Riversedge Advisors LLC Acquires New Shares in Builders FirstSource, Inc. (NYSE:BLDR)

Riversedge Advisors LLC bought a new stake in Builders FirstSource, Inc. (NYSE:BLDR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,044 shares of the company’s stock, valued at approximately $202,000.

Other large investors also recently modified their holdings of the company. Mezzasalma Advisors LLC bought a new stake in Builders FirstSource in the 3rd quarter valued at $203,000. Amplius Wealth Advisors LLC bought a new stake in shares of Builders FirstSource in the third quarter valued at about $231,000. Swedbank AB boosted its position in shares of Builders FirstSource by 20.6% during the third quarter. Swedbank AB now owns 45,465 shares of the company’s stock worth $8,814,000 after buying an additional 7,774 shares during the period. Creative Planning grew its holdings in shares of Builders FirstSource by 35.6% during the third quarter. Creative Planning now owns 12,963 shares of the company’s stock worth $2,513,000 after buying an additional 3,406 shares in the last quarter. Finally, Armstrong Advisory Group Inc. acquired a new stake in Builders FirstSource in the 3rd quarter valued at approximately $30,000. 95.53% of the stock is currently owned by institutional investors.

Builders FirstSource Price Performance

NYSE BLDR traded down $3.39 during trading hours on Thursday, hitting $194.86. The company had a trading volume of 624,307 shares, compared to its average volume of 1,584,977. The firm has a 50 day simple moving average of $180.15 and a 200 day simple moving average of $169.72. Builders FirstSource, Inc. has a 52 week low of $105.24 and a 52 week high of $214.70. The firm has a market capitalization of $23.78 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 11.48 and a beta of 2.06. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83.

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

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

Insider Buying and Selling

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following the completion of the transaction, the director now directly owns 95,333 shares in the company, valued at approximately $14,650,775.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BLDR. Barclays lifted their price objective on shares of Builders FirstSource from $182.00 to $211.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Robert W. Baird increased their price objective on shares of Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a research note on Wednesday. B. Riley decreased their price objective on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Bank of America upped their target price on Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Finally, Stifel Nicolaus decreased their price target on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $198.38.

Builders FirstSource 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.