Cerity Partners LLC Boosts Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Cerity Partners LLC lifted its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 77.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 235,597 shares of the company’s stock after buying an additional 102,729 shares during the period. Cerity Partners LLC owned approximately 0.20% of Builders FirstSource worth $45,673,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Forsta AP Fonden boosted its stake in Builders FirstSource by 12.1% during the 3rd quarter. Forsta AP Fonden now owns 26,800 shares of the company’s stock worth $5,195,000 after purchasing an additional 2,900 shares during the period. Cetera Investment Advisers boosted its stake in Builders FirstSource by 762.2% during the 1st quarter. Cetera Investment Advisers now owns 50,982 shares of the company’s stock worth $10,632,000 after purchasing an additional 45,069 shares during the period. Janus Henderson Group PLC boosted its stake in Builders FirstSource by 21.1% during the 1st quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock worth $4,173,000 after purchasing an additional 3,483 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Builders FirstSource by 18.6% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 115,995 shares of the company’s stock worth $16,055,000 after purchasing an additional 18,223 shares during the period. Finally, AMF Tjanstepension AB acquired a new stake in Builders FirstSource during the 3rd quarter worth $1,471,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Builders FirstSource Trading Up 1.5 %

Shares of BLDR stock opened at $178.52 on Friday. Builders FirstSource, Inc. has a fifty-two week low of $130.75 and a fifty-two week high of $214.70. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 0.83. The business has a fifty day simple moving average of $186.23 and a 200-day simple moving average of $167.82. The stock has a market cap of $20.54 billion, a P/E ratio of 17.43, a P/E/G ratio of 0.98 and a beta of 2.08.

Builders FirstSource (NYSE:BLDR) last announced 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 return on equity of 33.55% and a net margin of 7.40%. The business’s revenue was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.24 EPS. On average, analysts forecast that Builders FirstSource, Inc. will post 11.56 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Baird R W upgraded shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Stephens increased their price target on shares of Builders FirstSource from $178.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Jefferies Financial Group raised their target price on shares of Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Bank of America raised their target price 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. Finally, B. Riley reduced their target price on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $206.47.

Insider Buying and Selling

In related news, Director Cleveland A. Christophe sold 10,000 shares of Builders FirstSource stock in a transaction dated Thursday, November 7th. The stock was 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 in the company, valued at approximately $5,902,338.03. This trade represents a 23.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.