Fisher Asset Management LLC Acquires 3,307 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Fisher Asset Management LLC increased its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 2.0% during the third quarter, HoldingsChannel.com reports. The fund owned 170,956 shares of the company’s stock after buying an additional 3,307 shares during the quarter. Fisher Asset Management LLC’s holdings in Builders FirstSource were worth $33,142,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Innealta Capital LLC bought a new stake in shares of Builders FirstSource during the 2nd quarter worth $27,000. Armstrong Advisory Group Inc. purchased a new stake in Builders FirstSource during the third quarter worth about $30,000. First Horizon Advisors Inc. raised its position in Builders FirstSource by 42.1% in the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after acquiring an additional 75 shares during the period. New Millennium Group LLC purchased a new position in Builders FirstSource in the second quarter valued at about $38,000. Finally, Reston Wealth Management LLC bought a new position in shares of Builders FirstSource during the 3rd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Insiders Place Their Bets

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were 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 23.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on BLDR. StockNews.com downgraded Builders FirstSource from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. DA Davidson upped their price target on Builders FirstSource from $169.00 to $175.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Oppenheimer reissued an “outperform” rating and issued a $225.00 price objective on shares of Builders FirstSource in a report on Tuesday, October 29th. Wedbush reaffirmed an “outperform” rating and set a $230.00 price objective on shares of Builders FirstSource in a report on Wednesday, November 6th. Finally, Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and lifted their target price for the stock from $165.00 to $220.00 in a research note on Monday, September 16th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $206.47.

Builders FirstSource Stock Down 1.7 %

BLDR stock opened at $185.77 on Wednesday. The company’s 50 day moving average is $186.26 and its 200 day moving average is $168.02. The stock has a market cap of $21.38 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth 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 1-year low of $130.75 and a 1-year high of $214.70.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings data 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 net margin of 7.40% and a return on equity of 33.55%. The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same quarter last year, the business posted $4.24 EPS. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. Sell-side analysts predict that Builders FirstSource, Inc. will post 11.56 EPS for the current fiscal year.

Builders FirstSource announced that its board has initiated a stock repurchase plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 5.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Builders FirstSource Company 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.