Bamco Inc. NY Invests $36.34 Million in Builders FirstSource, Inc. (NYSE:BLDR)

Bamco Inc. NY bought a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 187,444 shares of the company's stock, valued at approximately $36,338,000. Bamco Inc. NY owned about 0.16% of Builders FirstSource at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Innealta Capital LLC purchased a new position in Builders FirstSource in the second quarter worth about $27,000. Brooklyn Investment Group bought a new position in Builders FirstSource in the third quarter worth approximately $28,000. Armstrong Advisory Group Inc. purchased a new position in shares of Builders FirstSource during the 3rd quarter worth $30,000. First Horizon Advisors Inc. grew its position in shares of Builders FirstSource by 42.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company's stock valued at $35,000 after acquiring an additional 75 shares during the period. Finally, New Millennium Group LLC purchased a new position in Builders FirstSource during the second quarter valued at $38,000. Institutional investors own 95.53% of the company's stock.

Analyst Ratings Changes

BLDR has been the topic of a number of analyst reports. Loop Capital lifted their price objective on Builders FirstSource from $190.00 to $230.00 and gave the company a "buy" rating in a research report on Friday, September 20th. Wedbush restated an "outperform" rating and set a $230.00 price objective on shares of Builders FirstSource in a research report on Wednesday, November 6th. Oppenheimer reaffirmed an "outperform" rating and issued a $225.00 target price on shares of Builders FirstSource in a report on Tuesday, October 29th. Baird R W raised Builders FirstSource from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 7th. Finally, Stifel Nicolaus dropped their price objective on Builders FirstSource from $217.00 to $195.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $206.47.

Builders FirstSource Stock Down 0.6 %

Shares of BLDR stock traded down $1.02 during mid-day trading on Tuesday, hitting $183.80. 171,534 shares of the stock traded hands, compared to its average volume of 1,541,396. Builders FirstSource, Inc. has a 52-week low of $130.75 and a 52-week high of $214.70. The stock has a market cap of $21.15 billion, a P/E ratio of 18.03, a P/E/G ratio of 1.04 and a beta of 2.06. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.77 and a quick ratio of 1.16. The stock's fifty day moving average is $185.11 and its two-hundred day moving average is $168.62.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its earnings results 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). The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.44 billion. Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. Builders FirstSource's revenue was down 6.7% on a year-over-year basis. During the same quarter last year, the business earned $4.24 earnings per share. Equities analysts predict that Builders FirstSource, Inc. will post 11.56 EPS for the current year.

Builders FirstSource announced that its board has initiated a share repurchase plan on Tuesday, August 6th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Cleveland A. Christophe sold 10,000 shares of Builders FirstSource stock in a transaction that occurred on 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 transaction, the director now directly owns 33,083 shares in the company, valued at approximately $5,902,338.03. This trade represents a 23.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by insiders.

Builders FirstSource 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.