Hardy Reed LLC Invests $1.22 Million in Builders FirstSource, Inc. (NYSE:BLDR)

Hardy Reed LLC bought a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 6,268 shares of the company’s stock, valued at approximately $1,215,000.

Other hedge funds also recently modified their holdings of the company. Advisors Asset Management Inc. boosted its stake in shares of Builders FirstSource by 32.0% in the 1st quarter. Advisors Asset Management Inc. now owns 2,046 shares of the company’s stock worth $427,000 after buying an additional 496 shares during the last quarter. Mount Yale Investment Advisors LLC bought a new position in shares of Builders FirstSource during the 1st quarter valued at approximately $229,000. Janus Henderson Group PLC grew its position in shares of Builders FirstSource by 21.1% during the 1st quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock valued at $4,173,000 after acquiring an additional 3,483 shares during the period. California State Teachers Retirement System increased its stake in shares of Builders FirstSource by 1.1% during the 1st quarter. California State Teachers Retirement System now owns 208,130 shares of the company’s stock worth $43,406,000 after purchasing an additional 2,259 shares during the last quarter. Finally, LBP AM SA bought a new stake in shares of Builders FirstSource in the 1st quarter worth approximately $1,014,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BLDR shares. 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. B. Riley decreased their price objective on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. DA Davidson upped their price objective on shares of Builders FirstSource from $169.00 to $175.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. The Goldman Sachs Group initiated coverage on shares of Builders FirstSource in a research report on Thursday, October 10th. They set a “buy” rating and a $225.00 target price for the company. Finally, Wedbush reissued an “outperform” rating and issued a $230.00 price target on shares of Builders FirstSource in a research report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $206.47.

Builders FirstSource Price Performance

Shares of NYSE BLDR opened at $185.77 on Wednesday. The stock’s 50-day simple moving average is $186.26 and its two-hundred day simple moving average is $168.02. Builders FirstSource, Inc. has a twelve month low of $130.75 and a twelve month high of $214.70. The firm has a market capitalization of $21.38 billion, a P/E ratio of 18.14, a P/E/G ratio of 1.06 and a beta of 2.08. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 0.83.

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

Builders FirstSource announced that its Board of Directors has authorized a share buyback program on Tuesday, August 6th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Builders FirstSource

In related news, Director Cleveland A. Christophe sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $178.41, for a total value of $1,784,100.00. Following the completion of the sale, the director now owns 33,083 shares in the company, valued at $5,902,338.03. The trade was a 23.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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.