Appian Way Asset Management LP Invests $3.82 Million in Builders FirstSource, Inc. (NYSE:BLDR)

Appian Way Asset Management LP bought a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 27,600 shares of the company’s stock, valued at approximately $3,820,000. Builders FirstSource comprises 1.0% of Appian Way Asset Management LP’s holdings, making the stock its 21st biggest position.

Several other hedge funds also recently added to or reduced their stakes in BLDR. Innealta Capital LLC acquired a new position in Builders FirstSource during the 2nd quarter valued at approximately $27,000. Westside Investment Management Inc. purchased a new stake in shares of Builders FirstSource during the first quarter valued at $31,000. Principal Securities Inc. acquired a new position in shares of Builders FirstSource in the 4th quarter valued at $32,000. ORG Partners LLC purchased a new position in Builders FirstSource in the 1st quarter worth $33,000. Finally, American Capital Advisory LLC acquired a new stake in Builders FirstSource during the 1st quarter worth about $34,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on BLDR. Royal Bank of Canada reduced their price objective on Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Oppenheimer raised their target price on shares of Builders FirstSource from $205.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Wedbush reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Builders FirstSource in a report on Tuesday, August 6th. Loop Capital lifted their price objective on Builders FirstSource from $190.00 to $230.00 and gave the company a “buy” rating in a research note on Friday. Finally, Baird R W raised Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $190.00.

Insider Transactions at Builders FirstSource

In related news, Director Craig Arthur Steinke sold 30,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $153.68, for a total value of $4,610,400.00. Following the completion of the transaction, the director now directly owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Builders FirstSource Stock Performance

BLDR opened at $195.81 on Tuesday. The firm’s fifty day simple moving average is $168.61 and its two-hundred day simple moving average is $170.60. Builders FirstSource, Inc. has a 52-week low of $105.24 and a 52-week high of $214.70. The company has a market cap of $23.90 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 10.06 and a beta of 2.06. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88.

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

Builders FirstSource declared that its board has authorized a share buyback program on Tuesday, August 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors 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.