Wedmont Private Capital Raises Position in Builders FirstSource, Inc. (NYSE:BLDR)

Wedmont Private Capital increased its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 5.5% during the third quarter, Holdings Channel.com reports. The firm owned 2,214 shares of the company’s stock after acquiring an additional 115 shares during the quarter. Wedmont Private Capital’s holdings in Builders FirstSource were worth $425,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in BLDR. Vanguard Group Inc. raised its position in Builders FirstSource by 15.7% in the 4th quarter. Vanguard Group Inc. now owns 14,668,049 shares of the company’s stock worth $2,448,684,000 after purchasing an additional 1,985,297 shares during the period. Massachusetts Financial Services Co. MA raised its position in Builders FirstSource by 339.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock worth $163,373,000 after purchasing an additional 911,990 shares during the period. Bessemer Group Inc. raised its position in Builders FirstSource by 477,028.7% in the 1st quarter. Bessemer Group Inc. now owns 448,501 shares of the company’s stock worth $93,535,000 after purchasing an additional 448,407 shares during the period. Clearbridge Investments LLC purchased a new position in Builders FirstSource in the 2nd quarter worth $49,000,000. Finally, Bank of New York Mellon Corp raised its position in Builders FirstSource by 22.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock worth $147,059,000 after purchasing an additional 196,571 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Builders FirstSource Stock Up 0.7 %

Shares of Builders FirstSource stock opened at $193.00 on Friday. 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 has a market capitalization of $23.56 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 11.48 and a beta of 2.06. Builders FirstSource, Inc. has a 52-week low of $105.24 and a 52-week high of $214.70. The company has a 50-day simple moving average of $177.50 and a two-hundred day simple moving average of $169.97.

Builders FirstSource (NYSE:BLDR) last issued its earnings results 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. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The business had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.48 billion. During the same period in the previous year, the company earned $3.89 earnings per share. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, analysts anticipate that Builders FirstSource, Inc. will post 11.68 EPS for the current fiscal year.

Builders FirstSource announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 5.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

BLDR has been the topic of a number of recent analyst reports. Royal Bank of Canada cut their price target on shares of Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. 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. Barclays lifted their target price on shares of Builders FirstSource from $182.00 to $211.00 and gave the company an “overweight” rating in a research note on Wednesday. The Goldman Sachs Group began coverage on shares of Builders FirstSource in a research note on Thursday. They set a “buy” rating and a $225.00 target price on the stock. Finally, Loop Capital lifted their target price on shares of Builders FirstSource from $190.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Builders FirstSource currently has a consensus rating of “Moderate Buy” and a consensus price target of $196.38.

Insider Activity

In other news, Director Craig Arthur Steinke sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were 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 directly owns 95,333 shares of the company’s stock, valued at $14,650,775.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is owned by corporate insiders.

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.