Holocene Advisors LP Purchases New Position in Builders FirstSource, Inc. (NYSE:BLDR)

Holocene Advisors LP purchased a new position in Builders FirstSource, Inc. (NYSE:BLDR) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 195,355 shares of the company’s stock, valued at approximately $37,872,000.

Several other large investors also recently added to or reduced their stakes in the stock. Brooklyn Investment Group bought a new position in shares of Builders FirstSource in the third quarter worth about $28,000. Armstrong Advisory Group Inc. bought a new position in Builders FirstSource in the 3rd quarter worth about $30,000. Innealta Capital LLC bought a new position in Builders FirstSource in the 2nd quarter worth about $27,000. Reston Wealth Management LLC purchased a new position in shares of Builders FirstSource during the third quarter worth approximately $39,000. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of Builders FirstSource during the third quarter valued at approximately $46,000. 95.53% of the stock is owned by institutional investors.

Builders FirstSource Trading Down 1.0 %

Shares of NYSE:BLDR opened at $184.65 on Tuesday. The business’s 50-day moving average is $185.11 and its 200 day moving average is $168.62. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.77 and a quick ratio of 1.16. Builders FirstSource, Inc. has a 1 year low of $130.75 and a 1 year high of $214.70. The firm has a market capitalization of $21.25 billion, a P/E ratio of 18.03, a P/E/G ratio of 1.04 and a beta of 2.08.

Builders FirstSource (NYSE:BLDR) last posted 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). The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.44 billion. Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The business’s revenue was down 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $4.24 EPS. On average, research analysts predict 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 share repurchase program on Tuesday, August 6th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Stephens increased their price objective on Builders FirstSource from $178.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Jefferies Financial Group increased their price target on Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Oppenheimer restated an “outperform” rating and issued a $225.00 price objective on shares of Builders FirstSource in a report on Tuesday, October 29th. The Goldman Sachs Group began coverage on shares of Builders FirstSource in a report on Thursday, October 10th. They set a “buy” rating and a $225.00 target price on the stock. Finally, Bank of America raised their target price 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. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Builders FirstSource currently has a consensus rating of “Moderate Buy” and an average price target of $206.47.

Insider Activity

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of Builders FirstSource 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 completion of the transaction, the director now owns 33,083 shares in the company, valued at approximately $5,902,338.03. This trade represents a 23.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.

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.