Kornitzer Capital Management Inc. KS Purchases 20,000 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Kornitzer Capital Management Inc. KS grew its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 55.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 55,986 shares of the company’s stock after acquiring an additional 20,000 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Builders FirstSource were worth $10,853,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BLDR. Deseret Mutual Benefit Administrators lifted its position in Builders FirstSource by 39.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 917 shares of the company’s stock worth $178,000 after buying an additional 258 shares during the last quarter. Principal Financial Group Inc. lifted its position in Builders FirstSource by 38.5% in the third quarter. Principal Financial Group Inc. now owns 201,306 shares of the company’s stock worth $39,025,000 after buying an additional 56,009 shares during the last quarter. Wilkinson Global Asset Management LLC lifted its position in Builders FirstSource by 864.7% in the third quarter. Wilkinson Global Asset Management LLC now owns 69,944 shares of the company’s stock worth $13,559,000 after buying an additional 62,694 shares during the last quarter. Jackson Square Capital LLC bought a new stake in Builders FirstSource in the third quarter worth $1,642,000. Finally, Clarity Capital Partners LLC lifted its position in Builders FirstSource by 9.2% in the third quarter. Clarity Capital Partners LLC now owns 7,233 shares of the company’s stock worth $1,402,000 after buying an additional 610 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BLDR. Robert W. Baird raised their price target on Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Oppenheimer reiterated an “outperform” rating and set a $225.00 target price on shares of Builders FirstSource in a research report on Tuesday, October 29th. The Goldman Sachs Group began coverage on Builders FirstSource in a research report on Thursday, October 10th. They set a “buy” rating and a $225.00 target price for the company. Stifel Nicolaus decreased their target price on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Baird R W upgraded Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Builders FirstSource has an average rating of “Moderate Buy” and an average target price of $206.47.

Builders FirstSource Stock Performance

BLDR opened at $179.09 on Friday. The firm’s 50-day moving average price is $184.71 and its 200-day moving average price is $168.52. The company has a market cap of $20.86 billion, a P/E ratio of 15.72, a price-to-earnings-growth ratio of 10.17 and a beta of 2.08. Builders FirstSource, Inc. has a 52-week low of $120.80 and a 52-week high of $214.70. 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 (NYSE:BLDR) last issued its earnings results on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. Builders FirstSource’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.24 EPS. As a group, equities analysts anticipate that Builders FirstSource, Inc. will post 11.69 EPS for the current fiscal year.

Builders FirstSource announced that its Board of Directors has approved a share buyback plan 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 stock through open market purchases. Stock repurchase plans are typically 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.