Tocqueville Asset Management L.P. Purchases Shares of 225,588 Builders FirstSource, Inc. $BLDR

Tocqueville Asset Management L.P. purchased a new stake in Builders FirstSource, Inc. (NYSE:BLDR) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 225,588 shares of the company’s stock, valued at approximately $20,186,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Schwartz Investment Counsel Inc. raised its holdings in shares of Builders FirstSource by 17.1% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 95,800 shares of the company’s stock valued at $9,857,000 after purchasing an additional 14,000 shares during the last quarter. Eagle Global Advisors LLC lifted its position in shares of Builders FirstSource by 46.3% in the fourth quarter. Eagle Global Advisors LLC now owns 60,242 shares of the company’s stock worth $6,198,000 after purchasing an additional 19,062 shares in the last quarter. Fiera Capital Corp boosted its holdings in Builders FirstSource by 36.0% during the fourth quarter. Fiera Capital Corp now owns 653,839 shares of the company’s stock worth $67,273,000 after purchasing an additional 173,230 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Builders FirstSource by 10.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 238,867 shares of the company’s stock valued at $24,993,000 after purchasing an additional 22,270 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its position in Builders FirstSource by 13.4% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 1,872,708 shares of the company’s stock valued at $192,683,000 after purchasing an additional 221,641 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Builders FirstSource Stock Performance

Shares of BLDR stock opened at $72.53 on Thursday. The stock has a market cap of $7.80 billion, a P/E ratio of 79.71, a P/E/G ratio of 2.19 and a beta of 1.44. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.79 and a quick ratio of 1.09. The company has a fifty day moving average price of $76.29 and a two-hundred day moving average price of $85.00. Builders FirstSource, Inc. has a one year low of $65.10 and a one year high of $151.03.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.08). The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.91 billion. Builders FirstSource had a net margin of 0.71% and a return on equity of 11.73%. The business’s revenue was down 8.8% on a year-over-year basis. During the same period last year, the business earned $2.38 EPS. As a group, equities analysts predict that Builders FirstSource, Inc. will post 3.15 EPS for the current year.

Builders FirstSource declared that its Board of Directors has authorized a share repurchase program on Thursday, April 30th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BLDR shares. DA Davidson set a $68.00 price target on shares of Builders FirstSource in a research report on Friday, July 31st. Zacks Research downgraded Builders FirstSource from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. The Goldman Sachs Group dropped their target price on Builders FirstSource from $110.00 to $101.00 in a report on Friday, May 1st. Barclays reduced their price target on Builders FirstSource from $93.00 to $81.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Finally, Stephens decreased their price target on Builders FirstSource from $125.00 to $100.00 and set an “equal weight” rating for the company in a research note on Monday, April 27th. Nine analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $90.35.

About Builders FirstSource

Builders FirstSource, Inc is a leading supplier of structural and value-added building products and services to professional contractors, homebuilders and remodelers. The company provides a comprehensive range of materials and prefabricated components that support all phases of residential construction, from site development and framing to finishing and installation.

The company’s core offerings include lumber and lumber sheet goods, windows and doors, millwork, roofing and siding, and engineered wood products such as roof and floor trusses.