Rakuten Securities Inc. Raises Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

by · The Cerbat Gem

Rakuten Securities Inc. grew its stake in Builders FirstSource, Inc. (NYSE:BLDR – Free Report) by 611.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 576 shares of the company’s stock after acquiring an additional 495 shares during the quarter. Rakuten Securities Inc.’s holdings in Builders FirstSource were worth $112,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in BLDR. Cyndeo Wealth Partners LLC increased its position in shares of Builders FirstSource by 3.7% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 1,571 shares of the company’s stock valued at $305,000 after acquiring an additional 56 shares during the period. World Equity Group Inc. increased its holdings in shares of Builders FirstSource by 4.1% in the third quarter. World Equity Group Inc. now owns 1,632 shares of the company’s stock valued at $316,000 after purchasing an additional 64 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Builders FirstSource by 0.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,240 shares of the company’s stock worth $1,417,000 after purchasing an additional 74 shares during the period. First Horizon Advisors Inc. boosted 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 valued at $35,000 after buying an additional 75 shares during the last quarter. Finally, Csenge Advisory Group increased its holdings in Builders FirstSource by 1.9% in the 2nd quarter. Csenge Advisory Group now owns 4,252 shares of the company’s stock worth $589,000 after buying an additional 81 shares during the period. 95.53% of the stock is owned by institutional investors.

Builders FirstSource Stock Up 2.9 %

Shares of NYSE:BLDR opened at $183.59 on Tuesday. The company has a market capitalization of $21.13 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 0.99 and a beta of 2.08. Builders FirstSource, Inc. has a 12-month low of $121.43 and a 12-month high of $214.70. The business has a 50-day moving average price of $184.98 and a 200 day moving average price of $168.25. The company has a current ratio of 1.77, a quick ratio of 1.14 and a debt-to-equity ratio of 0.83.

Builders FirstSource (NYSE:BLDR – Get Free Report) last announced its quarterly 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 company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same quarter in the prior year, the business earned $4.24 earnings per share. Builders FirstSource’s revenue was down 6.7% on a year-over-year basis. Sell-side analysts expect that Builders FirstSource, Inc. will post 11.56 EPS for the current year.

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

Insider Buying and Selling at Builders FirstSource

In other news, Director Cleveland A. Christophe sold 10,000 shares of Builders FirstSource stock in a transaction on 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 completion of the sale, the director now directly owns 33,083 shares of the company’s stock, valued at approximately $5,902,338.03. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BLDR. Barclays increased their price objective 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. Loop Capital lifted their price objective on Builders FirstSource from $190.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, September 20th. DA Davidson upped their target price on Builders FirstSource from $169.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. StockNews.com lowered Builders FirstSource from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Robert W. Baird upped their price objective on Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Five 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.47.

Read Our Latest Research Report on BLDR

Builders FirstSource Company Profile

(Free Report)

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.

Further Reading

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