Ontario Teachers Pension Plan Board Acquires New Stake in Builders FirstSource, Inc. (NYSE:BLDR)

Ontario Teachers Pension Plan Board acquired a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) during the third quarter, HoldingsChannel reports. The fund acquired 3,985 shares of the company’s stock, valued at approximately $773,000.

A number of other large investors also recently modified their holdings of BLDR. Shell Asset Management Co. lifted its holdings in Builders FirstSource by 103.9% during the 1st quarter. Shell Asset Management Co. now owns 3,595 shares of the company’s stock valued at $750,000 after buying an additional 1,832 shares in the last quarter. CreativeOne Wealth LLC purchased a new position in Builders FirstSource during the 1st quarter worth $640,000. Advisors Asset Management Inc. raised its position in Builders FirstSource by 32.0% during the 1st quarter. Advisors Asset Management Inc. now owns 2,046 shares of the company’s stock valued at $427,000 after purchasing an additional 496 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Builders FirstSource by 1.8% in the 1st quarter. Toronto Dominion Bank now owns 69,634 shares of the company’s stock worth $14,522,000 after buying an additional 1,203 shares during the period. Finally, 1832 Asset Management L.P. grew its position in shares of Builders FirstSource by 4.1% during the 1st quarter. 1832 Asset Management L.P. now owns 121,487 shares of the company’s stock worth $25,336,000 after buying an additional 4,783 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BLDR. Bank of America upped their price objective on shares of Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Royal Bank of Canada increased their price objective on shares of Builders FirstSource from $178.00 to $187.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Loop Capital upped their target price on Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Truist Financial raised Builders FirstSource from a “hold” rating to a “buy” rating and boosted their price target for the stock from $165.00 to $220.00 in a research report on Monday, September 16th. Finally, Benchmark dropped their price objective on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Builders FirstSource currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.47.

Builders FirstSource Stock Up 0.6 %

Builders FirstSource stock opened at $175.94 on Friday. The stock has a 50 day moving average of $186.33 and a two-hundred day moving average of $167.92. Builders FirstSource, Inc. has a twelve month low of $130.75 and a twelve month high of $214.70. The stock has a market capitalization of $20.25 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 1.00 and a beta of 2.08. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83.

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

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

Insider Transactions at Builders FirstSource

In other news, Director Cleveland A. Christophe sold 10,000 shares of the company’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 transaction, the director now owns 33,083 shares of the company’s stock, valued at $5,902,338.03. This represents a 23.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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.