Caisse de depot et placement du Quebec Acquires New Position in Builders FirstSource, Inc. $BLDR

Caisse de depot et placement du Quebec acquired a new stake in Builders FirstSource, Inc. (NYSE:BLDR) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 598,900 shares of the company’s stock, valued at approximately $53,590,000.

Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Builders FirstSource in the second quarter worth approximately $700,934,000. Schwartz Investment Counsel Inc. raised its position in Builders FirstSource by 17.1% during the 4th 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 in the last quarter. Fiera Capital Corp raised its position in Builders FirstSource by 36.0% during the 4th quarter. Fiera Capital Corp now owns 653,839 shares of the company’s stock valued at $67,273,000 after purchasing an additional 173,230 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Builders FirstSource by 10.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 238,867 shares of the company’s stock worth $24,993,000 after buying an additional 22,270 shares during the period. Finally, Diamond Hill Capital Management Inc. lifted its holdings in shares of Builders FirstSource by 13.4% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,872,708 shares of the company’s stock worth $192,683,000 after buying an additional 221,641 shares during the period. 95.53% of the stock is owned by hedge funds and other institutional investors.

Builders FirstSource Stock Down 2.0%

NYSE:BLDR opened at $67.29 on Friday. The company’s 50-day simple moving average is $75.22 and its 200-day simple moving average is $82.90. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.09 and a current ratio of 1.79. Builders FirstSource, Inc. has a fifty-two week low of $65.10 and a fifty-two week high of $151.03. The stock has a market capitalization of $7.24 billion, a P/E ratio of 73.94, a P/E/G ratio of 2.23 and a beta of 1.44.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.08). Builders FirstSource had a return on equity of 11.73% and a net margin of 0.71%.The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter last year, the firm earned $2.38 EPS. The company’s revenue was down 8.8% compared to the same quarter last year. On average, equities analysts anticipate that Builders FirstSource, Inc. will post 3.15 earnings per share for the current fiscal year.

Builders FirstSource announced that its Board of Directors has approved a stock repurchase plan on Thursday, April 30th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. UBS Group dropped their price target on Builders FirstSource from $122.00 to $88.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. The Goldman Sachs Group decreased their price objective on Builders FirstSource from $110.00 to $101.00 in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft set a $66.00 price objective on shares of Builders FirstSource in a research note on Friday, July 31st. Wells Fargo & Company cut their target price on shares of Builders FirstSource from $85.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Friday, July 31st. Finally, Robert W. Baird set a $75.00 price target on shares of Builders FirstSource in a report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.