Handelsbanken Fonder AB Increases Stake in Builders FirstSource, Inc. (NYSE:BLDR)

Handelsbanken Fonder AB raised its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 18.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 29,719 shares of the company’s stock after acquiring an additional 4,700 shares during the period. Handelsbanken Fonder AB’s holdings in Builders FirstSource were worth $5,761,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Builders FirstSource by 15.7% during the 4th quarter. Vanguard Group Inc. now owns 14,668,049 shares of the company’s stock valued at $2,448,684,000 after buying an additional 1,985,297 shares during the period. Boston Partners grew its stake in shares of Builders FirstSource by 0.8% in the first quarter. Boston Partners now owns 1,377,335 shares of the company’s stock worth $285,794,000 after purchasing an additional 10,551 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Builders FirstSource by 339.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock valued at $163,373,000 after purchasing an additional 911,990 shares during the period. Frontier Capital Management Co. LLC raised its position in Builders FirstSource by 34.8% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,133,751 shares of the company’s stock valued at $189,268,000 after purchasing an additional 292,966 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Builders FirstSource by 22.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock worth $147,059,000 after buying an additional 196,571 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BLDR. Bank of America boosted their target price on Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Robert W. Baird upgraded shares of Builders FirstSource from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $185.00 to $190.00 in a report on Wednesday, August 7th. Stifel Nicolaus cut their target price on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. 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. Finally, Jefferies Financial Group restated a “buy” rating and issued a $185.00 price objective (down from $205.00) on shares of Builders FirstSource in a report on Friday, August 9th. Four research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $190.00.

Builders FirstSource Stock Performance

Shares of Builders FirstSource stock opened at $192.18 on Tuesday. Builders FirstSource, Inc. has a 1 year low of $105.24 and a 1 year high of $214.70. The firm’s 50-day moving average is $174.99 and its 200 day moving average is $170.14. The stock has a market cap of $23.46 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 11.56 and a beta of 2.06. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.14.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, beating 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 in the prior year, the company posted $3.89 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Sell-side analysts anticipate that Builders FirstSource, Inc. will post 11.68 EPS for the current fiscal year.

Builders FirstSource announced that its board has approved a share repurchase program on Tuesday, August 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes 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 management believes its stock is undervalued.

Insider Transactions at Builders FirstSource

In related news, Director Craig Arthur Steinke sold 30,000 shares of the 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 sale, the director now directly owns 95,333 shares of the company’s stock, valued at $14,650,775.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

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.