Vaughan Nelson Investment Management L.P. Grows Position in Builders FirstSource, Inc. (NYSE:BLDR)

Vaughan Nelson Investment Management L.P. raised its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 47.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,385 shares of the company’s stock after acquiring an additional 60,955 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 0.16% of Builders FirstSource worth $36,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Baillie Gifford & Co. purchased a new stake in Builders FirstSource during the third quarter valued at $267,132,000. Diamond Hill Capital Management Inc. purchased a new stake in shares of Builders FirstSource during the 3rd quarter valued at about $255,867,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Builders FirstSource by 339.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock valued at $163,373,000 after acquiring an additional 911,990 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Builders FirstSource by 109.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 904,600 shares of the company’s stock worth $175,366,000 after acquiring an additional 473,238 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in Builders FirstSource by 477,028.7% during the first quarter. Bessemer Group Inc. now owns 448,501 shares of the company’s stock worth $93,535,000 after acquiring an additional 448,407 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Loop Capital lifted their target price on Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Wedbush reaffirmed an “outperform” rating and set a $230.00 price objective on shares of Builders FirstSource in a research note on Wednesday, November 6th. Oppenheimer reissued an “outperform” rating and issued a $225.00 target price on shares of Builders FirstSource in a research note on Tuesday, October 29th. DA Davidson raised their price target on Builders FirstSource from $169.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, Bank of America upped their price objective on Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $206.47.

Builders FirstSource Trading Down 2.7 %

Shares of NYSE:BLDR opened at $176.28 on Friday. The company has a market capitalization of $20.29 billion, a PE ratio of 17.21, a P/E/G ratio of 1.00 and a beta of 2.08. 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, Inc. has a 12-month low of $129.80 and a 12-month high of $214.70. The business’s fifty day simple moving average is $185.83 and its 200-day simple moving average is $168.18.

Builders FirstSource (NYSE:BLDR) last posted its earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.02). The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. Builders FirstSource’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter last year, the firm earned $4.24 EPS. As a group, equities research analysts predict that Builders FirstSource, Inc. will post 11.56 earnings per share for the current fiscal year.

Builders FirstSource declared that its board has initiated 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 reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Cleveland A. Christophe sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the transaction, the director now directly owns 33,083 shares of the company’s stock, valued at $5,902,338.03. This represents a 23.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by company insiders.

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.