Vestcor Inc Increases Stake in Builders FirstSource, Inc. (NYSE:BLDR)

Vestcor Inc lifted its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 2.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 9,145 shares of the company’s stock after buying an additional 241 shares during the period. Vestcor Inc’s holdings in Builders FirstSource were worth $1,143,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC raised its position in shares of Builders FirstSource by 7.3% during the 4th quarter. FMR LLC now owns 10,898,366 shares of the company’s stock worth $1,557,703,000 after acquiring an additional 740,214 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in Builders FirstSource by 16.8% during the first quarter. Diamond Hill Capital Management Inc. now owns 2,270,362 shares of the company’s stock worth $283,659,000 after buying an additional 326,923 shares during the period. Invesco Ltd. increased its position in Builders FirstSource by 1.2% during the fourth quarter. Invesco Ltd. now owns 2,253,588 shares of the company’s stock worth $322,105,000 after buying an additional 26,314 shares during the period. Dimensional Fund Advisors LP increased its position in Builders FirstSource by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,237,996 shares of the company’s stock worth $319,898,000 after buying an additional 77,666 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Builders FirstSource by 8.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,578,655 shares of the company’s stock worth $225,637,000 after buying an additional 120,400 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

Builders FirstSource Stock Up 2.4%

Builders FirstSource stock opened at $130.18 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.79 and a quick ratio of 1.07. Builders FirstSource, Inc. has a 1-year low of $102.60 and a 1-year high of $203.14. The company has a market cap of $14.39 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 11.62 and a beta of 1.69. The stock’s 50 day moving average price is $120.51 and its 200 day moving average price is $129.10.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.03. Builders FirstSource had a return on equity of 24.61% and a net margin of 4.74%. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the previous year, the business earned $3.50 earnings per share. The company’s revenue for the quarter was down 5.0% compared to the same quarter last year. On average, sell-side analysts predict that Builders FirstSource, Inc. will post 11.59 EPS for the current fiscal year.

Builders FirstSource announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 1st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Dirkson R. Charles bought 5,000 shares of the firm’s stock in a transaction on Tuesday, May 27th. The shares were bought at an average cost of $109.67 per share, for a total transaction of $548,350.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at $548,350. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul S. Levy acquired 283,517 shares of Builders FirstSource stock in a transaction dated Thursday, May 8th. The stock was bought at an average price of $111.21 per share, for a total transaction of $31,529,925.57. Following the completion of the transaction, the director directly owned 1,672,687 shares of the company’s stock, valued at approximately $186,019,521.27. This represents a 20.41% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 505,000 shares of company stock worth $56,032,120. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

BLDR has been the topic of several research analyst reports. Stifel Nicolaus lifted their price target on Builders FirstSource from $118.00 to $128.00 and gave the stock a “hold” rating in a research report on Friday. Oppenheimer set a $155.00 price target on Builders FirstSource and gave the stock an “outperform” rating in a research report on Thursday, July 10th. Loop Capital cut their price target on Builders FirstSource from $190.00 to $170.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Barclays cut their price target on Builders FirstSource from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Wedbush cut their price target on Builders FirstSource from $190.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, June 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $158.79.

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.