Diamond Hill Capital Management Inc. Makes New $255.87 Million Investment in Builders FirstSource, Inc. (NYSE:BLDR)

Diamond Hill Capital Management Inc. bought a new stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,319,856 shares of the company's stock, valued at approximately $255,867,000. Diamond Hill Capital Management Inc. owned approximately 1.13% of Builders FirstSource as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Innealta Capital LLC purchased a new stake in shares of Builders FirstSource in the second quarter valued at about $27,000. Armstrong Advisory Group Inc. purchased a new stake in Builders FirstSource during the third quarter worth about $30,000. First Horizon Advisors Inc. boosted its holdings in Builders FirstSource by 42.1% during the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company's stock worth $35,000 after buying an additional 75 shares in the last quarter. New Millennium Group LLC purchased a new stake in Builders FirstSource during the second quarter worth about $38,000. Finally, Reston Wealth Management LLC purchased a new stake in Builders FirstSource during the third quarter worth about $39,000. Hedge funds and other institutional investors own 95.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Wedbush reissued an "outperform" rating and set a $230.00 price objective on shares of Builders FirstSource in a report on Wednesday, November 6th. Truist Financial raised shares of Builders FirstSource from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $165.00 to $220.00 in a report on Monday, September 16th. StockNews.com downgraded shares of Builders FirstSource from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. The Goldman Sachs Group started coverage on shares of Builders FirstSource in a report on Thursday, October 10th. They set a "buy" rating and a $225.00 price objective on the stock. Finally, Royal Bank of Canada lifted their target price on shares of Builders FirstSource from $178.00 to $187.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $206.47.

Builders FirstSource Trading Up 1.3 %

BLDR stock traded up $2.35 on Monday, hitting $180.70. 392,960 shares of the company were exchanged, compared to its average volume of 1,572,359. Builders FirstSource, Inc. has a twelve month low of $121.43 and a twelve month high of $214.70. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.77 and a quick ratio of 1.14. The business's fifty day moving average is $184.79 and its two-hundred day moving average is $168.26. The stock has a market capitalization of $20.79 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 10.48 and a beta of 2.08.

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 analyst estimates of $4.44 billion. During the same period last year, the company posted $4.24 EPS. The business's revenue for the quarter was down 6.7% on a year-over-year basis. As a group, research analysts forecast that Builders FirstSource, Inc. will post 11.64 earnings per share for the current year.

Builders FirstSource declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits 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 management believes its shares are undervalued.

Insiders Place Their Bets

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the completion of the sale, the director now directly owns 33,083 shares in the company, valued at $5,902,338.03. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is 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.