Whittier Trust Co. of Nevada Inc. Increases Position in Builders FirstSource, Inc. (NYSE:BLDR)

by · The Markets Daily

Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR – Free Report) by 4.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,894 shares of the company’s stock after purchasing an additional 2,993 shares during the quarter. Whittier Trust Co. of Nevada Inc. owned approximately 0.06% of Builders FirstSource worth $14,325,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. New Mexico Educational Retirement Board raised its holdings in Builders FirstSource by 512.3% in the 1st quarter. New Mexico Educational Retirement Board now owns 39,800 shares of the company’s stock valued at $8,300,000 after acquiring an additional 33,300 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Builders FirstSource by 273.0% in the 1st quarter. SG Americas Securities LLC now owns 62,622 shares of the company’s stock valued at $13,060,000 after purchasing an additional 45,832 shares during the last quarter. Cetera Investment Advisers raised its position in Builders FirstSource by 762.2% during the 1st quarter. Cetera Investment Advisers now owns 50,982 shares of the company’s stock worth $10,632,000 after buying an additional 45,069 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Builders FirstSource by 21.1% during the first quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock worth $4,173,000 after acquiring an additional 3,483 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Builders FirstSource by 18.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 115,995 shares of the company’s stock valued at $16,055,000 after acquiring an additional 18,223 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Builders FirstSource Price Performance

NYSE BLDR traded down $10.19 during trading hours on Monday, hitting $184.78. The company had a trading volume of 935,786 shares, compared to its average volume of 1,580,407. The firm has a 50 day simple moving average of $181.78 and a 200 day simple moving average of $169.39. The firm has a market capitalization of $22.55 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 11.48 and a beta of 2.06. Builders FirstSource, Inc. has a 52 week low of $105.24 and a 52 week high of $214.70. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83.

Builders FirstSource (NYSE:BLDR – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.48. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The firm had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. During the same quarter last year, the firm posted $3.89 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. Equities research analysts expect that Builders FirstSource, Inc. will post 11.68 earnings per share for the current year.

Builders FirstSource declared that its Board of Directors has authorized a share buyback plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 5.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the completion of the sale, the director now directly owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wedbush reiterated an “outperform” rating and issued a $175.00 target price on shares of Builders FirstSource in a report on Tuesday, August 6th. Robert W. Baird boosted their price target on Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Jefferies Financial Group lifted their price objective on shares of Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Loop Capital boosted their price objective on Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Finally, Stifel Nicolaus decreased their target price on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Builders FirstSource currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.38.

Get Our Latest Analysis on Builders FirstSource

About Builders FirstSource

(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.

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