PCJ Investment Counsel Ltd. Acquires Shares of 5,000 Builders FirstSource, Inc. (NYSE:BLDR)

PCJ Investment Counsel Ltd. acquired a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 5,000 shares of the company’s stock, valued at approximately $969,000.

Several other institutional investors have also recently made changes to their positions in the stock. Commerce Bank lifted its position in shares of Builders FirstSource by 2.9% during the third quarter. Commerce Bank now owns 338,898 shares of the company’s stock worth $65,699,000 after acquiring an additional 9,557 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Builders FirstSource during the third quarter worth $119,000. PNC Financial Services Group Inc. lifted its position in shares of Builders FirstSource by 69.5% during the third quarter. PNC Financial Services Group Inc. now owns 9,437 shares of the company’s stock worth $1,829,000 after acquiring an additional 3,870 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Builders FirstSource during the third quarter worth $1,383,000. Finally, Meeder Asset Management Inc. lifted its position in shares of Builders FirstSource by 3,220.8% during the third quarter. Meeder Asset Management Inc. now owns 2,557 shares of the company’s stock worth $496,000 after acquiring an additional 2,480 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Builders FirstSource Trading Up 0.3 %

NYSE:BLDR opened at $178.81 on Wednesday. Builders FirstSource, Inc. has a 12 month low of $130.75 and a 12 month high of $214.70. The firm has a fifty day simple moving average of $186.23 and a 200-day simple moving average of $167.87. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $20.58 billion, a P/E ratio of 17.46, a PEG ratio of 0.98 and a beta of 2.08.

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

Builders FirstSource announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 5.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

BLDR has been the topic of a number of recent analyst reports. Royal Bank of Canada increased 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. Barclays raised their price target on Builders FirstSource from $182.00 to $211.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Bank of America raised their price target on Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Jefferies Financial Group raised their price objective on Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Benchmark reduced their price objective on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $206.47.

Insider Buying and Selling at Builders FirstSource

In other news, Director Cleveland A. Christophe sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were 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 owns 33,083 shares of the company’s stock, valued at $5,902,338.03. The trade was a 23.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by corporate insiders.

Builders FirstSource Company 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.