iA Global Asset Management Inc. Has $611,000 Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

iA Global Asset Management Inc. lifted its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 27.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,412 shares of the company’s stock after purchasing an additional 940 shares during the period. iA Global Asset Management Inc.’s holdings in Builders FirstSource were worth $611,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. grew its stake in Builders FirstSource by 42.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after buying an additional 75 shares during the last quarter. Team Hewins LLC lifted its position in shares of Builders FirstSource by 6.5% in the 1st quarter. Team Hewins LLC now owns 1,313 shares of the company’s stock worth $274,000 after acquiring an additional 80 shares during the period. Csenge Advisory Group grew its holdings in shares of Builders FirstSource by 1.9% during the 2nd quarter. Csenge Advisory Group now owns 4,252 shares of the company’s stock worth $589,000 after purchasing an additional 81 shares in the last quarter. Congress Wealth Management LLC DE increased its position in shares of Builders FirstSource by 1.4% during the fourth quarter. Congress Wealth Management LLC DE now owns 6,197 shares of the company’s stock valued at $1,035,000 after purchasing an additional 85 shares during the period. Finally, Quarry LP raised its stake in shares of Builders FirstSource by 49.7% in the fourth quarter. Quarry LP now owns 280 shares of the company’s stock valued at $47,000 after purchasing an additional 93 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors.

Builders FirstSource Trading Up 1.1 %

BLDR stock opened at $174.00 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.21 and a debt-to-equity ratio of 0.75. Builders FirstSource, Inc. has a twelve month low of $105.24 and a twelve month high of $214.70. The company has a market cap of $21.24 billion, a P/E ratio of 14.90, a PEG ratio of 2.57 and a beta of 2.04. The business has a fifty day moving average of $155.31 and a 200-day moving average of $172.10.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.48. Builders FirstSource had a net margin of 8.57% and a return on equity of 38.66%. The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.48 billion. During the same period in the prior year, the company posted $3.89 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts expect that Builders FirstSource, Inc. will post 12.91 EPS for the current year.

Builders FirstSource announced that its board has authorized a stock buyback program on Tuesday, August 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have commented on BLDR. Royal Bank of Canada cut their price target on shares of Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Barclays decreased their price target on Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Stifel Nicolaus cut their price objective on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Wedbush reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Builders FirstSource in a report on Tuesday, August 6th. Finally, Oppenheimer restated an “outperform” rating and issued a $190.00 price target (down from $230.00) on shares of Builders FirstSource in a research report on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $180.47.

Insider Activity at Builders FirstSource

In related news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction 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 sale, 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 legal filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by company insiders.

Builders FirstSource Company 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.