Private Advisor Group LLC Raises Stake in Builders FirstSource, Inc. (NYSE:BLDR)

Private Advisor Group LLC boosted its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 107.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,999 shares of the company’s stock after buying an additional 5,176 shares during the quarter. Private Advisor Group LLC’s holdings in Builders FirstSource were worth $1,384,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Westside Investment Management Inc. acquired a new position in Builders FirstSource during the first quarter valued at $31,000. ORG Partners LLC acquired a new position in shares of Builders FirstSource in the 1st quarter valued at about $33,000. American Capital Advisory LLC purchased a new stake in shares of Builders FirstSource in the first quarter worth about $34,000. Principal Securities Inc. acquired a new stake in Builders FirstSource during the fourth quarter worth about $32,000. Finally, Innealta Capital LLC purchased a new position in Builders FirstSource during the second quarter valued at approximately $27,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BLDR. Oppenheimer raised their price objective on shares of Builders FirstSource from $190.00 to $205.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. Stifel Nicolaus cut their price objective on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Baird R W raised shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. StockNews.com lowered Builders FirstSource from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. Finally, Wedbush reiterated an “outperform” rating and set a $175.00 price target on shares of Builders FirstSource in a research report on Tuesday, August 6th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $181.57.

Builders FirstSource Trading Up 4.3 %

Shares of BLDR opened at $183.30 on Friday. The firm’s fifty day moving average is $162.36 and its two-hundred day moving average is $171.10. The stock has a market cap of $21.35 billion, a PE ratio of 15.69, a price-to-earnings-growth 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, Inc. has a 52-week low of $105.24 and a 52-week high of $214.70.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 earnings per share (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 during the quarter, compared to analysts’ expectations of $4.48 billion. During the same quarter in the prior year, the company earned $3.89 EPS. Builders FirstSource’s revenue was down 1.6% compared to the same quarter last year. Research analysts forecast that Builders FirstSource, Inc. will post 11.65 earnings per share for the current fiscal year.

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

Insider Activity at Builders FirstSource

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the company’s 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 sale, the director now directly owns 95,333 shares in the company, valued at approximately $14,650,775.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

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.