Principal Financial Group Inc. Buys 56,009 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Principal Financial Group Inc. grew its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 38.5% in the third quarter, HoldingsChannel.com reports. The fund owned 201,306 shares of the company’s stock after acquiring an additional 56,009 shares during the period. Principal Financial Group Inc.’s holdings in Builders FirstSource were worth $39,025,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BLDR. Forsta AP Fonden grew its holdings in Builders FirstSource by 12.1% during the third quarter. Forsta AP Fonden now owns 26,800 shares of the company’s stock valued at $5,195,000 after purchasing an additional 2,900 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Builders FirstSource by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 785,842 shares of the company’s stock worth $152,343,000 after purchasing an additional 16,000 shares in the last quarter. AMF Tjanstepension AB acquired a new position in shares of Builders FirstSource in the 3rd quarter valued at $1,471,000. Brophy Wealth Management LLC bought a new stake in shares of Builders FirstSource in the 3rd quarter valued at $894,000. Finally, Cerity Partners LLC raised its stake in Builders FirstSource by 77.3% during the 3rd quarter. Cerity Partners LLC now owns 235,597 shares of the company’s stock worth $45,673,000 after buying an additional 102,729 shares during the period. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Loop Capital boosted their target price on Builders FirstSource from $190.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, September 20th. The Goldman Sachs Group assumed coverage on Builders FirstSource in a research report on Thursday, October 10th. They issued a “buy” rating and a $225.00 price objective for the company. StockNews.com downgraded shares of Builders FirstSource from a “buy” rating to a “hold” rating in a report on Monday, December 16th. Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and upped their price target for the company from $165.00 to $220.00 in a report on Monday, September 16th. Finally, Oppenheimer restated an “outperform” rating and set a $225.00 price objective on shares of Builders FirstSource in a report on Tuesday, October 29th. Four investment 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $210.00.

Builders FirstSource Price Performance

NYSE:BLDR opened at $149.03 on Tuesday. The stock has a market capitalization of $17.15 billion, a PE ratio of 14.55, a P/E/G ratio of 0.96 and a beta of 2.06. Builders FirstSource, Inc. has a 1-year low of $130.75 and a 1-year high of $214.70. The firm has a fifty day simple moving average of $176.83 and a 200 day simple moving average of $169.16. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). The firm had revenue of $4.23 billion during 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 business’s revenue was down 6.7% on a year-over-year basis. During the same period last year, the business earned $4.24 EPS. On average, research analysts expect that Builders FirstSource, Inc. will post 11.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of Builders FirstSource stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

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.