Kornitzer Capital Management Inc. KS Grows Position in Builders FirstSource, Inc. (NYSE:BLDR)

Kornitzer Capital Management Inc. KS grew its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 55.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,986 shares of the company’s stock after purchasing an additional 20,000 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Builders FirstSource were worth $10,853,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BLDR. Boston Partners raised its stake in shares of Builders FirstSource by 0.8% during the 1st quarter. Boston Partners now owns 1,377,335 shares of the company’s stock worth $285,794,000 after buying an additional 10,551 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Builders FirstSource by 339.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock worth $163,373,000 after buying an additional 911,990 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Builders FirstSource by 22.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock worth $147,059,000 after buying an additional 196,571 shares during the period. William Blair Investment Management LLC raised its stake in shares of Builders FirstSource by 1.2% during the 2nd quarter. William Blair Investment Management LLC now owns 1,051,461 shares of the company’s stock worth $145,533,000 after buying an additional 12,518 shares during the period. Finally, Anomaly Capital Management LP raised its stake in shares of Builders FirstSource by 22.5% during the 2nd quarter. Anomaly Capital Management LP now owns 1,020,441 shares of the company’s stock worth $141,239,000 after buying an additional 187,371 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Benchmark reduced their target price on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. UBS Group assumed coverage on Builders FirstSource in a research note on Friday, October 25th. They set a “buy” rating and a $232.00 target price for the company. Truist Financial raised Builders FirstSource from a “hold” rating to a “buy” rating and upped their target price for the stock from $165.00 to $220.00 in a research note on Monday, September 16th. Royal Bank of Canada increased their price objective on Builders FirstSource from $178.00 to $187.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Wedbush reissued an “outperform” rating and issued a $230.00 price objective on shares of Builders FirstSource in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $206.47.

Builders FirstSource Stock Performance

NYSE BLDR opened at $179.09 on Friday. The stock has a market cap of $20.86 billion, a PE ratio of 15.72, a P/E/G ratio of 10.17 and a beta of 2.08. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88. Builders FirstSource, Inc. has a twelve month low of $120.80 and a twelve month high of $214.70. The stock has a fifty day simple moving average of $184.71 and a 200-day simple moving average of $168.52.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.24 earnings per share. Equities analysts anticipate that Builders FirstSource, Inc. will post 11.69 earnings per share for the current year.

Builders FirstSource declared that its board has authorized a share repurchase program on Tuesday, August 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

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.