Highland Capital Management LLC Boosts Stock Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Highland Capital Management LLC lifted its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 1,975.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 30,350 shares of the company’s stock after acquiring an additional 28,888 shares during the quarter. Highland Capital Management LLC’s holdings in Builders FirstSource were worth $5,884,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Innealta Capital LLC purchased a new position in Builders FirstSource during the 2nd quarter valued at about $27,000. Armstrong Advisory Group Inc. bought a new position in shares of Builders FirstSource in the third quarter valued at approximately $30,000. Westside Investment Management Inc. purchased a new position in Builders FirstSource during the first quarter valued at approximately $31,000. ORG Partners LLC bought a new stake in Builders FirstSource during the 1st quarter worth approximately $33,000. Finally, First Horizon Advisors Inc. lifted its stake in Builders FirstSource by 42.1% in 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 in the last quarter. 95.53% of the stock is owned by institutional investors.

Builders FirstSource Stock Down 0.4 %

Shares of NYSE:BLDR opened at $180.85 on Friday. The stock has a market capitalization of $22.07 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 11.48 and a beta of 2.06. The stock’s 50-day moving average price is $183.91 and its 200-day moving average price is $169.13. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88. Builders FirstSource, Inc. has a 12-month low of $105.24 and a 12-month high of $214.70.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.48 billion. During the same period last year, the company earned $3.89 EPS. Builders FirstSource’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities analysts anticipate that Builders FirstSource, Inc. will post 11.68 earnings per share for the current year.

Builders FirstSource declared that its board has initiated a stock buyback plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase 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.

Analyst Ratings Changes

A number of research analysts have recently commented on BLDR shares. Wedbush restated an “outperform” rating and set a $175.00 price target on shares of Builders FirstSource in a research report on Tuesday, August 6th. Robert W. Baird upped their target price on Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group started coverage on Builders FirstSource in a research report on Thursday, October 10th. They set a “buy” rating and a $225.00 price target for the company. Baird R W raised Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Bank of America raised their target price on shares of Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $200.35.

Insider Activity at Builders FirstSource

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following the sale, the director now owns 95,333 shares of the company’s stock, valued at $14,650,775.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by company insiders.

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.