Farmer now owns 62,122 shares valued at $6,769,434.
These transactions highlight the confidence that insiders have in the company’s stock and shed light on their perception of its future growth potential.
Builders FirstSource primarily engages in the manufacturing and supply of building materials to various stakeholders within the construction industry. The company offers a range of products, including lumber and sheet goods, wood floor and roof trusses, wall panels, windows, doors, and custom interior trims.
With a current market capitalization of $17.47 billion and a price-to-earnings ratio of 8.80, Builders FirstSource has demonstrated solid financial performance. The company reported an impressive earnings per share (EPS) of $2.96 for the last quarter – surpassing analysts’ consensus estimate by $1.33 – alongside a revenue figure of $3.88 billion.
Although revenue was down by 31.6% compared to the same period last year due to pandemic-related challenges and supply chain disruptions, Builders FirstSource showcased resilience by maintaining a strong net margin of 11.68%. Analysts anticipate that the company will achieve an EPS of 10.27 for this fiscal year.
The trading data for BLDR stock reveals interesting patterns as well. It opened at $136.33 on July 5th with a fifty-day moving average price positioned at $121.98 and a two-hundred-day moving average price recorded at $98.59.
Despite experiencing volatility like any other stock in its sector, Builders FirstSource reached new heights with its fifty-two week high trading point at $138.53 from a low figure of $52.70.
In conclusion, Builders FirstSource has attracted significant attention from institutional investors and hedge funds recently. These investments indicate a high level of confidence in the company’s growth potential and financial performance.
Insider transactions have also shed light on the positive sentiment surrounding Builders FirstSource, with key executives demonstrating faith in the stock and its future prospects.
With solid financial results, a diverse product portfolio, and a resilient net margin, Builders FirstSource is poised for continued success within the construction industry. As investors continue to recognize its value, this manufacturing giant is likely to see even more interest from institutional investors and further growth in the future.
