Horst & Graben Wealth Management LLC Purchases New Stake in Builders FirstSource, Inc. (NYSE:BLDR)

Horst & Graben Wealth Management LLC acquired a new position in Builders FirstSource, Inc. (NYSE:BLDR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,086 shares of the company’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new stake in Builders FirstSource in the 2nd quarter worth about $27,000. Armstrong Advisory Group Inc. bought a new position in Builders FirstSource during the third quarter worth about $30,000. Westside Investment Management Inc. purchased a new position in shares of Builders FirstSource in the first quarter worth about $31,000. ORG Partners LLC bought a new stake in shares of Builders FirstSource in the first quarter valued at approximately $33,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of 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 buying an additional 75 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BLDR shares. B. Riley lowered their target price on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Barclays boosted their price objective on Builders FirstSource from $182.00 to $211.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Truist Financial upgraded Builders FirstSource from a “hold” rating to a “buy” rating and raised their target price for the stock from $165.00 to $220.00 in a research note on Monday, September 16th. Oppenheimer upped their price target on Builders FirstSource from $205.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Finally, Baird R W upgraded shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Builders FirstSource has an average rating of “Moderate Buy” and an average target price of $198.38.

Builders FirstSource Trading Down 5.2 %

Shares of BLDR stock opened at $184.84 on Tuesday. The business has a 50-day moving average price of $182.41 and a two-hundred day moving average price of $169.28. Builders FirstSource, Inc. has a 12-month low of $105.24 and a 12-month high of $214.70. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88. The firm has a market cap of $22.56 billion, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 11.48 and a beta of 2.06.

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

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

Insider Buying and Selling

In other news, Director Craig Arthur Steinke sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $153.68, for a total value of $4,610,400.00. Following the completion of the sale, the director now owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.80% of the stock is owned by corporate insiders.

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.