Daiwa Securities Group Inc. Purchases 3,001 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Daiwa Securities Group Inc. grew its position in Builders FirstSource, Inc. (NYSE:BLDR) by 14.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,938 shares of the company’s stock after acquiring an additional 3,001 shares during the period. Daiwa Securities Group Inc.’s holdings in Builders FirstSource were worth $4,641,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Forsta AP Fonden grew its holdings 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 acquiring an additional 2,900 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Builders FirstSource by 762.2% during the first quarter. Cetera Investment Advisers now owns 50,982 shares of the company’s stock valued at $10,632,000 after purchasing an additional 45,069 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Builders FirstSource by 21.1% during the first quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock valued at $4,173,000 after purchasing an additional 3,483 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Builders FirstSource by 18.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 115,995 shares of the company’s stock valued at $16,055,000 after purchasing an additional 18,223 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Builders FirstSource by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 785,842 shares of the company’s stock worth $152,343,000 after purchasing an additional 16,000 shares during the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BLDR shares. DA Davidson lifted their target price on Builders FirstSource from $169.00 to $175.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Benchmark lowered their price objective on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Robert W. Baird upped their target price on shares of Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Stifel Nicolaus lowered their price target on shares of 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, UBS Group initiated coverage on shares of Builders FirstSource in a report on Friday, October 25th. They issued a “buy” rating and a $232.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Builders FirstSource has an average rating of “Moderate Buy” and an average price target of $206.47.

Builders FirstSource Stock Performance

Shares of BLDR opened at $185.77 on Wednesday. The firm’s 50 day moving average price is $186.26 and its two-hundred day moving average price is $168.02. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.77. Builders FirstSource, Inc. has a twelve month low of $130.75 and a twelve month high of $214.70. The firm has a market cap of $21.38 billion, a P/E ratio of 18.14, a PEG ratio of 1.00 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 for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $4.44 billion. During the same period in the previous year, the company posted $4.24 earnings per share. Builders FirstSource’s revenue for the quarter was down 6.7% on a year-over-year basis. On average, analysts forecast that Builders FirstSource, Inc. will post 11.56 EPS for the current fiscal year.

Builders FirstSource declared that its board has authorized a stock buyback program on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Cleveland A. Christophe sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $178.41, for a total value 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 approximately $5,902,338.03. This trade represents 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 accessible through this hyperlink. 1.80% of the stock is owned by corporate insiders.

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.