Builders FirstSource, Inc. (NYSE:BLDR) Stake Lifted by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 9.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,879 shares of the company’s stock after purchasing an additional 159 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Builders FirstSource were worth $260,000 at the end of the most recent quarter.

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

Builders FirstSource Trading Down 2.0 %

Shares of NYSE BLDR opened at $197.74 on Friday. The business has a 50 day simple moving average of $167.76 and a 200 day simple moving average of $170.87. Builders FirstSource, Inc. has a 52 week low of $105.24 and a 52 week high of $214.70. The stock has a market cap of $24.14 billion, a price-to-earnings ratio of 16.93, 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.

Builders FirstSource (NYSE:BLDR) last posted its earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.02 by $0.48. The company had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.89 earnings per share. On average, research analysts predict 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 authorized a share buyback program on Tuesday, August 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have issued reports on BLDR. Robert W. Baird raised Builders FirstSource from a “neutral” rating to an “outperform” rating and upped their price target for the company from $185.00 to $190.00 in a report on Wednesday, August 7th. Wedbush reaffirmed an “outperform” rating and set a $175.00 target price on shares of Builders FirstSource in a report on Tuesday, August 6th. Barclays dropped their price target on Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada decreased their target price on shares of Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Bank of America lifted their target price on shares of Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $190.00.

Insiders Place Their Bets

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the business’s stock in a transaction dated 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 owns 95,333 shares of the company’s stock, valued at $14,650,775.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company 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.