Pallas Capital Advisors LLC Makes New Investment in Builders FirstSource, Inc. (NYSE:BLDR)

Pallas Capital Advisors LLC purchased a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,394 shares of the company’s stock, valued at approximately $435,000.

A number of other hedge funds have also recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in Builders FirstSource during the second quarter worth $27,000. Armstrong Advisory Group Inc. acquired a new stake in shares of Builders FirstSource during the 3rd quarter worth about $30,000. ORG Partners LLC purchased a new stake in Builders FirstSource in the 1st quarter valued at about $33,000. First Horizon Advisors Inc. lifted its position in Builders FirstSource by 42.1% in the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after buying an additional 75 shares during the last quarter. Finally, New Millennium Group LLC purchased a new position in Builders FirstSource during the second quarter worth about $38,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Insider Activity at Builders FirstSource

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the sale, the director now owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by corporate insiders.

Builders FirstSource Price Performance

Shares of BLDR opened at $171.40 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88. The firm’s fifty day simple moving average is $184.58 and its 200-day simple moving average is $168.66. The firm has a market capitalization of $19.96 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 11.48 and a beta of 2.06. Builders FirstSource, Inc. has a twelve month low of $107.84 and a twelve month high of $214.70.

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

Builders FirstSource announced that its board has approved a share buyback program on Tuesday, August 6th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

BLDR has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their price target on shares of Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Oppenheimer restated an “outperform” rating and set a $225.00 price target on shares of Builders FirstSource in a research note on Tuesday. Robert W. Baird lifted their price objective on Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Truist Financial raised Builders FirstSource from a “hold” rating to a “buy” rating and increased their target price for the stock from $165.00 to $220.00 in a research note on Monday, September 16th. Finally, 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 target price for the company. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.