Builders FirstSource, Inc. (NYSE:BLDR) Stake Raised by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 14.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,938 shares of the company's stock after acquiring an additional 3,001 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Builders FirstSource were worth $4,641,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Forsta AP Fonden lifted its position 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 valued at $5,195,000 after acquiring an additional 2,900 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Builders FirstSource by 762.2% in the 1st quarter. Cetera Investment Advisers now owns 50,982 shares of the company's stock valued at $10,632,000 after acquiring an additional 45,069 shares during the period. Janus Henderson Group PLC lifted its stake in Builders FirstSource by 21.1% during the first quarter. Janus Henderson Group PLC now owns 20,013 shares of the company's stock worth $4,173,000 after purchasing an additional 3,483 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Builders FirstSource by 18.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 115,995 shares of the company's stock worth $16,055,000 after purchasing an additional 18,223 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Builders FirstSource by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 785,842 shares of the company's stock worth $152,343,000 after buying an additional 16,000 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Cleveland A. Christophe sold 10,000 shares of Builders FirstSource 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 completion of the transaction, the director now directly owns 33,083 shares of the company's stock, valued at approximately $5,902,338.03. The trade was a 23.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on BLDR. Truist Financial raised Builders FirstSource from a "hold" rating to a "buy" rating and lifted their price target for the stock from $165.00 to $220.00 in a report on Monday, September 16th. UBS Group initiated coverage on shares of Builders FirstSource in a research note on Friday, October 25th. They set a "buy" rating and a $232.00 target price for the company. Loop Capital upped 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. The Goldman Sachs Group assumed coverage on Builders FirstSource in a report on Thursday, October 10th. They issued a "buy" rating and a $225.00 price objective on the stock. Finally, DA Davidson increased their target price on Builders FirstSource from $169.00 to $175.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 6th. Five equities research 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 company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $206.47.

Builders FirstSource Price Performance

BLDR stock opened at $185.77 on Wednesday. The stock's 50 day moving average is $186.26 and its two-hundred day moving average is $168.02. Builders FirstSource, Inc. has a 52-week low of $130.75 and a 52-week high of $214.70. The company has a market capitalization of $21.38 billion, a PE ratio of 18.14, a P/E/G ratio of 1.06 and a beta of 2.08. 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 (NYSE:BLDR - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.44 billion. During the same period in the previous year, the business posted $4.24 EPS. The business's revenue for the quarter was down 6.7% on a year-over-year basis. Analysts predict that Builders FirstSource, Inc. will post 11.56 earnings per share for the current fiscal 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 repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

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.