Dakota Wealth Management Invests $1.95 Million in Builders FirstSource, Inc. (NYSE:BLDR)

Dakota Wealth Management acquired a new stake in Builders FirstSource, Inc. (NYSE:BLDR) in the 3rd quarter, HoldingsChannel reports. The fund acquired 10,045 shares of the company’s stock, valued at approximately $1,947,000.

Other institutional investors have also recently made changes to their positions in the company. 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 worth $163,373,000 after purchasing an additional 911,990 shares during the period. Bessemer Group Inc. increased its stake in shares of Builders FirstSource by 477,028.7% during the first quarter. Bessemer Group Inc. now owns 448,501 shares of the company’s stock worth $93,535,000 after buying an additional 448,407 shares during the period. Clearbridge Investments LLC acquired a new stake in Builders FirstSource in the second quarter valued at approximately $49,000,000. Oakworth Capital Inc. purchased a new position in Builders FirstSource in the third quarter worth approximately $40,955,000. Finally, Bank of New York Mellon Corp lifted its stake in Builders FirstSource by 22.7% in the second quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock worth $147,059,000 after acquiring an additional 196,571 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Builders FirstSource Stock Performance

Shares of Builders FirstSource stock opened at $180.80 on Friday. The stock has a market capitalization of $22.07 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 11.48 and a beta of 2.06. The firm’s fifty day simple moving average is $183.91 and its 200-day simple moving average is $168.92. 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, Inc. has a 12 month low of $105.24 and a 12 month high of $214.70.

Builders FirstSource (NYSE:BLDR) last announced its 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 business had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.48 billion. During the same period in the prior year, the company earned $3.89 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. As a group, equities analysts forecast that Builders FirstSource, Inc. will post 11.68 earnings per share for the current year.

Builders FirstSource declared that its board has initiated a stock repurchase program on Tuesday, August 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BLDR. StockNews.com upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating in a report on Monday, September 23rd. Baird R W upgraded Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. B. Riley decreased their price target on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Bank of America increased their price objective on Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Finally, Robert W. Baird raised their target price on Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Builders FirstSource has a consensus rating of “Moderate Buy” and an average target price of $200.35.

Insider Buying and Selling at Builders FirstSource

In other 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 transaction of $4,610,400.00. Following the completion of the sale, the director now owns 95,333 shares in the company, valued at $14,650,775.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.80% of the company’s stock.

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.