PCJ Investment Counsel Ltd. Buys New Position in Builders FirstSource, Inc. (NYSE:BLDR)

PCJ Investment Counsel Ltd. bought a new stake in Builders FirstSource, Inc. (NYSE:BLDR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,000 shares of the company’s stock, valued at approximately $969,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Commerce Bank increased its stake in shares of Builders FirstSource by 2.9% during the 3rd quarter. Commerce Bank now owns 338,898 shares of the company’s stock valued at $65,699,000 after acquiring an additional 9,557 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Builders FirstSource in the 3rd quarter worth approximately $119,000. PNC Financial Services Group Inc. boosted its holdings in Builders FirstSource by 69.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,437 shares of the company’s stock worth $1,829,000 after acquiring an additional 3,870 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Builders FirstSource during the 3rd quarter valued at approximately $1,383,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of Builders FirstSource by 3,220.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 2,557 shares of the company’s stock valued at $496,000 after buying an additional 2,480 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

BLDR has been the topic of several analyst reports. Jefferies Financial Group increased their target price on Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group initiated coverage on Builders FirstSource in a research note on Thursday, October 10th. They set a “buy” rating and a $225.00 target price for the company. Baird R W raised Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Stephens increased their price target on Builders FirstSource from $178.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, DA Davidson increased their price objective on Builders FirstSource from $169.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $206.47.

Builders FirstSource Stock Up 0.3 %

BLDR stock opened at $178.81 on Wednesday. The stock’s 50 day simple moving average is $186.23 and its 200 day simple moving average is $167.87. Builders FirstSource, Inc. has a fifty-two week low of $130.75 and a fifty-two week high of $214.70. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.77. The company has a market cap of $20.58 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 0.98 and a beta of 2.08.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.44 billion. Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period last year, the company posted $4.24 earnings per share. On average, research analysts expect that Builders FirstSource, Inc. will post 11.56 earnings per share for the current fiscal year.

Builders FirstSource declared that its board has initiated a stock repurchase plan on Tuesday, August 6th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Cleveland A. Christophe sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $178.41, for a total value of $1,784,100.00. Following the completion of the transaction, the director now directly owns 33,083 shares of the company’s stock, valued at $5,902,338.03. This represents a 23.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

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.