First Horizon Advisors Inc. Increases Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

First Horizon Advisors Inc. lifted its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 84.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 467 shares of the company’s stock after buying an additional 214 shares during the quarter. First Horizon Advisors Inc.’s holdings in Builders FirstSource were worth $91,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BLDR. Advisors Asset Management Inc. increased its stake in shares of Builders FirstSource by 32.0% during the first quarter. Advisors Asset Management Inc. now owns 2,046 shares of the company’s stock valued at $427,000 after purchasing an additional 496 shares in the last quarter. Mount Yale Investment Advisors LLC bought a new position in Builders FirstSource during the 1st quarter valued at approximately $229,000. Janus Henderson Group PLC increased its position in Builders FirstSource by 21.1% during the 1st quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock valued at $4,173,000 after buying an additional 3,483 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Builders FirstSource by 5.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 380,157 shares of the company’s stock valued at $79,282,000 after buying an additional 19,181 shares during the last quarter. Finally, Dynasty Wealth Management LLC bought a new stake in Builders FirstSource in the first quarter worth $357,000. 95.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Cleveland A. Christophe sold 10,000 shares of the business’s 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 transaction, the director now owns 33,083 shares of the company’s stock, valued at approximately $5,902,338.03. The trade was a 23.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BLDR has been the subject of several recent analyst reports. DA Davidson lifted their price target on Builders FirstSource from $169.00 to $175.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Royal Bank of Canada lifted their target price on shares of Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Bank of America increased their price target on shares of Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Baird R W upgraded shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, StockNews.com downgraded Builders FirstSource from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $206.47.

Builders FirstSource Stock Performance

BLDR opened at $178.52 on Friday. The company has a 50 day simple moving average of $186.23 and a two-hundred day simple moving average of $167.82. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.77 and a quick ratio of 1.16. The firm has a market cap of $20.54 billion, a P/E ratio of 17.43, a PEG ratio of 0.98 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.

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

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

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.