APG Asset Management N.V. Acquires 13,621 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

APG Asset Management N.V. lifted its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 4.3% during the 2nd quarter, Holdings Channel reports. The firm owned 331,136 shares of the company’s stock after purchasing an additional 13,621 shares during the period. APG Asset Management N.V.’s holdings in Builders FirstSource were worth $42,764,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BLDR. Innealta Capital LLC acquired a new position in Builders FirstSource in the second quarter valued at about $27,000. Westside Investment Management Inc. acquired a new position in shares of Builders FirstSource in the 1st quarter valued at approximately $31,000. ORG Partners LLC bought a new stake in shares of Builders FirstSource during the 1st quarter worth approximately $33,000. American Capital Advisory LLC acquired a new stake in shares of Builders FirstSource during the 1st quarter worth approximately $34,000. Finally, First Horizon Advisors Inc. increased its stake in Builders FirstSource by 42.1% in the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after acquiring an additional 75 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BLDR shares. Barclays cut their target price 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. Stifel Nicolaus reduced their price objective on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Oppenheimer lifted their target price on Builders FirstSource from $205.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Jefferies Financial Group restated a “buy” rating and issued a $185.00 price target (down from $205.00) on shares of Builders FirstSource in a research note on Friday, August 9th. Finally, 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. 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $190.00.

Builders FirstSource Price Performance

Shares of NYSE BLDR opened at $194.08 on Friday. The company has a market capitalization of $23.69 billion, a PE ratio of 16.62, a P/E/G ratio of 11.56 and a beta of 2.06. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88. Builders FirstSource, Inc. has a twelve month low of $105.24 and a twelve month high of $214.70. The firm has a fifty day simple moving average of $171.17 and a 200 day simple moving average of $170.84.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. The firm had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.48 billion. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the business posted $3.89 EPS. On average, sell-side analysts forecast that Builders FirstSource, Inc. will post 11.68 EPS for the current year.

Builders FirstSource announced that its Board of Directors has approved a share repurchase plan on Tuesday, August 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is 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.