Builders FirstSource Board Raises Stock Repurchase Plan By $1 Bln

(RTTNews) - Builders FirstSource, Inc. (BLDR), a supplier of structural building products, announced Monday that its Board of Directors approved an increase to its existing stock repurchase plan in the amount of $1 billion.

The total stock repurchase would be around $1.5 billion inclusive of the remaining outstanding authorization at the end of the third quarter of 2022.

As announced earlier, the Company repurchased approximately 29.5% of its total shares outstanding since August of 2021, at an average price of $62.23 per share for an aggregate investment of $3.8 billion.

Since that time, the company has repurchased an additional around 1.1 million shares for $68 million at an average price of $63.05 per share.