Charles Schwab Investment Management Inc. Acquires 16,000 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Charles Schwab Investment Management Inc. lifted its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 2.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 785,842 shares of the company’s stock after buying an additional 16,000 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Builders FirstSource were worth $152,343,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BLDR. Banco Santander S.A. bought a new stake in shares of Builders FirstSource during the 3rd quarter worth $706,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Builders FirstSource by 23.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,458,255 shares of the company’s stock worth $282,697,000 after acquiring an additional 277,897 shares during the last quarter. Integrated Investment Consultants LLC acquired a new stake in shares of Builders FirstSource in the 3rd quarter valued at approximately $2,897,000. Landscape Capital Management L.L.C. acquired a new stake in Builders FirstSource in the third quarter valued at approximately $810,000. Finally, King Luther Capital Management Corp increased its holdings in shares of Builders FirstSource by 1.3% during the third quarter. King Luther Capital Management Corp now owns 11,416 shares of the company’s stock worth $2,213,000 after buying an additional 149 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BLDR. Royal Bank of Canada boosted their price objective on Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Robert W. Baird upped their price objective on Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Baird R W upgraded shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Loop Capital upped their price target 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. Finally, The Goldman Sachs Group started coverage on shares of Builders FirstSource in a report on Thursday, October 10th. They set a “buy” rating and a $225.00 price target on the stock. Five research 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. According to MarketBeat, Builders FirstSource currently has an average rating of “Moderate Buy” and an average price target of $206.47.

Builders FirstSource Stock Performance

Shares of Builders FirstSource stock opened at $178.52 on Monday. The business has a 50-day simple moving average of $186.23 and a 200 day simple moving average of $167.88. The firm has a market capitalization of $20.54 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 0.98 and a beta of 2.08. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.77 and a quick ratio of 1.16. Builders FirstSource, Inc. has a one year low of $130.75 and a one year high of $214.70.

Builders FirstSource (NYSE:BLDR) last posted its earnings results on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.02). The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.44 billion. Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The company’s revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $4.24 earnings per share. On average, research analysts anticipate that Builders FirstSource, Inc. will post 11.56 earnings per share for the current fiscal year.

Builders FirstSource announced that its board has initiated 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 purchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Cleveland A. Christophe sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the completion of the sale, the director now directly owns 33,083 shares of the company’s stock, valued at $5,902,338.03. This trade represents a 23.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.80% of the stock is owned by corporate insiders.

Builders FirstSource 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.