Argent Capital Management LLC Has $6.52 Million Position in Builders FirstSource, Inc. (NYSE:BLDR)

Argent Capital Management LLC boosted its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 2.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,632 shares of the company’s stock after buying an additional 859 shares during the quarter. Argent Capital Management LLC’s holdings in Builders FirstSource were worth $6,520,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BLDR. Massachusetts Financial Services Co. MA grew its stake in shares of Builders FirstSource by 339.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock worth $163,373,000 after purchasing an additional 911,990 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of Builders FirstSource by 477,028.7% in the first quarter. Bessemer Group Inc. now owns 448,501 shares of the company’s stock valued at $93,535,000 after buying an additional 448,407 shares during the period. Clearbridge Investments LLC bought a new position in shares of Builders FirstSource during the second quarter worth about $49,000,000. Oakworth Capital Inc. acquired a new position in shares of Builders FirstSource in the third quarter worth approximately $40,955,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Builders FirstSource by 22.7% in the second quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock worth $147,059,000 after acquiring an additional 196,571 shares during the period. 95.53% of the stock is owned by institutional investors.

Builders FirstSource Stock Up 0.5 %

Shares of BLDR traded up $0.84 on Thursday, reaching $180.06. The company’s stock had a trading volume of 185,031 shares, compared to its average volume of 1,571,540. Builders FirstSource, Inc. has a twelve month low of $105.24 and a twelve month high of $214.70. The stock has a market capitalization of $21.98 billion, a PE ratio of 15.35, a PEG ratio of 11.48 and a beta of 2.06. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88. The firm has a fifty day moving average of $183.18 and a 200-day moving average of $169.18.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.02 by $0.48. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The firm had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.48 billion. During the same period in the prior year, the business posted $3.89 earnings per share. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities analysts predict that Builders FirstSource, Inc. will post 11.68 EPS for the current year.

Builders FirstSource announced that its Board of Directors has approved a share buyback program on Tuesday, August 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 5.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Builders FirstSource

In related news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $153.68, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on BLDR. Baird R W upgraded shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Jefferies Financial Group boosted their target price on shares of Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Bank of America upped their price target on shares of Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Stifel Nicolaus lowered their price objective on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Royal Bank of Canada cut their target price on Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.