Apollon Wealth Management LLC Purchases New Position in Builders FirstSource, Inc. (NYSE:BLDR)

Apollon Wealth Management LLC acquired a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,333 shares of the company’s stock, valued at approximately $258,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Diamond Hill Capital Management Inc. purchased a new stake in Builders FirstSource during the 3rd quarter worth $255,867,000. Massachusetts Financial Services Co. MA increased its position in shares of Builders FirstSource by 339.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock worth $163,373,000 after acquiring an additional 911,990 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Builders FirstSource by 109.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 904,600 shares of the company’s stock worth $175,366,000 after acquiring an additional 473,238 shares in the last quarter. Bessemer Group Inc. grew its stake in Builders FirstSource by 477,028.7% during the 1st quarter. Bessemer Group Inc. now owns 448,501 shares of the company’s stock valued at $93,535,000 after purchasing an additional 448,407 shares in the last quarter. Finally, Clearbridge Investments LLC purchased a new stake in Builders FirstSource during the 2nd quarter worth approximately $49,000,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Insiders Place Their Bets

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the business’s stock in a transaction dated 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 owns 33,083 shares of the company’s stock, valued at $5,902,338.03. The trade was a 23.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

Builders FirstSource Stock Performance

BLDR opened at $178.30 on Tuesday. The business has a fifty day simple moving average of $185.83 and a 200-day simple moving average of $168.06. The firm has a market cap of $20.52 billion, a PE ratio of 17.41, a P/E/G ratio of 0.98 and a beta of 2.08. Builders FirstSource, Inc. has a fifty-two week low of $130.75 and a fifty-two week high of $214.70. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 0.83.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings results 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 business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.24 EPS. As a group, equities analysts predict that Builders FirstSource, Inc. will post 11.56 EPS for the current fiscal year.

Builders FirstSource announced that its Board of Directors has initiated a share repurchase program on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Robert W. Baird increased their target price on Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Benchmark decreased their price objective on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. The Goldman Sachs Group started coverage on shares of Builders FirstSource in a research note on Thursday, October 10th. They issued a “buy” rating and a $225.00 target price on the stock. Royal Bank of Canada raised their price objective on Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, Baird R W raised shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.47.

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.