Mirae Asset Global Investments Co. Ltd. Buys 1,442 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 21.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,313 shares of the company’s stock after buying an additional 1,442 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Builders FirstSource were worth $1,615,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its holdings in Builders FirstSource by 339.8% during 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 last quarter. Bessemer Group Inc. raised its stake in shares of Builders FirstSource by 477,028.7% during the first quarter. Bessemer Group Inc. now owns 448,501 shares of the company’s stock worth $93,535,000 after buying an additional 448,407 shares during the last quarter. Clearbridge Investments LLC bought a new position in Builders FirstSource in the second quarter valued at approximately $49,000,000. Oakworth Capital Inc. acquired a new stake in Builders FirstSource during the 3rd quarter worth $40,955,000. Finally, Bank of New York Mellon Corp grew its holdings in Builders FirstSource by 22.7% during 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 acquiring an additional 196,571 shares during the period. 95.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 95,333 shares of the company’s stock, valued at $14,650,775.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is currently owned by corporate insiders.

Builders FirstSource Stock Performance

Shares of BLDR stock opened at $171.40 on Friday. Builders FirstSource, Inc. has a 12 month low of $107.84 and a 12 month high of $214.70. The company’s fifty day simple moving average is $184.58 and its 200-day simple moving average is $168.66. The firm has a market cap of $19.96 billion, a PE ratio of 15.12, a P/E/G ratio of 11.48 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 (NYSE:BLDR) last issued its quarterly 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 firm had revenue of $4.46 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $3.89 EPS. Equities research analysts expect 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 buyback plan on Tuesday, August 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

BLDR has been the topic of several recent research reports. Oppenheimer restated an “outperform” rating and issued a $225.00 price target on shares of Builders FirstSource in a research report on Tuesday. Jefferies Financial Group boosted their target price on Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Baird R W upgraded shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. UBS Group initiated coverage on shares of Builders FirstSource in a research note on Friday, October 25th. They issued a “buy” rating and a $232.00 target price for the company. Finally, Stifel Nicolaus reduced their price target on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $200.35.

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.