Turtle Creek Asset Management Inc. Acquires 5,900 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Turtle Creek Asset Management Inc. increased its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 44.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 19,140 shares of the company’s stock after buying an additional 5,900 shares during the period. Turtle Creek Asset Management Inc.’s holdings in Builders FirstSource were worth $2,736,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of BLDR. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Builders FirstSource in the fourth quarter valued at approximately $33,000. SBI Securities Co. Ltd. bought a new position in Builders FirstSource during the fourth quarter valued at $34,000. Avion Wealth grew its holdings in Builders FirstSource by 728.6% during the fourth quarter. Avion Wealth now owns 348 shares of the company’s stock valued at $49,000 after purchasing an additional 306 shares during the period. Mather Group LLC. grew its holdings in Builders FirstSource by 91.2% during the fourth quarter. Mather Group LLC. now owns 497 shares of the company’s stock valued at $71,000 after purchasing an additional 237 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in Builders FirstSource by 34.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 518 shares of the company’s stock valued at $74,000 after purchasing an additional 134 shares during the period. 95.53% of the stock is owned by institutional investors.

Builders FirstSource Trading Up 2.2%

Shares of BLDR stock opened at $120.57 on Friday. The business’s fifty day moving average is $120.65 and its 200 day moving average is $146.38. Builders FirstSource, Inc. has a 52-week low of $103.81 and a 52-week high of $203.14. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.16 and a current ratio of 1.77. The company has a market capitalization of $13.33 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 0.80 and a beta of 1.79.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. Builders FirstSource had a return on equity of 30.54% and a net margin of 6.57%. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter last year, the business posted $2.65 earnings per share. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. On average, equities research analysts anticipate that Builders FirstSource, Inc. will post 11.59 EPS for the current fiscal year.

Builders FirstSource announced that its board has authorized a share buyback plan on Thursday, May 1st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Raymond James reissued an “outperform” rating and set a $140.00 price objective (down from $170.00) on shares of Builders FirstSource in a report on Friday, May 2nd. Robert W. Baird set a $130.00 price objective on Builders FirstSource in a report on Friday, May 2nd. Benchmark reduced their price objective on Builders FirstSource from $200.00 to $170.00 and set a “buy” rating for the company in a report on Friday, February 21st. Royal Bank of Canada reissued an “outperform” rating and set a $132.00 price objective on shares of Builders FirstSource in a report on Thursday. Finally, UBS Group reduced their price objective on Builders FirstSource from $180.00 to $163.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $167.58.

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.