SteelPeak Wealth LLC Invests $1.51 Million in Builders FirstSource, Inc. (NYSE:BLDR)

SteelPeak Wealth LLC bought a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,939 shares of the company’s stock, valued at approximately $1,514,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. EdgeRock Capital LLC purchased a new stake in Builders FirstSource during the fourth quarter worth approximately $25,000. Rakuten Securities Inc. acquired a new position in shares of Builders FirstSource during the 4th quarter valued at $29,000. Westside Investment Management Inc. purchased a new stake in Builders FirstSource during the 1st quarter worth $31,000. Principal Securities Inc. purchased a new stake in Builders FirstSource during the 4th quarter worth $32,000. Finally, ORG Partners LLC purchased a new position in Builders FirstSource in the first quarter valued at about $33,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BLDR shares. StockNews.com downgraded Builders FirstSource from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $185.00 price objective (down previously from $205.00) on shares of Builders FirstSource in a research report on Friday, August 9th. Bank of America cut shares of Builders FirstSource from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $183.00 to $180.00 in a research report on Friday, August 2nd. Oppenheimer reaffirmed an “outperform” rating and set a $190.00 price target (down from $230.00) on shares of Builders FirstSource in a report on Thursday, August 8th. Finally, Baird R W upgraded shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $180.47.

Insiders Place Their Bets

In other news, insider Paul M. Mccrobie sold 9,118 shares of Builders FirstSource stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $170.11, for a total value of $1,551,062.98. Following the completion of the transaction, the insider now directly owns 22,667 shares of the company’s stock, valued at approximately $3,855,883.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Craig Arthur Steinke sold 30,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the completion of the transaction, the director now directly owns 95,333 shares in the company, valued at approximately $14,650,775.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Paul M. Mccrobie sold 9,118 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $170.11, for a total value of $1,551,062.98. Following the completion of the sale, the insider now owns 22,667 shares in the company, valued at $3,855,883.37. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,993 shares of company stock valued at $6,937,807. Company insiders own 1.80% of the company’s stock.

Builders FirstSource Stock Up 2.6 %

Builders FirstSource stock traded up $4.12 during midday trading on Thursday, hitting $164.72. The stock had a trading volume of 1,213,278 shares, compared to its average volume of 1,643,657. The business has a fifty day moving average price of $149.89 and a 200 day moving average price of $172.88. Builders FirstSource, Inc. has a 12 month low of $105.24 and a 12 month high of $214.70. The stock has a market cap of $20.11 billion, a P/E ratio of 14.05, a P/E/G ratio of 2.57 and a beta of 2.04. The company has a current ratio of 2.21, a quick ratio of 1.45 and a debt-to-equity ratio of 0.75.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.48. Builders FirstSource had a return on equity of 38.66% and a net margin of 8.57%. The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.48 billion. During the same period in the previous year, the business earned $3.89 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Research analysts predict that Builders FirstSource, Inc. will post 12.91 EPS for the current year.

Builders FirstSource announced that its board has authorized a share buyback program on Tuesday, August 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are generally 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.