Builders FirstSource, Inc. (NYSE:BLDR) Shares Acquired by Raymond James & Associates

Raymond James & Associates raised its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 33.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 143,329 shares of the company’s stock after acquiring an additional 36,210 shares during the period. Raymond James & Associates’ holdings in Builders FirstSource were worth $27,786,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BLDR. Park Avenue Securities LLC raised its holdings in Builders FirstSource by 7.5% in the first quarter. Park Avenue Securities LLC now owns 2,962 shares of the company’s stock valued at $618,000 after buying an additional 206 shares during the period. Ballentine Partners LLC purchased a new position in shares of Builders FirstSource in the 1st quarter valued at $248,000. Gateway Investment Advisers LLC acquired a new position in shares of Builders FirstSource during the 1st quarter valued at $334,000. Wealth Enhancement Advisory Services LLC boosted its position in Builders FirstSource by 162.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 58,726 shares of the company’s stock worth $12,247,000 after purchasing an additional 36,330 shares during the period. Finally, Transform Wealth LLC increased its holdings in Builders FirstSource by 16.1% in the 1st quarter. Transform Wealth LLC now owns 38,264 shares of the company’s stock valued at $7,980,000 after purchasing an additional 5,301 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. B. Riley reduced their price objective on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. StockNews.com upgraded Builders FirstSource from a “hold” rating to a “buy” rating in a report on Monday, September 23rd. Robert W. Baird lifted their price objective on shares of Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Wedbush reissued an “outperform” rating and set a $175.00 target price on shares of Builders FirstSource in a research report on Tuesday, August 6th. Finally, Truist Financial raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and raised their price target for the company from $165.00 to $220.00 in a report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $198.38.

Builders FirstSource Price Performance

Shares of BLDR opened at $179.24 on Thursday. Builders FirstSource, Inc. has a 52 week low of $105.24 and a 52 week 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 market cap of $21.88 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 11.48 and a beta of 2.06. The stock has a 50 day moving average of $183.18 and a 200-day moving average of $169.18.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. The firm 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 firm’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.89 earnings per share. As a group, analysts forecast that Builders FirstSource, Inc. will post 11.68 EPS for the current year.

Builders FirstSource declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 5.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity at Builders FirstSource

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction that occurred 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 transaction, the director now directly owns 95,333 shares in the company, valued at $14,650,775.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.80% of the company’s stock.

Builders FirstSource Company Profile

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.