Builders FirstSource, Inc. (NYSE:BLDR) Shares Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd raised its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 410.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,492 shares of the company's stock after purchasing an additional 4,417 shares during the period. Harvest Fund Management Co. Ltd's holdings in Builders FirstSource were worth $1,065,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in BLDR. Innealta Capital LLC bought a new position in shares of Builders FirstSource during the 2nd quarter valued at about $27,000. Armstrong Advisory Group Inc. bought a new position in shares of Builders FirstSource during the 3rd quarter valued at about $30,000. First Horizon Advisors Inc. boosted its holdings 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 purchasing an additional 75 shares during the last quarter. New Millennium Group LLC purchased a new stake in shares of Builders FirstSource during the 2nd quarter valued at about $38,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of Builders FirstSource during the 3rd quarter valued at about $39,000. Institutional investors own 95.53% of the company's stock.

Insider Buying and Selling at Builders FirstSource

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the firm'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 value 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. 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 is available at the SEC website. 1.80% of the stock is owned by insiders.

Builders FirstSource Stock Down 1.7 %

Shares of NYSE BLDR traded down $3.26 during midday trading on Tuesday, reaching $185.77. 1,149,680 shares of the company's stock traded hands, compared to its average volume of 1,559,718. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 0.83. The stock's 50 day simple moving average is $186.26 and its 200-day simple moving average is $168.02. Builders FirstSource, Inc. has a one year low of $130.75 and a one year high of $214.70. The company has a market cap of $21.38 billion, a price-to-earnings ratio of 18.03, a P/E/G ratio of 1.00 and a beta of 2.08.

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. On average, analysts predict that Builders FirstSource, Inc. will post 11.56 EPS for the current fiscal year.

Builders FirstSource announced that its board has approved a stock buyback program on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BLDR. StockNews.com cut shares of Builders FirstSource from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th. Truist Financial raised shares of Builders FirstSource from a "hold" rating to a "buy" rating and increased their price objective for the stock from $165.00 to $220.00 in a research report on Monday, September 16th. Barclays increased their price objective on shares of Builders FirstSource from $182.00 to $211.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 9th. DA Davidson raised their target price on shares of Builders FirstSource from $169.00 to $175.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. Finally, Benchmark reduced their target price on shares of Builders FirstSource from $220.00 to $200.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $206.47.

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.