Bridges Investment Management Inc. Makes New Investment in Builders FirstSource, Inc. (NYSE:BLDR)

Bridges Investment Management Inc. purchased a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,944 shares of the company’s stock, valued at approximately $546,000.

Several other large investors have also recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Builders FirstSource by 0.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,240 shares of the company’s stock worth $1,417,000 after buying an additional 74 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of Builders FirstSource by 42.1% in the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after buying an additional 75 shares during the period. Team Hewins LLC increased its holdings in shares of Builders FirstSource by 6.5% in the first quarter. Team Hewins LLC now owns 1,313 shares of the company’s stock worth $274,000 after buying an additional 80 shares during the period. Csenge Advisory Group increased its holdings in shares of Builders FirstSource by 1.9% in the second quarter. Csenge Advisory Group now owns 4,252 shares of the company’s stock worth $589,000 after buying an additional 81 shares during the period. Finally, Congress Wealth Management LLC DE increased its holdings in shares of Builders FirstSource by 1.4% in the fourth quarter. Congress Wealth Management LLC DE now owns 6,197 shares of the company’s stock worth $1,035,000 after buying an additional 85 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BLDR shares. Stifel Nicolaus decreased their price objective on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. B. Riley reduced their price target on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Zelman & Associates restated a “hold” rating on shares of Builders FirstSource in a report on Monday, June 17th. StockNews.com upgraded Builders FirstSource from a “hold” rating to a “buy” rating in a report on Tuesday, September 17th. Finally, Barclays reduced their price target on Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $190.00.

Insider Activity at Builders FirstSource

In related news, Director Craig Arthur Steinke sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $153.68, for a total value of $4,610,400.00. Following the transaction, the director now directly owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is currently owned by insiders.

Builders FirstSource Stock Performance

Shares of BLDR opened at $197.74 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88. The business’s 50 day moving average price is $167.76 and its 200-day moving average price is $170.87. Builders FirstSource, Inc. has a 52 week low of $105.24 and a 52 week high of $214.70. The stock has a market cap of $24.14 billion, a P/E ratio of 16.93, a P/E/G ratio of 10.06 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The firm had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. During the same period in the previous year, the firm posted $3.89 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities research analysts anticipate that Builders FirstSource, Inc. will post 11.65 earnings per share for the current fiscal year.

Builders FirstSource declared that its board has initiated a stock repurchase plan on Tuesday, August 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is 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.