Builders FirstSource, Inc. (NYSE:BLDR) Shares Acquired by Meeder Asset Management Inc.

Meeder Asset Management Inc. lifted its position in Builders FirstSource, Inc. (NYSE:BLDR) by 3,220.8% during the third quarter, HoldingsChannel.com reports. The fund owned 2,557 shares of the company’s stock after acquiring an additional 2,480 shares during the period. Meeder Asset Management Inc.’s holdings in Builders FirstSource were worth $496,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Baillie Gifford & Co. acquired a new stake in Builders FirstSource during the 3rd quarter worth $267,132,000. Boston Partners boosted its position in Builders FirstSource by 0.8% during the first quarter. Boston Partners now owns 1,377,335 shares of the company’s stock worth $285,794,000 after acquiring an additional 10,551 shares during the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in Builders FirstSource during the 3rd quarter valued at about $255,867,000. Massachusetts Financial Services Co. MA lifted its stake in Builders FirstSource by 339.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock worth $163,373,000 after purchasing an additional 911,990 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Builders FirstSource by 22.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock worth $147,059,000 after purchasing an additional 196,571 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Builders FirstSource

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 33,083 shares of the company’s stock, valued at approximately $5,902,338.03. This represents a 23.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.80% of the stock is owned by corporate insiders.

Builders FirstSource Price Performance

Shares of BLDR opened at $178.81 on Wednesday. The company has a market cap of $20.58 billion, a P/E ratio of 17.46, a PEG ratio of 0.98 and a beta of 2.08. 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 firm’s 50 day moving average price is $186.23 and its 200 day moving average price is $167.87.

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 analysts’ consensus estimates of $3.09 by ($0.02). The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The firm’s revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the company posted $4.24 EPS. On average, research analysts forecast that Builders FirstSource, Inc. will post 11.56 earnings per share for the current fiscal year.

Builders FirstSource declared that its board has approved a stock repurchase plan on Tuesday, August 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BLDR. Royal Bank of Canada lifted their price objective on Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Baird R W raised shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Loop Capital raised their price objective on shares of Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Benchmark decreased their target price on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Robert W. Baird raised their price target on shares of Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Builders FirstSource currently has an average rating of “Moderate Buy” and an average target price of $206.47.

Builders FirstSource Company 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.