Artemis Investment Management LLP Raises Position in Builders FirstSource, Inc. (NYSE:BLDR)

Artemis Investment Management LLP boosted its position in Builders FirstSource, Inc. (NYSE:BLDR) by 22.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 585,719 shares of the company’s stock after purchasing an additional 108,471 shares during the quarter. Builders FirstSource comprises 1.7% of Artemis Investment Management LLP’s investment portfolio, making the stock its 7th biggest position. Artemis Investment Management LLP owned about 0.48% of Builders FirstSource worth $113,547,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BLDR. New Mexico Educational Retirement Board lifted its position in shares of Builders FirstSource by 512.3% in the 1st 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 period. Pitcairn Co. increased its holdings in shares of Builders FirstSource by 37.2% in 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. SG Americas Securities LLC lifted its position in Builders FirstSource by 273.0% during the first quarter. SG Americas Securities LLC now owns 62,622 shares of the company’s stock valued at $13,060,000 after purchasing an additional 45,832 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Builders FirstSource by 762.2% during the 1st quarter. Cetera Investment Advisers now owns 50,982 shares of the company’s stock valued at $10,632,000 after buying an additional 45,069 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in Builders FirstSource by 21.1% during the first quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock valued at $4,173,000 after purchasing an additional 3,483 shares during the period. Institutional investors own 95.53% of the company’s stock.

Builders FirstSource Price Performance

Shares of BLDR stock opened at $193.48 on Wednesday. The company has a market capitalization of $23.62 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 11.56 and a beta of 2.06. Builders FirstSource, Inc. has a twelve month low of $105.24 and a twelve month high of $214.70. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88. The firm has a fifty day simple moving average of $175.50 and a 200-day simple moving average of $170.02.

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, topping the consensus estimate of $3.02 by $0.48. The firm had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the business posted $3.89 earnings per share. Equities research analysts anticipate that Builders FirstSource, Inc. will post 11.68 earnings per share for the current fiscal year.

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

Insider Activity

In related news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $14,650,775.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BLDR shares. Oppenheimer boosted their price target on Builders FirstSource from $205.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. B. Riley decreased their target price on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Wedbush reiterated an “outperform” rating and set a $175.00 target price on shares of Builders FirstSource in a research report on Tuesday, August 6th. Stifel Nicolaus dropped their price target on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Baird R W upgraded 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $190.00.

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.