Rakuten Securities Inc. Increases Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Rakuten Securities Inc. grew its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 611.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 576 shares of the company’s stock after purchasing an additional 495 shares during the quarter. Rakuten Securities Inc.’s holdings in Builders FirstSource were worth $112,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. acquired a new position in shares of Builders FirstSource in the 3rd quarter valued at $267,132,000. Apollon Wealth Management LLC purchased a new position in Builders FirstSource during the 3rd quarter worth $258,000. Opinicus Capital Inc. increased its stake in Builders FirstSource by 14.5% in the third quarter. Opinicus Capital Inc. now owns 2,794 shares of the company’s stock valued at $542,000 after purchasing an additional 353 shares during the period. Nations Financial Group Inc. IA ADV purchased a new stake in shares of Builders FirstSource in the third quarter valued at about $441,000. Finally, Jag Capital Management LLC purchased a new stake in shares of Builders FirstSource in the third quarter valued at about $11,815,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Builders FirstSource Trading Up 2.9 %

BLDR opened at $183.59 on Tuesday. Builders FirstSource, Inc. has a 12-month low of $121.43 and a 12-month high of $214.70. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.77 and a quick ratio of 1.14. The stock has a market capitalization of $21.13 billion, a PE ratio of 17.93, a P/E/G ratio of 0.99 and a beta of 2.08. The firm’s fifty day moving average price is $184.98 and its 200 day moving average price is $168.25.

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 the consensus estimate of $3.09 by ($0.02). Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same period in the previous year, the firm posted $4.24 EPS. Builders FirstSource’s revenue for the quarter was down 6.7% on a year-over-year basis. As a group, 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 stock buyback plan on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 5.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

BLDR has been the topic of several recent research reports. Bank of America boosted their price target on Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Truist Financial raised Builders FirstSource from a “hold” rating to a “buy” rating and boosted their target price for the company from $165.00 to $220.00 in a report on Monday, September 16th. Benchmark decreased their price target on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Stephens boosted their price objective on shares of Builders FirstSource from $178.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Barclays raised their target price on shares of Builders FirstSource from $182.00 to $211.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Five equities 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $206.47.

Insider Buying and Selling at Builders FirstSource

In related news, Director Cleveland A. Christophe sold 10,000 shares of the firm’s stock in a transaction on 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 in the company, valued at $5,902,338.03. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by insiders.

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.