Tower Wealth Partners Inc. Buys New Position in Builders FirstSource, Inc. (NYSE:BLDR)

Tower Wealth Partners Inc. acquired a new stake in Builders FirstSource, Inc. (NYSE:BLDR) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,266 shares of the company’s stock, valued at approximately $264,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Builders FirstSource by 15.7% during the fourth quarter. Vanguard Group Inc. now owns 14,668,049 shares of the company’s stock valued at $2,448,684,000 after buying an additional 1,985,297 shares in the last quarter. Norges Bank bought a new position in Builders FirstSource during the fourth quarter worth $212,209,000. Boston Partners raised its holdings in shares of Builders FirstSource by 73.5% during the fourth quarter. Boston Partners now owns 1,366,784 shares of the company’s stock worth $227,464,000 after purchasing an additional 578,961 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Builders FirstSource by 152.9% in the 4th quarter. Hsbc Holdings PLC now owns 489,047 shares of the company’s stock valued at $81,628,000 after buying an additional 295,643 shares during the period. Finally, Frontier Capital Management Co. LLC boosted its holdings in shares of Builders FirstSource by 34.8% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,133,751 shares of the company’s stock valued at $189,268,000 after buying an additional 292,966 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BLDR shares. Barclays cut their target price on shares of Builders FirstSource from $240.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. Robert W. Baird cut their price target on Builders FirstSource from $207.00 to $197.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Zelman & Associates restated a “hold” rating on shares of Builders FirstSource in a research note on Monday, June 17th. Truist Financial cut their target price on Builders FirstSource from $190.00 to $180.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. Finally, DA Davidson restated a “neutral” rating and set a $185.00 price target on shares of Builders FirstSource in a research report on Thursday, March 28th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $192.47.

Builders FirstSource Price Performance

NYSE BLDR opened at $134.74 on Wednesday. Builders FirstSource, Inc. has a 12 month low of $105.24 and a 12 month high of $214.70. The firm has a market capitalization of $16.45 billion, a PE ratio of 11.54, a P/E/G ratio of 2.23 and a beta of 2.04. The company’s 50 day simple moving average is $160.69 and its 200 day simple moving average is $175.68. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.21 and a quick ratio of 1.45.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.23. Builders FirstSource had a return on equity of 38.66% and a net margin of 8.57%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the previous year, the business earned $2.96 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, equities research analysts forecast that Builders FirstSource, Inc. will post 12.93 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Michael Hiller sold 4,875 shares of Builders FirstSource stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $159.25, for a total value of $776,343.75. Following the transaction, the insider now directly owns 30,106 shares in the company, valued at approximately $4,794,380.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Paul M. Mccrobie sold 9,118 shares of the stock in a transaction that occurred 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 directly owns 22,667 shares of the company’s stock, valued at $3,855,883.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Hiller sold 4,875 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $159.25, for a total value of $776,343.75. Following the sale, the insider now directly owns 30,106 shares of the company’s stock, valued at $4,794,380.50. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

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.