Builders FirstSource, Inc. (NYSE:BLDR) Shares Bought by 1832 Asset Management L.P.

1832 Asset Management L.P. lifted its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 28.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,639 shares of the company’s stock after purchasing an additional 34,152 shares during the period. 1832 Asset Management L.P. owned about 0.13% of Builders FirstSource worth $21,542,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Mount Yale Investment Advisors LLC lifted its holdings in Builders FirstSource by 114.4% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 2,350 shares of the company’s stock worth $325,000 after buying an additional 1,254 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Builders FirstSource by 22.4% during the second quarter. ProShare Advisors LLC now owns 19,216 shares of the company’s stock worth $2,660,000 after acquiring an additional 3,517 shares during the last quarter. Ensign Peak Advisors Inc lifted its stake in shares of Builders FirstSource by 9.5% in the second quarter. Ensign Peak Advisors Inc now owns 214,570 shares of the company’s stock worth $29,699,000 after acquiring an additional 18,686 shares in the last quarter. Lodge Hill Capital LLC boosted its holdings in Builders FirstSource by 179.3% in the second quarter. Lodge Hill Capital LLC now owns 210,300 shares of the company’s stock valued at $29,108,000 after purchasing an additional 135,000 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its stake in Builders FirstSource by 1.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 14,954 shares of the company’s stock valued at $2,070,000 after purchasing an additional 273 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BLDR shares. Barclays cut their target price on Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Stifel Nicolaus reduced their price objective on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. StockNews.com raised shares of Builders FirstSource from a “hold” rating to a “buy” rating in a research report on Monday. Bank of America upped their target price on shares of Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Finally, Loop Capital lifted their price target on Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $190.00.

Insider Buying and Selling

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the completion of the transaction, the director now owns 95,333 shares in the company, valued at approximately $14,650,775.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Builders FirstSource Stock Performance

BLDR stock opened at $195.81 on Tuesday. Builders FirstSource, Inc. has a 1 year low of $105.24 and a 1 year high of $214.70. The stock has a market capitalization 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 debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. The stock’s fifty day moving average is $168.61 and its two-hundred day moving average is $170.60.

Builders FirstSource (NYSE:BLDR) last posted its earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $4.48 billion. During the same period in the previous year, the business posted $3.89 EPS. Builders FirstSource’s revenue was down 1.6% on a year-over-year basis. On average, research analysts predict that Builders FirstSource, Inc. will post 11.65 EPS for the current year.

Builders FirstSource announced that its board has approved a share repurchase program on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 5.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are 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.