Financial Enhancement Group LLC Purchases 155 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Financial Enhancement Group LLC boosted its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 3.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,199 shares of the company’s stock after purchasing an additional 155 shares during the period. Financial Enhancement Group LLC’s holdings in Builders FirstSource were worth $581,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First Horizon Advisors Inc. boosted its stake 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 valued at $35,000 after purchasing an additional 75 shares in the last quarter. Team Hewins LLC grew its stake in shares of Builders FirstSource by 6.5% in the 1st quarter. Team Hewins LLC now owns 1,313 shares of the company’s stock worth $274,000 after buying an additional 80 shares during the last quarter. Csenge Advisory Group raised its stake in 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 buying an additional 81 shares during the last quarter. Congress Wealth Management LLC DE boosted its holdings in Builders FirstSource by 1.4% in 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 in the last quarter. Finally, Quarry LP increased its holdings in shares of Builders FirstSource by 49.7% during the fourth quarter. Quarry LP now owns 280 shares of the company’s stock valued at $47,000 after acquiring an additional 93 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Insider Buying and Selling at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 95,333 shares of the company’s stock, valued at $14,650,775.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Builders FirstSource Stock Performance

Shares of BLDR stock traded up $0.17 during trading hours on Wednesday, reaching $168.82. 89,190 shares of the company traded hands, compared to its average volume of 1,612,268. The firm has a 50-day moving average price of $156.59 and a 200 day moving average price of $171.73. The company has a market cap of $20.61 billion, a P/E ratio of 14.43, a P/E/G ratio of 10.07 and a beta of 2.04. Builders FirstSource, Inc. has a 12-month low of $105.24 and a 12-month 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 posted its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. The business had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The company’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.89 earnings per share. As a group, sell-side analysts predict that Builders FirstSource, Inc. will post 11.91 earnings per share for the current fiscal year.

Builders FirstSource announced that its board has initiated a share buyback program on Tuesday, August 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

BLDR has been the subject of a number of analyst reports. StockNews.com lowered shares of Builders FirstSource from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. Wedbush reiterated an “outperform” rating and set a $175.00 target price on shares of Builders FirstSource in a research note on Tuesday, August 6th. Royal Bank of Canada decreased their price target on Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Oppenheimer lifted their price objective on Builders FirstSource from $190.00 to $205.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Robert W. Baird upgraded shares of Builders FirstSource from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $185.00 to $190.00 in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $181.57.

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.