abrdn plc Increases Position in Builders FirstSource, Inc. (NYSE:BLDR)

abrdn plc lifted its position in Builders FirstSource, Inc. (NYSE:BLDR) by 124.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,858 shares of the company’s stock after purchasing an additional 28,762 shares during the period. abrdn plc’s holdings in Builders FirstSource were worth $8,657,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of BLDR. Contravisory Investment Management Inc. purchased a new stake in shares of Builders FirstSource in the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. purchased a new stake in shares of Builders FirstSource in the fourth quarter valued at approximately $29,000. Rock Creek Group LP purchased a new stake in shares of Builders FirstSource in the third quarter valued at approximately $30,000. BluePath Capital Management LLC purchased a new stake in shares of Builders FirstSource in the third quarter valued at approximately $31,000. Finally, Raleigh Capital Management Inc. raised its stake in Builders FirstSource by 134.0% in the third quarter. Raleigh Capital Management Inc. now owns 248 shares of the company’s stock worth $31,000 after buying an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Royal Bank of Canada boosted their price objective on shares of Builders FirstSource from $186.00 to $211.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Barclays boosted their price objective on shares of Builders FirstSource from $235.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. DA Davidson reissued a “neutral” rating and issued a $185.00 price objective on shares of Builders FirstSource in a research note on Thursday, March 28th. Bank of America raised shares of Builders FirstSource from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $153.00 to $200.00 in a research note on Monday, January 29th. Finally, Wedbush boosted their price objective on shares of Builders FirstSource from $175.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, February 12th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $190.06.

Insider Transactions at Builders FirstSource

In related news, Director Cory Jacobs Boydston sold 7,759 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $200.00, for a total transaction of $1,551,800.00. Following the sale, the director now directly owns 28,738 shares of the company’s stock, valued at $5,747,600. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.90% of the company’s stock.

Builders FirstSource Trading Up 1.3 %

Shares of NYSE:BLDR opened at $187.64 on Friday. Builders FirstSource, Inc. has a 52-week low of $90.35 and a 52-week high of $214.70. The stock has a market cap of $22.88 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.16 and a beta of 2.04. The company has a quick ratio of 1.11, a current ratio of 1.77 and a debt-to-equity ratio of 0.67. The business has a 50-day moving average price of $195.18 and a 200-day moving average price of $164.58.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $3.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.85. Builders FirstSource had a return on equity of 41.10% and a net margin of 9.01%. The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Equities analysts predict that Builders FirstSource, Inc. will post 13.83 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.