Oppenheimer & Co. Inc. Boosts Stake in Builders FirstSource, Inc. (NYSE:BLDR)

Oppenheimer & Co. Inc. raised its position in Builders FirstSource, Inc. (NYSE:BLDR) by 22.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,482 shares of the company’s stock after buying an additional 4,814 shares during the period. Oppenheimer & Co. Inc.’s holdings in Builders FirstSource were worth $3,665,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH lifted its position in shares of Builders FirstSource by 73.9% during the fourth quarter. Allianz Asset Management GmbH now owns 128,348 shares of the company’s stock worth $21,426,000 after purchasing an additional 54,557 shares during the last quarter. Boulder Hill Capital Management LP bought a new position in shares of Builders FirstSource during the fourth quarter worth about $851,000. Westfield Capital Management Co. LP lifted its position in shares of Builders FirstSource by 11.2% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,416,611 shares of the company’s stock worth $236,489,000 after purchasing an additional 143,041 shares during the last quarter. New Mexico Educational Retirement Board lifted its position in shares of Builders FirstSource by 512.3% during the first quarter. New Mexico Educational Retirement Board now owns 39,800 shares of the company’s stock worth $8,300,000 after purchasing an additional 33,300 shares during the last quarter. Finally, Pitcairn Co. lifted its position in shares of Builders FirstSource by 37.2% during the fourth quarter. Pitcairn Co. now owns 21,051 shares of the company’s stock worth $3,514,000 after purchasing an additional 5,704 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on BLDR. Zelman & Associates reaffirmed a “hold” rating on shares of Builders FirstSource in a research report on Monday, June 17th. Barclays reduced their price target on shares of Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Wedbush reissued an “outperform” rating and issued a $175.00 target price on shares of Builders FirstSource in a report on Tuesday, August 6th. Bank of America cut shares of Builders FirstSource from a “buy” rating to a “neutral” rating and cut their target price for the stock from $183.00 to $180.00 in a report on Friday, August 2nd. Finally, Royal Bank of Canada cut their target price on shares of Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Builders FirstSource presently has a consensus rating of “Moderate Buy” and an average price target of $181.57.

Insider Activity at Builders FirstSource

In related news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the transaction, the director now owns 95,333 shares in the company, valued at $14,650,775.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

Builders FirstSource Price Performance

Shares of NYSE:BLDR opened at $183.30 on Monday. The firm’s 50 day moving average is $162.36 and its two-hundred day moving average is $170.95. Builders FirstSource, Inc. has a 52 week low of $105.24 and a 52 week high of $214.70. The firm has a market capitalization of $22.37 billion, a P/E ratio of 15.69, a PEG ratio of 10.06 and a beta of 2.06. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.02 by $0.48. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The company had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.48 billion. During the same quarter last year, the business earned $3.89 earnings per share. Builders FirstSource’s revenue was down 1.6% compared to the same quarter last year. Analysts anticipate that Builders FirstSource, Inc. will post 11.65 earnings per share for the current year.

Builders FirstSource announced that its Board of Directors has authorized a share buyback program on Tuesday, August 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

About Builders FirstSource

Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, floor trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products comprising intricate mouldings, stair parts, and columns under the Synboard brand name.