Truvestments Capital LLC Grows Position in Builders FirstSource, Inc. (NYSE:BLDR)

Truvestments Capital LLC raised its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 14.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,201 shares of the company’s stock after purchasing an additional 778 shares during the period. Truvestments Capital LLC’s holdings in Builders FirstSource were worth $1,202,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Baillie Gifford & Co. bought a new stake in shares of Builders FirstSource during the 3rd quarter valued at $267,132,000. Diamond Hill Capital Management Inc. bought a new stake in shares of Builders FirstSource during the third quarter valued at about $255,867,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Builders FirstSource by 339.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock worth $163,373,000 after buying an additional 911,990 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Builders FirstSource by 256,479.8% in the third quarter. Loomis Sayles & Co. L P now owns 661,976 shares of the company’s stock worth $128,331,000 after buying an additional 661,718 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Builders FirstSource by 109.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 904,600 shares of the company’s stock valued at $175,366,000 after acquiring an additional 473,238 shares during the period. Institutional investors own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

BLDR has been the topic of several recent analyst reports. DA Davidson increased their target price on shares of Builders FirstSource from $169.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Stifel Nicolaus lowered their price objective on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Robert W. Baird boosted their target price on Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group began coverage on Builders FirstSource in a report on Thursday, October 10th. They issued a “buy” rating and a $225.00 price target on the stock. Finally, Jefferies Financial Group lifted their price target on Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Five equities research 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 has a consensus rating of “Moderate Buy” and a consensus target price of $206.47.

Builders FirstSource Stock Performance

Builders FirstSource stock opened at $180.81 on Monday. The firm has a fifty day simple moving average of $186.23 and a two-hundred day simple moving average of $167.88. 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, Inc. has a twelve month low of $130.75 and a twelve month high of $214.70. The company has a market capitalization of $20.81 billion, a PE ratio of 17.43, a P/E/G ratio of 1.00 and a beta of 2.08.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings data on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.02). The company had revenue of $4.23 billion during 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 quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.24 EPS. Research analysts expect that Builders FirstSource, Inc. will post 11.56 EPS for the current year.

Builders FirstSource declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 33,083 shares in the company, valued at approximately $5,902,338.03. The trade was a 23.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

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.