Fisher Asset Management LLC Purchases 3,307 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Fisher Asset Management LLC increased its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 2.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 170,956 shares of the company’s stock after acquiring an additional 3,307 shares during the period. Fisher Asset Management LLC owned about 0.15% of Builders FirstSource worth $33,142,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BLDR. Innealta Capital LLC bought a new stake in shares of Builders FirstSource during the second quarter worth about $27,000. Armstrong Advisory Group Inc. acquired a new stake in Builders FirstSource during the 3rd quarter worth approximately $30,000. First Horizon Advisors Inc. grew its holdings in Builders FirstSource by 42.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after acquiring an additional 75 shares during the last quarter. New Millennium Group LLC acquired a new position in Builders FirstSource in the 2nd quarter valued at approximately $38,000. Finally, Reston Wealth Management LLC bought a new position in shares of Builders FirstSource during the third quarter valued at $39,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BLDR. Wedbush reissued an “outperform” rating and issued a $230.00 price objective on shares of Builders FirstSource in a research note on Wednesday, November 6th. Robert W. Baird increased their price target on Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Jefferies Financial Group raised their price objective on Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Stephens upped their target price on Builders FirstSource from $178.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Bank of America raised their price target on shares of Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $206.47.

Builders FirstSource Stock Down 1.7 %

Shares of NYSE:BLDR opened at $185.77 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.77. Builders FirstSource, Inc. has a 52-week low of $130.75 and a 52-week high of $214.70. The business’s 50 day simple moving average is $186.26 and its two-hundred day simple moving average is $168.02. The firm has a market cap of $21.38 billion, a P/E ratio of 18.14, a PEG ratio of 1.00 and a beta of 2.08.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings results 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 net margin of 7.40% and a return on equity of 33.55%. 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 previous year, the business posted $4.24 EPS. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, research analysts forecast that Builders FirstSource, Inc. will post 11.56 EPS 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 buy up to 5.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Builders FirstSource

In related news, Director Cleveland A. Christophe sold 10,000 shares of the company’s stock in a transaction on 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 completion of the sale, the director now owns 33,083 shares in the company, valued at approximately $5,902,338.03. This represents a 23.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by insiders.

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.