Armstrong Advisory Group Inc. Buys New Position in Builders FirstSource, Inc. (NYSE:BLDR)

Armstrong Advisory Group Inc. purchased a new position in Builders FirstSource, Inc. (NYSE:BLDR) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 155 shares of the company’s stock, valued at approximately $30,000.

A number of other institutional investors also recently made changes to their positions in the stock. Exchange Traded Concepts LLC raised its holdings in Builders FirstSource by 33.1% during the third quarter. Exchange Traded Concepts LLC now owns 10,580 shares of the company’s stock worth $2,051,000 after purchasing an additional 2,633 shares in the last quarter. Gateway Investment Advisers LLC raised its stake in shares of Builders FirstSource by 6.1% in the 3rd quarter. Gateway Investment Advisers LLC now owns 3,109 shares of the company’s stock worth $603,000 after buying an additional 180 shares in the last quarter. Next Level Private LLC bought a new stake in shares of Builders FirstSource in the 3rd quarter worth $204,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Builders FirstSource by 256.6% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,102 shares of the company’s stock valued at $214,000 after buying an additional 793 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC acquired a new position in Builders FirstSource during the third quarter worth about $239,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Builders FirstSource Stock Up 1.9 %

BLDR opened at $196.71 on Tuesday. The company has a market capitalization of $24.01 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 11.48 and a beta of 2.06. The business has a 50-day moving average of $178.44 and a 200-day moving average of $169.61. Builders FirstSource, Inc. has a fifty-two week low of $105.24 and a fifty-two week high of $214.70. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.14.

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

Builders FirstSource announced that its Board of Directors has authorized a share buyback program on Tuesday, August 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Benchmark cut their price target on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Truist Financial raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and increased their target price for the company from $165.00 to $220.00 in a research note on Monday, September 16th. Loop Capital lifted their price target on shares of Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. The Goldman Sachs Group assumed coverage on Builders FirstSource in a research report on Thursday, October 10th. They set a “buy” rating and a $225.00 price objective for the company. Finally, Royal Bank of Canada cut their target price on Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Builders FirstSource currently has an average rating of “Moderate Buy” and an average target price of $196.38.

Insider Buying and Selling

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the transaction, the director now directly owns 95,333 shares in the company, valued at $14,650,775.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

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.