Bamco Inc. NY Purchases New Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Bamco Inc. NY acquired a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 187,444 shares of the company’s stock, valued at approximately $36,338,000.

Several other large investors also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Builders FirstSource in the second quarter worth approximately $27,000. Brooklyn Investment Group purchased a new stake in Builders FirstSource in the 3rd quarter worth approximately $28,000. Armstrong Advisory Group Inc. acquired a new stake in shares of Builders FirstSource during the 3rd quarter valued at $30,000. First Horizon Advisors Inc. increased its stake in shares of Builders FirstSource by 42.1% in the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after acquiring an additional 75 shares during the last quarter. Finally, New Millennium Group LLC purchased a new stake in shares of Builders FirstSource during the second quarter worth $38,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on BLDR. Royal Bank of Canada boosted their target price on Builders FirstSource from $178.00 to $187.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Baird R W upgraded shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. B. Riley dropped their price target on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price objective on shares of Builders FirstSource in a research note on Tuesday, October 29th. Finally, Benchmark lowered their target price on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Builders FirstSource currently has an average rating of “Moderate Buy” and a consensus target price of $206.47.

Builders FirstSource Trading Down 1.0 %

Shares of BLDR stock opened at $184.65 on Tuesday. The firm has a market capitalization of $21.25 billion, a P/E ratio of 18.03, a price-to-earnings-growth ratio of 1.04 and a beta of 2.08. Builders FirstSource, Inc. has a 1 year low of $130.75 and a 1 year high of $214.70. The firm’s fifty day simple moving average is $185.11 and its 200 day simple moving average is $168.62. 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). Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same period in the prior year, the company posted $4.24 EPS. The firm’s quarterly revenue was down 6.7% on a year-over-year basis. As a group, sell-side analysts predict that Builders FirstSource, Inc. will post 11.56 EPS for the current year.

Builders FirstSource declared that its board has initiated a stock buyback program on Tuesday, August 6th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Cleveland A. Christophe sold 10,000 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $178.41, for a total value of $1,784,100.00. Following the completion of the transaction, the director now owns 33,083 shares in the company, valued at approximately $5,902,338.03. This represents a 23.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate 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.