Farther Finance Advisors LLC Raises Stock Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Farther Finance Advisors LLC lifted its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 8.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,969 shares of the company’s stock after purchasing an additional 384 shares during the quarter. Farther Finance Advisors LLC’s holdings in Builders FirstSource were worth $963,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BLDR. Norden Group LLC purchased a new position in shares of Builders FirstSource during the first quarter worth about $265,000. Private Advisor Group LLC boosted its stake in Builders FirstSource by 20.2% in the first quarter. Private Advisor Group LLC now owns 4,823 shares of the company’s stock worth $1,006,000 after buying an additional 811 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in Builders FirstSource in the first quarter worth approximately $119,000. Nordea Investment Management AB boosted its stake in Builders FirstSource by 5.6% in the first quarter. Nordea Investment Management AB now owns 9,834 shares of the company’s stock worth $2,067,000 after buying an additional 523 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Builders FirstSource by 3.8% in the first quarter. Daiwa Securities Group Inc. now owns 20,659 shares of the company’s stock worth $4,308,000 after buying an additional 752 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on BLDR shares. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 target price on shares of Builders FirstSource in a research note on Tuesday, October 29th. Loop Capital upped their target price on Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Wedbush reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Builders FirstSource in a research note on Tuesday, August 6th. Jefferies Financial Group upped their target price on Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Truist Financial upgraded Builders FirstSource from a “hold” rating to a “buy” rating and boosted their price objective for the company from $165.00 to $220.00 in a research report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $203.50.

Insider Buying and Selling

In related news, Director Craig Arthur Steinke sold 30,000 shares of the company’s 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 sale, the director now directly owns 95,333 shares of the company’s stock, valued at $14,650,775.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by insiders.

Builders FirstSource Price Performance

Shares of Builders FirstSource stock opened at $172.43 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88. The company has a market cap of $20.08 billion, a PE ratio of 15.14, a P/E/G ratio of 10.11 and a beta of 2.08. The business has a 50 day moving average of $184.45 and a 200 day moving average of $168.43. Builders FirstSource, Inc. has a 52 week low of $120.80 and a 52 week high of $214.70.

Builders FirstSource (NYSE:BLDR) last announced its 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. The company had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.48 billion. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.89 earnings per share. As a group, equities research analysts forecast that Builders FirstSource, Inc. will post 11.69 earnings per share for the current year.

Builders FirstSource announced that its Board of Directors has authorized a stock buyback program on Tuesday, August 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.