Dakota Wealth Management Makes New Investment in Builders FirstSource, Inc. (NYSE:BLDR)

Dakota Wealth Management acquired a new stake in Builders FirstSource, Inc. (NYSE:BLDR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,045 shares of the company’s stock, valued at approximately $1,947,000.

A number of other hedge funds have also recently modified their holdings of BLDR. SG Americas Securities LLC increased its holdings in Builders FirstSource by 273.0% in the first quarter. SG Americas Securities LLC now owns 62,622 shares of the company’s stock valued at $13,060,000 after buying an additional 45,832 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Builders FirstSource by 762.2% in the 1st quarter. Cetera Investment Advisers now owns 50,982 shares of the company’s stock valued at $10,632,000 after purchasing an additional 45,069 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Builders FirstSource by 21.1% in the 1st quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock worth $4,173,000 after purchasing an additional 3,483 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in Builders FirstSource by 18.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 115,995 shares of the company’s stock worth $16,055,000 after purchasing an additional 18,223 shares in the last quarter. Finally, Capstone Investment Advisors LLC acquired a new stake in Builders FirstSource in the first quarter valued at approximately $1,609,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Insiders Place Their Bets

In other news, Director Craig Arthur Steinke sold 30,000 shares of the company’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 of the company’s stock, valued at $14,650,775.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is owned by insiders.

Builders FirstSource Trading Down 0.5 %

Shares of BLDR opened at $180.80 on Friday. Builders FirstSource, Inc. has a 12-month low of $105.24 and a 12-month high of $214.70. The firm has a market capitalization of $22.07 billion, a P/E ratio of 15.48, a P/E/G ratio of 11.48 and a beta of 2.06. The firm has a 50-day moving average price of $183.91 and a 200 day moving average price 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 (NYSE:BLDR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share 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 analysts’ expectations of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.89 EPS. Sell-side analysts forecast that Builders FirstSource, Inc. will post 11.68 EPS for the current year.

Builders FirstSource declared that its Board of Directors has approved a stock repurchase program on Tuesday, August 6th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BLDR shares. B. Riley reduced their target price on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Baird R W raised shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Benchmark cut their target price on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada decreased their price target on shares of Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group began coverage on Builders FirstSource in a research note on Thursday, October 10th. They set a “buy” rating and a $225.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Builders FirstSource currently has an average rating of “Moderate Buy” and a consensus target price of $200.35.

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.