OLD National Bancorp IN Makes New $298,000 Investment in Builders FirstSource, Inc. (NYSE:BLDR)

OLD National Bancorp IN purchased a new stake in Builders FirstSource, Inc. (NYSE:BLDR) during the third quarter, HoldingsChannel.com reports. The fund purchased 1,536 shares of the company’s stock, valued at approximately $298,000.

Other large investors have also modified their holdings of the company. Boston Partners lifted its position in Builders FirstSource by 0.8% during the 1st quarter. Boston Partners now owns 1,377,335 shares of the company’s stock worth $285,794,000 after acquiring an additional 10,551 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Builders FirstSource by 339.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock valued at $163,373,000 after purchasing an additional 911,990 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Builders FirstSource by 22.7% in the second quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock worth $147,059,000 after purchasing an additional 196,571 shares during the period. William Blair Investment Management LLC lifted its position in shares of Builders FirstSource by 1.2% during the 2nd quarter. William Blair Investment Management LLC now owns 1,051,461 shares of the company’s stock worth $145,533,000 after purchasing an additional 12,518 shares during the last quarter. Finally, Anomaly Capital Management LP boosted its stake in Builders FirstSource by 22.5% during the 2nd quarter. Anomaly Capital Management LP now owns 1,020,441 shares of the company’s stock valued at $141,239,000 after purchasing an additional 187,371 shares during the period. 95.53% of the stock is owned by institutional investors.

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 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 owns 95,333 shares in the company, valued at approximately $14,650,775.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

Builders FirstSource Stock Down 0.8 %

Shares of NYSE:BLDR opened at $179.24 on Thursday. The company’s fifty day moving average is $183.18 and its 200-day moving average is $169.18. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. Builders FirstSource, Inc. has a 52 week low of $105.24 and a 52 week high of $214.70. The company has a market capitalization of $21.88 billion, a PE ratio of 15.35, a P/E/G ratio of 11.48 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.48. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The firm had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.48 billion. During the same period in the previous year, the business earned $3.89 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities research analysts predict that Builders FirstSource, Inc. will post 11.68 earnings per share for the current fiscal year.

Builders FirstSource announced that its board has approved a stock buyback plan on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 5.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Oppenheimer lifted their price target on Builders FirstSource from $205.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Loop Capital upped their target price on shares of Builders FirstSource from $190.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Wedbush restated an “outperform” rating and issued a $175.00 price target on shares of Builders FirstSource in a research report on Tuesday, August 6th. Royal Bank of Canada cut their price objective on shares of Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group boosted their price target on Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Four research 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $198.38.

Builders FirstSource 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.