Builders FirstSource, Inc. (NYSE:BLDR) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 23.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,458,255 shares of the company’s stock after acquiring an additional 277,897 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.27% of Builders FirstSource worth $282,697,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Forsta AP Fonden lifted its position in shares of Builders FirstSource by 12.1% in the third quarter. Forsta AP Fonden now owns 26,800 shares of the company’s stock valued at $5,195,000 after acquiring an additional 2,900 shares in the last quarter. Cetera Investment Advisers boosted its stake in Builders FirstSource by 762.2% during the 1st quarter. Cetera Investment Advisers now owns 50,982 shares of the company’s stock worth $10,632,000 after purchasing an additional 45,069 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Builders FirstSource by 21.1% during the first quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock worth $4,173,000 after buying an additional 3,483 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Builders FirstSource by 18.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 115,995 shares of the company’s stock valued at $16,055,000 after buying an additional 18,223 shares during the last quarter. Finally, AMF Tjanstepension AB purchased a new position in shares of Builders FirstSource in the third quarter worth about $1,471,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Builders FirstSource Price Performance

Shares of NYSE BLDR opened at $178.52 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 0.83. Builders FirstSource, Inc. has a fifty-two week low of $130.75 and a fifty-two week high of $214.70. The business has a 50 day moving average price of $186.33 and a two-hundred day moving average price of $167.97. The firm has a market cap of $20.54 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.00 and a beta of 2.08.

Builders FirstSource (NYSE:BLDR) last issued 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). Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter last year, the firm posted $4.24 earnings per share. Builders FirstSource’s revenue was down 6.7% compared to the same quarter last year. Sell-side analysts expect that Builders FirstSource, Inc. will post 11.56 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Truist Financial upgraded Builders FirstSource from a “hold” rating to a “buy” rating and increased their price objective for the stock from $165.00 to $220.00 in a research report on Monday, September 16th. Jefferies Financial Group raised their price objective on Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Loop Capital upped their target price on shares of Builders FirstSource from $190.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, September 20th. UBS Group began coverage on shares of Builders FirstSource in a research note on Friday, October 25th. They set a “buy” rating and a $232.00 target price for the company. Finally, Baird R W raised shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $206.47.

Insider Buying and Selling

In related news, Director Cleveland A. Christophe sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $178.41, for a total value of $1,784,100.00. Following the sale, the director now directly owns 33,083 shares in the company, valued at $5,902,338.03. This trade represents a 23.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by company 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.