Victory Capital Management Inc. Buys 178,449 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Victory Capital Management Inc. boosted its position in Builders FirstSource, Inc. (NYSE:BLDR) by 46.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 564,895 shares of the company’s stock after purchasing an additional 178,449 shares during the quarter. Victory Capital Management Inc. owned approximately 0.49% of Builders FirstSource worth $109,511,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Aptus Capital Advisors LLC purchased a new position in Builders FirstSource during the 3rd quarter worth $273,000. Ashton Thomas Private Wealth LLC boosted its holdings in Builders FirstSource by 16.0% in the third quarter. Ashton Thomas Private Wealth LLC now owns 1,333 shares of the company’s stock worth $258,000 after acquiring an additional 184 shares in the last quarter. Rakuten Securities Inc. grew its stake in shares of Builders FirstSource by 611.1% during the third quarter. Rakuten Securities Inc. now owns 576 shares of the company’s stock worth $112,000 after acquiring an additional 495 shares during the last quarter. Baillie Gifford & Co. purchased a new stake in shares of Builders FirstSource during the third quarter worth about $267,132,000. Finally, Apollon Wealth Management LLC acquired a new position in shares of Builders FirstSource during the third quarter valued at about $258,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Cleveland A. Christophe sold 10,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $178.41, for a total value of $1,784,100.00. Following the completion of the sale, the director now owns 33,083 shares of the company’s stock, valued at approximately $5,902,338.03. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Builders FirstSource Stock Performance

Shares of NYSE BLDR opened at $178.84 on Wednesday. The company has a market capitalization of $20.58 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 0.99 and a beta of 2.08. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.14 and a current ratio of 1.77. The company’s fifty day moving average price is $185.19 and its 200 day moving average price is $168.18. Builders FirstSource, Inc. has a 1 year low of $121.43 and a 1 year high of $214.70.

Builders FirstSource (NYSE:BLDR) last posted its earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.02). Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same period in the previous year, the company earned $4.24 earnings per share. The company’s revenue was down 6.7% compared to the same quarter last year. On average, research analysts predict that Builders FirstSource, Inc. will post 11.56 earnings per share for the current year.

Builders FirstSource declared that its Board of Directors has authorized 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 reacquire up to 5.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BLDR. Truist Financial raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and boosted their target price for the stock from $165.00 to $220.00 in a research report on Monday, September 16th. Stifel Nicolaus cut their target price 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. The Goldman Sachs Group assumed 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. Jefferies Financial Group increased their price objective on Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Bank of America raised their price objective on Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Builders FirstSource presently has an average rating of “Moderate Buy” and a consensus price target of $206.47.

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.