ProShare Advisors LLC Boosts Position in Builders FirstSource, Inc. (NYSE:BLDR)

ProShare Advisors LLC grew its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 22.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,216 shares of the company’s stock after buying an additional 3,517 shares during the quarter. ProShare Advisors LLC’s holdings in Builders FirstSource were worth $2,660,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Westside Investment Management Inc. acquired a new position in Builders FirstSource during the 1st quarter worth approximately $31,000. ORG Partners LLC acquired a new position in shares of Builders FirstSource during the first quarter worth $33,000. American Capital Advisory LLC acquired a new position in shares of Builders FirstSource during the first quarter worth $34,000. Innealta Capital LLC acquired a new stake in Builders FirstSource during the 2nd quarter valued at $27,000. Finally, Optimum Investment Advisors acquired a new stake in Builders FirstSource during the 1st quarter valued at $52,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BLDR. Loop Capital upped their price objective 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. StockNews.com raised Builders FirstSource from a “hold” rating to a “buy” rating in a report on Monday, September 23rd. Barclays lowered their price objective on Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Robert W. Baird raised Builders FirstSource from a “neutral” rating to an “outperform” rating and upped their target price for the company from $185.00 to $190.00 in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $185.00 price target (down previously from $205.00) on shares of Builders FirstSource in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $190.00.

Insider Buying and Selling

In related news, Director Craig Arthur Steinke sold 30,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now directly owns 95,333 shares in the company, valued at approximately $14,650,775.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.80% of the company’s stock.

Builders FirstSource Stock Up 2.1 %

Shares of NYSE:BLDR opened at $194.08 on Friday. Builders FirstSource, Inc. has a 1-year low of $105.24 and a 1-year high of $214.70. The company’s fifty day moving average is $171.17 and its two-hundred day moving average is $170.84. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. The stock has a market capitalization of $23.69 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 11.56 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last issued its earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $4.48 billion. During the same quarter last year, the company posted $3.89 earnings per share. Builders FirstSource’s revenue was down 1.6% on a year-over-year basis. Equities analysts anticipate that Builders FirstSource, Inc. will post 11.68 EPS for the current year.

Builders FirstSource announced that its board has authorized a share buyback program 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 programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.