Jag Capital Management LLC Invests $11.82 Million in Builders FirstSource, Inc. (NYSE:BLDR)

Jag Capital Management LLC purchased a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 60,944 shares of the company's stock, valued at approximately $11,815,000. Builders FirstSource comprises approximately 1.4% of Jag Capital Management LLC's holdings, making the stock its 27th largest position. Jag Capital Management LLC owned approximately 0.05% of Builders FirstSource as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Forsta AP Fonden raised its holdings in shares of Builders FirstSource by 12.1% in the third quarter. Forsta AP Fonden now owns 26,800 shares of the company's stock worth $5,195,000 after buying an additional 2,900 shares during the period. Cetera Investment Advisers raised its holdings in shares of Builders FirstSource by 762.2% in the first quarter. Cetera Investment Advisers now owns 50,982 shares of the company's stock worth $10,632,000 after buying an additional 45,069 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Builders FirstSource by 21.1% in the first quarter. Janus Henderson Group PLC now owns 20,013 shares of the company's stock worth $4,173,000 after buying an additional 3,483 shares during the period. Raymond James Financial Services Advisors Inc. raised 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 worth $16,055,000 after buying an additional 18,223 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in Builders FirstSource during the 1st quarter worth $3,448,000. 95.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. DA Davidson raised their price objective on Builders FirstSource from $169.00 to $175.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. B. Riley reduced their price objective on Builders FirstSource from $197.00 to $187.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. The Goldman Sachs Group assumed coverage on Builders FirstSource in a report on Thursday, October 10th. They set a "buy" rating and a $225.00 price objective on the stock. UBS Group assumed coverage on Builders FirstSource in a report on Friday, October 25th. They set a "buy" rating and a $232.00 price objective on the stock. Finally, Stifel Nicolaus cut their price target on Builders FirstSource from $217.00 to $195.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Builders FirstSource has an average rating of "Moderate Buy" and an average price target of $206.47.

Insider Buying and Selling

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 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 owns 33,083 shares of the company's stock, valued at $5,902,338.03. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by insiders.

Builders FirstSource Stock Performance

Shares of BLDR traded up $5.24 during mid-day trading on Monday, reaching $183.59. The company had a trading volume of 1,445,176 shares, compared to its average volume of 1,577,186. Builders FirstSource, Inc. has a 52-week low of $121.43 and a 52-week high of $214.70. The company has a quick ratio of 1.14, a current ratio of 1.77 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $21.13 billion, a P/E ratio of 17.93, a PEG ratio of 0.99 and a beta of 2.08. The stock has a 50 day moving average of $184.79 and a two-hundred day moving average of $168.26.

Builders FirstSource (NYSE:BLDR - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $3.07 EPS 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 analysts' expectations of $4.44 billion. During the same quarter in the previous year, the company earned $4.24 EPS. The firm's quarterly revenue was down 6.7% compared to the same quarter last year. On average, analysts expect that Builders FirstSource, Inc. will post 11.56 earnings per share for the current year.

Builders FirstSource declared that its Board of Directors has authorized a stock repurchase program 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 programs are typically a sign that the company's board believes its stock is undervalued.

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.