Oakworth Capital Inc. Buys New Position in Builders FirstSource, Inc. (NYSE:BLDR)

Oakworth Capital Inc. bought a new stake in Builders FirstSource, Inc. (NYSE:BLDR) during the third quarter, HoldingsChannel.com reports. The fund bought 211,259 shares of the company’s stock, valued at approximately $40,955,000. Builders FirstSource makes up about 2.8% of Oakworth Capital Inc.’s investment portfolio, making the stock its 10th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of BLDR. Innealta Capital LLC acquired a new stake in Builders FirstSource in the 2nd quarter valued at approximately $27,000. Armstrong Advisory Group Inc. acquired a new position in shares of Builders FirstSource during the 3rd quarter worth approximately $30,000. Westside Investment Management Inc. acquired a new position in shares of Builders FirstSource during the 1st quarter worth approximately $31,000. ORG Partners LLC acquired a new position in shares of Builders FirstSource during the 1st quarter worth approximately $33,000. Finally, First Horizon Advisors Inc. increased its position in shares of Builders FirstSource by 42.1% during the 2nd 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. Institutional investors and hedge funds own 95.53% of the company’s stock.

Insider Activity

In related news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 95,333 shares in the company, valued at approximately $14,650,775.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Oppenheimer boosted their price target on Builders FirstSource from $205.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Stifel Nicolaus lowered their price target on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. 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 report on Wednesday, October 16th. Loop Capital boosted their price target on Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Finally, StockNews.com raised Builders FirstSource from a “hold” rating to a “buy” rating in a research report on Monday, September 23rd. 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. Based on data from MarketBeat.com, Builders FirstSource has a consensus rating of “Moderate Buy” and an average target price of $198.38.

Builders FirstSource Stock Performance

BLDR opened at $182.85 on Tuesday. The business has a fifty day simple moving average of $182.41 and a 200 day simple moving average of $169.28. The company has a market capitalization of $22.32 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 11.48 and a beta of 2.06. Builders FirstSource, Inc. has a 1 year low of $105.24 and a 1 year high of $214.70. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.14.

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

Builders FirstSource declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Builders FirstSource 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.