Van ECK Associates Corp Grows Position in Builders FirstSource, Inc. (NYSE:BLDR)

Van ECK Associates Corp increased its position in Builders FirstSource, Inc. (NYSE:BLDR) by 11.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,676 shares of the company’s stock after acquiring an additional 2,050 shares during the quarter. Van ECK Associates Corp’s holdings in Builders FirstSource were worth $3,706,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prosperitas Financial LLC bought a new position in Builders FirstSource in the 3rd quarter worth $234,000. Farther Finance Advisors LLC lifted its position in shares of Builders FirstSource by 8.4% in the third quarter. Farther Finance Advisors LLC now owns 4,969 shares of the company’s stock valued at $963,000 after acquiring an additional 384 shares in the last quarter. Affinity Investment Advisors LLC boosted its stake in shares of Builders FirstSource by 40.9% in the third quarter. Affinity Investment Advisors LLC now owns 4,098 shares of the company’s stock worth $794,000 after acquiring an additional 1,190 shares during the period. Gladstone Institutional Advisory LLC purchased a new stake in shares of Builders FirstSource during the third quarter worth about $2,453,000. Finally, Cigna Investments Inc. New bought a new stake in Builders FirstSource during the 3rd quarter valued at approximately $239,000. Institutional investors own 95.53% of the company’s stock.

Builders FirstSource Trading Down 0.5 %

BLDR stock opened at $178.35 on Friday. The company has a market capitalization of $20.52 billion, a PE ratio of 17.42, a P/E/G ratio of 10.48 and a beta of 2.08. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.77 and a quick ratio of 1.14. Builders FirstSource, Inc. has a 12 month low of $120.80 and a 12 month high of $214.70. The firm’s 50-day moving average is $184.79 and its 200 day moving average is $168.38.

Builders FirstSource (NYSE:BLDR) last issued its earnings results on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The business’s revenue was down 6.7% compared to the same quarter last year. During the same period last year, the business posted $4.24 earnings per share. On average, research analysts anticipate that Builders FirstSource, Inc. will post 11.64 EPS for the current year.

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

Insider Buying and Selling at Builders FirstSource

In related news, Director Cleveland A. Christophe sold 10,000 shares of the stock in a transaction that occurred 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 sale, the director now owns 33,083 shares of the company’s stock, valued at $5,902,338.03. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BLDR. The Goldman Sachs Group initiated coverage on shares of Builders FirstSource in a report on Thursday, October 10th. They set a “buy” rating and a $225.00 price objective for the company. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 target price on shares of Builders FirstSource in a research note on Tuesday, October 29th. Jefferies Financial Group boosted their price target on shares of Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. StockNews.com lowered Builders FirstSource from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Stifel Nicolaus decreased their target price on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average 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.