Harvest Fund Management Co. Ltd Purchases 4,417 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Harvest Fund Management Co. Ltd grew its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 410.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,492 shares of the company’s stock after buying an additional 4,417 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Builders FirstSource were worth $1,065,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Forsta AP Fonden raised its position in shares of Builders FirstSource by 12.1% during the 3rd quarter. Forsta AP Fonden now owns 26,800 shares of the company’s stock valued at $5,195,000 after buying an additional 2,900 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Builders FirstSource by 762.2% during the 1st quarter. Cetera Investment Advisers now owns 50,982 shares of the company’s stock valued at $10,632,000 after buying an additional 45,069 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Builders FirstSource by 21.1% during the 1st quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock valued at $4,173,000 after buying an additional 3,483 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Builders FirstSource by 18.6% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 115,995 shares of the company’s stock valued at $16,055,000 after buying an additional 18,223 shares in the last quarter. Finally, AMF Tjanstepension AB purchased a new stake in shares of Builders FirstSource during the 3rd quarter valued at $1,471,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Insider Buying and Selling

In related news, Director Cleveland A. Christophe sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the sale, the director now owns 33,083 shares of the company’s stock, valued at $5,902,338.03. The trade was 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 link. 1.80% of the stock is currently owned by insiders.

Builders FirstSource Trading Up 5.9 %

Shares of BLDR opened at $189.08 on Tuesday. The firm’s 50-day moving average price is $186.23 and its 200-day moving average price is $167.88. The firm has a market capitalization of $21.76 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 1.00 and a beta of 2.08. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. Builders FirstSource, Inc. has a 1-year low of $130.75 and a 1-year high of $214.70.

Builders FirstSource (NYSE:BLDR) last announced its 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 company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.44 billion. Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $4.24 EPS. Sell-side analysts anticipate that Builders FirstSource, Inc. will post 11.56 EPS for the current year.

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

Analyst Ratings Changes

BLDR has been the topic of a number of analyst reports. DA Davidson lifted their target price on shares of Builders FirstSource from $169.00 to $175.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. UBS Group initiated coverage on shares of Builders FirstSource in a research report on Friday, October 25th. They issued a “buy” rating and a $232.00 target price on the stock. B. Riley decreased their target price on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Wedbush reiterated an “outperform” rating and issued a $230.00 target price on shares of Builders FirstSource in a research report on Wednesday, November 6th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $225.00 target price on shares of Builders FirstSource in a research report on Tuesday, October 29th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $206.47.

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.