Oppenheimer Asset Management Inc. Takes $521,000 Position in Builders FirstSource, Inc. (NYSE:BLDR)

Oppenheimer Asset Management Inc. purchased a new position in Builders FirstSource, Inc. (NYSE:BLDR) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,690 shares of the company’s stock, valued at approximately $521,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Innealta Capital LLC purchased a new position in shares of Builders FirstSource during the 2nd quarter valued at approximately $27,000. Armstrong Advisory Group Inc. acquired a new position in Builders FirstSource during the 3rd quarter worth $30,000. First Horizon Advisors Inc. increased its position in shares of 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 during the last quarter. New Millennium Group LLC bought a new position in shares of Builders FirstSource during the second quarter worth about $38,000. Finally, Reston Wealth Management LLC acquired a new position in Builders FirstSource in the third quarter worth about $39,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Insider Activity

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the sale, the director now owns 33,083 shares in the company, valued at approximately $5,902,338.03. The trade was a 23.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Builders FirstSource Trading Up 0.3 %

Shares of BLDR stock opened at $178.81 on Wednesday. The stock has a 50-day simple moving average of $186.23 and a 200 day simple moving average of $167.87. The stock has a market capitalization of $20.58 billion, a P/E ratio of 17.46, a P/E/G ratio of 0.98 and a beta of 2.08. Builders FirstSource, Inc. has a fifty-two week low of $130.75 and a fifty-two week high of $214.70. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 0.83.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data 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 business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same period in the prior year, the firm earned $4.24 EPS. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. On average, sell-side analysts expect that Builders FirstSource, Inc. will post 11.56 earnings per share for the current fiscal year.

Builders FirstSource announced that its Board of Directors has approved a stock buyback plan on Tuesday, August 6th that permits the company to repurchase $1.00 billion in 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 an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

BLDR has been the topic of a number of research analyst reports. Royal Bank of Canada increased their target price on Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Barclays raised their price objective on Builders FirstSource from $182.00 to $211.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Jefferies Financial Group increased their target price on shares of Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Wedbush reaffirmed an “outperform” rating and set a $230.00 price objective on shares of Builders FirstSource in a research report on Wednesday, November 6th. Finally, UBS Group assumed coverage on shares of Builders FirstSource in a report on Friday, October 25th. They issued a “buy” rating and a $232.00 target price on the stock. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $206.47.

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.