Amplius Wealth Advisors LLC Buys Shares of 1,190 Builders FirstSource, Inc. (NYSE:BLDR)

Amplius Wealth Advisors LLC bought a new position in Builders FirstSource, Inc. (NYSE:BLDR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,190 shares of the company’s stock, valued at approximately $231,000.

Several other hedge funds also recently modified their holdings of the business. Swedbank AB increased its position in Builders FirstSource by 20.6% during the third quarter. Swedbank AB now owns 45,465 shares of the company’s stock worth $8,814,000 after buying an additional 7,774 shares during the last quarter. Creative Planning boosted its stake in shares of Builders FirstSource by 35.6% during the 3rd quarter. Creative Planning now owns 12,963 shares of the company’s stock worth $2,513,000 after acquiring an additional 3,406 shares in the last quarter. Armstrong Advisory Group Inc. acquired a new position in shares of Builders FirstSource during the 3rd quarter valued at about $30,000. Exchange Traded Concepts LLC raised its stake in shares of Builders FirstSource by 33.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 10,580 shares of the company’s stock valued at $2,051,000 after acquiring an additional 2,633 shares in the last quarter. Finally, Gateway Investment Advisers LLC lifted its holdings in Builders FirstSource by 6.1% in the 3rd quarter. Gateway Investment Advisers LLC now owns 3,109 shares of the company’s stock worth $603,000 after purchasing an additional 180 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Builders FirstSource Price Performance

Shares of BLDR stock opened at $198.46 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.14. The stock’s fifty day simple moving average is $179.24 and its 200 day simple moving average is $169.52. Builders FirstSource, Inc. has a one year low of $105.24 and a one year high of $214.70. The firm has a market cap of $24.22 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 11.48 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last issued its earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.02 by $0.48. The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.89 EPS. On average, analysts expect that Builders FirstSource, Inc. will post 11.68 earnings per share for the current fiscal year.

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

Insider Transactions at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of the business’s stock in a transaction that occurred 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 directly owns 95,333 shares of the company’s stock, valued at $14,650,775.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BLDR. Stifel Nicolaus reduced their price objective on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada cut their target price on shares of Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Wedbush restated an “outperform” rating and set a $175.00 target price on shares of Builders FirstSource in a research note on Tuesday, August 6th. Bank of America upped their price target on Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Finally, Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and raised their price objective for the stock from $165.00 to $220.00 in a research note on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $198.38.

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.