Highland Capital Management LLC Buys 164 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Highland Capital Management LLC lifted its position in Builders FirstSource, Inc. (NYSE:BLDR) by 12.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,462 shares of the company’s stock after acquiring an additional 164 shares during the quarter. Highland Capital Management LLC’s holdings in Builders FirstSource were worth $202,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its holdings in Builders FirstSource by 42.1% during the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after purchasing an additional 75 shares during the last quarter. Team Hewins LLC grew its holdings in shares of Builders FirstSource by 6.5% in the first quarter. Team Hewins LLC now owns 1,313 shares of the company’s stock valued at $274,000 after acquiring an additional 80 shares in the last quarter. Csenge Advisory Group increased its position in shares of Builders FirstSource by 1.9% during the second quarter. Csenge Advisory Group now owns 4,252 shares of the company’s stock valued at $589,000 after acquiring an additional 81 shares during the last quarter. Congress Wealth Management LLC DE lifted its holdings in Builders FirstSource by 1.4% during the fourth quarter. Congress Wealth Management LLC DE now owns 6,197 shares of the company’s stock worth $1,035,000 after acquiring an additional 85 shares during the period. Finally, Quarry LP boosted its position in Builders FirstSource by 49.7% in the fourth quarter. Quarry LP now owns 280 shares of the company’s stock worth $47,000 after purchasing an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on BLDR. Oppenheimer reaffirmed an “outperform” rating and set a $190.00 target price (down from $230.00) on shares of Builders FirstSource in a research report on Thursday, August 8th. Benchmark lowered their price objective on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Stifel Nicolaus dropped their target price on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Jefferies Financial Group restated a “buy” rating and set a $185.00 price target (down previously from $205.00) on shares of Builders FirstSource in a research note on Friday, August 9th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Builders FirstSource in a report on Tuesday, August 6th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $180.47.

Builders FirstSource Price Performance

NYSE:BLDR traded up $14.66 during trading hours on Friday, hitting $182.21. 2,660,458 shares of the company’s stock traded hands, compared to its average volume of 1,635,239. The firm has a market cap of $22.24 billion, a P/E ratio of 15.60, a P/E/G ratio of 2.57 and a beta of 2.04. The company has a quick ratio of 1.45, a current ratio of 2.21 and a debt-to-equity ratio of 0.75. The business’s fifty day simple moving average is $152.63 and its two-hundred day simple moving average is $172.39. Builders FirstSource, Inc. has a 52 week low of $105.24 and a 52 week high of $214.70.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.48. The business had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.48 billion. Builders FirstSource had a return on equity of 38.66% and a net margin of 8.57%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the business posted $3.89 earnings per share. On average, research analysts anticipate that Builders FirstSource, Inc. will post 12.91 earnings per share for the current fiscal year.

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

Insider Transactions at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $153.68, for a total value of $4,610,400.00. Following the sale, the director now directly owns 95,333 shares in the company, valued at approximately $14,650,775.44. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Michael Hiller sold 4,875 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $159.25, for a total value of $776,343.75. Following the completion of the transaction, the insider now directly owns 30,106 shares of the company’s stock, valued at $4,794,380.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was 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 owns 95,333 shares of the company’s stock, valued at $14,650,775.44. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

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.