Holocene Advisors LP Acquires Shares of 195,355 Builders FirstSource, Inc. (NYSE:BLDR)

Holocene Advisors LP bought a new position in Builders FirstSource, Inc. (NYSE:BLDR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 195,355 shares of the company’s stock, valued at approximately $37,872,000. Holocene Advisors LP owned about 0.17% of Builders FirstSource at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. FMR LLC lifted its position in Builders FirstSource by 45.7% in the 3rd quarter. FMR LLC now owns 10,158,152 shares of the company’s stock valued at $1,969,259,000 after acquiring an additional 3,186,876 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Builders FirstSource by 23.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,458,255 shares of the company’s stock worth $282,697,000 after purchasing an additional 277,897 shares during the last quarter. Baillie Gifford & Co. bought a new position in shares of 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 third quarter valued at $255,867,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Builders FirstSource by 22.7% during the second quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock valued at $147,059,000 after buying an additional 196,571 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Insider Transactions at Builders FirstSource

In related news, Director Cleveland A. Christophe sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $178.41, for a total value of $1,784,100.00. Following the sale, the director now directly owns 33,083 shares in the company, 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 is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Builders FirstSource Price Performance

Shares of NYSE:BLDR opened at $184.65 on Tuesday. The company has a market capitalization of $21.25 billion, a P/E ratio of 18.03, a P/E/G 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 50 day simple moving average is $185.11 and its two-hundred day simple moving average is $168.62. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.77 and a quick ratio of 1.16.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share 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 firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same quarter last year, the firm posted $4.24 EPS. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. Research analysts expect that Builders FirstSource, Inc. will post 11.56 EPS for the current fiscal year.

Builders FirstSource declared that its board has approved a share repurchase plan on Tuesday, August 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 5.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

BLDR has been the topic of several research analyst reports. B. Riley lowered their target price 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. UBS Group started coverage on shares of Builders FirstSource in a report on Friday, October 25th. They set a “buy” rating and a $232.00 price objective for the company. Royal Bank of Canada raised 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. The Goldman Sachs Group began coverage on shares of Builders FirstSource in a research note on Thursday, October 10th. They set a “buy” rating and a $225.00 target price for the company. Finally, Benchmark lowered their price target on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $206.47.

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.