Principal Financial Group Inc. Grows Position in Builders FirstSource, Inc. (NYSE:BLDR)

Principal Financial Group Inc. increased its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 38.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 201,306 shares of the company’s stock after purchasing an additional 56,009 shares during the quarter. Principal Financial Group Inc. owned 0.17% of Builders FirstSource worth $39,025,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Sei Investments Co. increased its stake in Builders FirstSource by 199.9% in the 1st quarter. Sei Investments Co. now owns 88,049 shares of the company’s stock worth $18,363,000 after buying an additional 58,694 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of Builders FirstSource by 73.2% during the first quarter. QRG Capital Management Inc. now owns 16,394 shares of the company’s stock worth $3,419,000 after acquiring an additional 6,927 shares during the last quarter. Qsemble Capital Management LP purchased a new position in Builders FirstSource during the first quarter valued at $237,000. Russell Investments Group Ltd. increased its holdings in Builders FirstSource by 12.1% in the 1st quarter. Russell Investments Group Ltd. now owns 245,536 shares of the company’s stock valued at $51,214,000 after acquiring an additional 26,430 shares during the last quarter. Finally, US Bancorp DE lifted its stake in Builders FirstSource by 5.1% in the 1st quarter. US Bancorp DE now owns 10,101 shares of the company’s stock worth $2,107,000 after purchasing an additional 490 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Jefferies Financial Group raised their price objective on Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Loop Capital lifted their price objective on Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Royal Bank of Canada raised their target price on shares of Builders FirstSource from $178.00 to $187.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. UBS Group began coverage on shares of Builders FirstSource in a research note on Friday, October 25th. They set a “buy” rating and a $232.00 price target on the stock. Finally, B. Riley dropped their price objective 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. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $206.47.

Builders FirstSource Stock Up 2.9 %

NYSE:BLDR opened at $183.59 on Tuesday. The company has a market cap of $21.13 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 0.99 and a beta of 2.08. Builders FirstSource, Inc. has a twelve month low of $121.43 and a twelve month high of $214.70. The company has a current ratio of 1.77, a quick ratio of 1.14 and a debt-to-equity ratio of 0.83. The stock has a fifty day simple moving average of $184.98 and a 200-day simple moving average of $168.25.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $3.07 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.44 billion. Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The company’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.24 EPS. Analysts anticipate that Builders FirstSource, Inc. will post 11.56 EPS for the current year.

Builders FirstSource declared that its board has initiated a share buyback plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 5.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $178.41, for a total value of $1,784,100.00. Following the completion of the sale, the director now directly owns 33,083 shares in the company, valued at approximately $5,902,338.03. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is owned by insiders.

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.