Oakworth Capital Inc. Takes Position in Builders FirstSource, Inc. (NYSE:BLDR)

Oakworth Capital Inc. acquired a new stake in Builders FirstSource, Inc. (NYSE:BLDR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 211,259 shares of the company’s stock, valued at approximately $40,955,000. Builders FirstSource accounts for 2.8% of Oakworth Capital Inc.’s portfolio, making the stock its 10th biggest holding. Oakworth Capital Inc. owned 0.17% of Builders FirstSource as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Horst & Graben Wealth Management LLC bought a new position in Builders FirstSource in the third quarter worth $211,000. Whittier Trust Co. of Nevada Inc. raised its stake in Builders FirstSource by 4.2% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 73,894 shares of the company’s stock worth $14,325,000 after acquiring an additional 2,993 shares in the last quarter. Whittier Trust Co. raised its stake in Builders FirstSource by 4.3% during the third quarter. Whittier Trust Co. now owns 116,630 shares of the company’s stock worth $22,610,000 after acquiring an additional 4,796 shares in the last quarter. Gerber LLC acquired a new position in Builders FirstSource during the third quarter worth $275,000. Finally, OLD National Bancorp IN acquired a new position in Builders FirstSource during the third quarter worth $298,000. 95.53% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource 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 owns 95,333 shares in the company, valued at $14,650,775.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BLDR shares. Jefferies Financial Group raised their target price on Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group started coverage on Builders FirstSource in a research note on Thursday, October 10th. They issued a “buy” rating and a $225.00 target price for the company. B. Riley lowered their target price on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada decreased their price target on Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Finally, Benchmark decreased their price target on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Builders FirstSource currently has an average rating of “Moderate Buy” and an average target price of $198.38.

Builders FirstSource Price Performance

Shares of BLDR opened at $182.85 on Tuesday. Builders FirstSource, Inc. has a 1 year low of $105.24 and a 1 year high of $214.70. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88. The stock has a market cap of $22.32 billion, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 11.48 and a beta of 2.06. The stock’s 50-day moving average price is $182.41 and its two-hundred day moving average price is $169.28.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.48. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The business had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. During the same quarter in the previous year, the business posted $3.89 EPS. Builders FirstSource’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities analysts predict that Builders FirstSource, Inc. will post 11.68 earnings per share for the current year.

Builders FirstSource announced that its Board of Directors has initiated a share buyback plan on Tuesday, August 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

About Builders FirstSource

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.