iA Global Asset Management Inc. Has $7.48 Million Position in Builders FirstSource, Inc. (NYSE:BLDR)

iA Global Asset Management Inc. lifted its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 774.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,600 shares of the company's stock after acquiring an additional 34,188 shares during the period. iA Global Asset Management Inc.'s holdings in Builders FirstSource were worth $7,483,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Brooklyn Investment Group acquired a new position in shares of Builders FirstSource during the 3rd quarter worth approximately $28,000. Armstrong Advisory Group Inc. acquired a new stake in Builders FirstSource in the third quarter valued at $30,000. Innealta Capital LLC bought a new position in shares of Builders FirstSource in the 2nd quarter valued at about $27,000. Reston Wealth Management LLC acquired a new position in shares of Builders FirstSource during the 3rd quarter worth about $39,000. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of Builders FirstSource in the 3rd quarter valued at about $46,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 sale, the director now 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 filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BLDR shares. Oppenheimer reissued an "outperform" rating and set a $225.00 price target on shares of Builders FirstSource in a research report on Tuesday, October 29th. Wedbush restated an "outperform" rating and set a $230.00 target price on shares of Builders FirstSource in a research note on Wednesday, November 6th. StockNews.com raised shares of Builders FirstSource from a "hold" rating to a "buy" rating in a report on Wednesday. Truist Financial upgraded shares of Builders FirstSource from a "hold" rating to a "buy" rating and raised their price objective for the stock from $165.00 to $220.00 in a research report on Monday, September 16th. Finally, The Goldman Sachs Group began coverage on Builders FirstSource in a research report on Thursday, October 10th. They issued a "buy" rating and a $225.00 target price on the stock. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $210.00.

Builders FirstSource Price Performance

Shares of Builders FirstSource stock traded down $0.07 on Friday, reaching $175.82. 981,648 shares of the stock were exchanged, compared to its average volume of 1,085,057. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.77. The firm has a market cap of $20.23 billion, a PE ratio of 17.17, a P/E/G ratio of 0.99 and a beta of 2.06. The firm's 50 day moving average is $183.99 and its 200-day moving average is $168.90. Builders FirstSource, Inc. has a one year low of $130.75 and a one year high of $214.70.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released 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). Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter in the previous year, the company earned $4.24 earnings per share. The firm's revenue for the quarter was down 6.7% on a year-over-year basis. As a group, analysts anticipate that Builders FirstSource, Inc. will post 11.55 EPS for the current fiscal year.

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.