Highland Capital Management LLC Buys New Stake in Builders FirstSource, Inc. (NYSE:BLDR)

Highland Capital Management LLC acquired a new stake in Builders FirstSource, Inc. (NYSE:BLDR) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 1,272 shares of the company’s stock, valued at approximately $212,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Schechter Investment Advisors LLC acquired a new stake in shares of Builders FirstSource in the fourth quarter valued at about $216,000. Tectonic Advisors LLC lifted its position in shares of Builders FirstSource by 103.3% during the fourth quarter. Tectonic Advisors LLC now owns 5,559 shares of the company’s stock worth $928,000 after purchasing an additional 2,824 shares in the last quarter. Heartwood Wealth Advisors LLC acquired a new position in shares of Builders FirstSource during the fourth quarter worth $212,000. Assenagon Asset Management S.A. boosted its stake in shares of Builders FirstSource by 138.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 259,782 shares of the company’s stock valued at $43,368,000 after purchasing an additional 150,973 shares during the period. Finally, Raymond James & Associates grew its holdings in Builders FirstSource by 0.7% during the 4th quarter. Raymond James & Associates now owns 128,969 shares of the company’s stock valued at $21,530,000 after purchasing an additional 908 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on BLDR shares. Stifel Nicolaus upped their price objective on shares of Builders FirstSource from $184.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. B. Riley upgraded Builders FirstSource from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $128.00 to $177.00 in a report on Wednesday, December 6th. StockNews.com raised shares of Builders FirstSource from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. Truist Financial upped their price target on shares of Builders FirstSource from $185.00 to $190.00 and gave the company a “hold” rating in a report on Friday, February 23rd. Finally, Barclays boosted their target price on shares of Builders FirstSource from $195.00 to $235.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $181.27.

Insiders Place Their Bets

In related news, Director Cory Jacobs Boydston sold 7,759 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $200.00, for a total value of $1,551,800.00. Following the completion of the transaction, the director now directly owns 28,738 shares of the company’s stock, valued at approximately $5,747,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.90% of the stock is owned by insiders.

Builders FirstSource Trading Up 1.4 %

NYSE:BLDR opened at $209.87 on Thursday. The firm has a market capitalization of $25.59 billion, a P/E ratio of 17.50, a P/E/G ratio of 1.26 and a beta of 2.04. The business has a 50 day simple moving average of $188.96 and a 200 day simple moving average of $155.11. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.77 and a quick ratio of 1.11. Builders FirstSource, Inc. has a 12-month low of $84.78 and a 12-month high of $214.70.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $3.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.85. Builders FirstSource had a net margin of 9.01% and a return on equity of 41.10%. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.01 billion. Equities research analysts predict that Builders FirstSource, Inc. will post 14.02 EPS for the current year.

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.