BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Position in Builders FirstSource, Inc. (NYSE:BLDR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 58.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,356 shares of the company’s stock after acquiring an additional 8,628 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Builders FirstSource were worth $3,233,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in Builders FirstSource in the 2nd quarter worth $27,000. Westside Investment Management Inc. bought a new position in Builders FirstSource in the first quarter worth about $31,000. ORG Partners LLC bought a new position in Builders FirstSource in the first quarter worth about $33,000. American Capital Advisory LLC purchased a new stake in Builders FirstSource in the first quarter worth about $34,000. Finally, First Horizon Advisors Inc. boosted its position in Builders FirstSource by 42.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after acquiring an additional 75 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Insider Buying and Selling

In related news, Director Craig Arthur Steinke sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the completion of the transaction, the director now directly owns 95,333 shares of the company’s stock, valued at $14,650,775.44. The sale was disclosed in a filing with the SEC, which is available through this link. 1.80% of the stock is owned by company insiders.

Builders FirstSource Stock Up 2.1 %

NYSE BLDR opened at $194.08 on Friday. The stock’s 50-day moving average price is $171.17 and its 200-day moving average price is $170.84. The company has a market capitalization of $23.69 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 11.56 and a beta of 2.06. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88. Builders FirstSource, Inc. has a 52 week low of $105.24 and a 52 week high of $214.70.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.48. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The business had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. During the same period last year, the firm earned $3.89 earnings per share. The business’s quarterly revenue was down 1.6% on a year-over-year basis. On average, equities research analysts predict that Builders FirstSource, Inc. will post 11.68 earnings per share for the current year.

Builders FirstSource announced that its Board of Directors has authorized a stock buyback program on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research firms recently weighed in on BLDR. Jefferies Financial Group restated a “buy” rating and set a $185.00 price target (down from $205.00) on shares of Builders FirstSource in a research report on Friday, August 9th. Benchmark dropped their target price on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Stifel Nicolaus decreased their target price 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. Barclays dropped their price target on shares of Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Finally, Baird R W raised shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Builders FirstSource currently has an average rating of “Moderate Buy” and an average target price of $190.00.

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.