IFM Investors Pty Ltd Boosts Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

IFM Investors Pty Ltd grew its position in Builders FirstSource, Inc. (NYSE:BLDR) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,565 shares of the company’s stock after purchasing an additional 248 shares during the quarter. IFM Investors Pty Ltd’s holdings in Builders FirstSource were worth $4,956,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in BLDR. Argent Capital Management LLC increased its holdings in shares of Builders FirstSource by 2.6% during the third quarter. Argent Capital Management LLC now owns 33,632 shares of the company’s stock valued at $6,520,000 after acquiring an additional 859 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Builders FirstSource in the 3rd quarter worth approximately $55,620,000. Greenleaf Trust increased its stake in Builders FirstSource by 6.3% during the 3rd quarter. Greenleaf Trust now owns 1,639 shares of the company’s stock valued at $318,000 after purchasing an additional 97 shares in the last quarter. Signaturefd LLC increased its stake in Builders FirstSource by 34.4% during the 3rd quarter. Signaturefd LLC now owns 1,580 shares of the company’s stock valued at $306,000 after purchasing an additional 404 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Builders FirstSource in the third quarter worth $539,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BLDR shares. Robert W. Baird upped their target price on Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group began coverage on Builders FirstSource in a report on Thursday, October 10th. They issued a “buy” rating and a $225.00 price objective on the stock. Stifel Nicolaus decreased their target price on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Barclays increased their price target on shares of Builders FirstSource from $182.00 to $211.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and lifted their price objective for the company from $165.00 to $220.00 in a research note on Monday, September 16th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $200.35.

Builders FirstSource Stock Performance

NYSE BLDR opened at $180.80 on Friday. The stock has a market capitalization of $22.07 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 11.48 and a beta of 2.06. The stock has a 50-day moving average of $183.91 and a 200 day moving average of $168.92. 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 twelve month low of $105.24 and a twelve month high of $214.70.

Builders FirstSource (NYSE:BLDR) last announced its earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share 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 during the quarter, compared to the consensus estimate of $4.48 billion. During the same period in the prior year, the company posted $3.89 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Sell-side analysts anticipate that Builders FirstSource, Inc. will post 11.68 EPS for the current fiscal year.

Builders FirstSource announced that its board has initiated a share buyback program on Tuesday, August 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.80% of the company’s stock.

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.