PCJ Investment Counsel Ltd. Purchases New Stake in Builders FirstSource, Inc. (NYSE:BLDR)

PCJ Investment Counsel Ltd. bought a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,000 shares of the company's stock, valued at approximately $969,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new position in Builders FirstSource in the first quarter valued at about $3,448,000. UniSuper Management Pty Ltd raised its position in shares of Builders FirstSource by 328.4% during the first quarter. UniSuper Management Pty Ltd now owns 6,212 shares of the company's stock valued at $1,296,000 after buying an additional 4,762 shares during the last quarter. Burns Matteson Capital Management LLC bought a new stake in Builders FirstSource during the first quarter worth about $220,000. Shell Asset Management Co. raised its holdings in Builders FirstSource by 103.9% in the first quarter. Shell Asset Management Co. now owns 3,595 shares of the company's stock worth $750,000 after purchasing an additional 1,832 shares during the period. Finally, Delap Wealth Advisory LLC acquired a new stake in shares of Builders FirstSource during the first quarter worth $238,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Cleveland A. Christophe sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $178.41, for a total value of $1,784,100.00. Following the sale, the director now directly owns 33,083 shares of the company's stock, valued at $5,902,338.03. The trade was a 23.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada lifted their price target on shares of Builders FirstSource from $178.00 to $187.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. Stephens lifted their target price on shares of Builders FirstSource from $178.00 to $200.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. Oppenheimer reiterated an "outperform" rating and set a $225.00 target price on shares of Builders FirstSource in a research report on Tuesday, October 29th. Baird R W raised shares of Builders FirstSource from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 7th. Finally, DA Davidson upped their target price on shares of Builders FirstSource from $169.00 to $175.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $206.47.

Builders FirstSource Price Performance

Shares of Builders FirstSource stock traded down $5.92 during trading on Wednesday, hitting $172.89. The stock had a trading volume of 676,598 shares, compared to its average volume of 1,559,464. The business has a fifty day moving average of $186.23 and a two-hundred day moving average of $167.87. The firm has a market cap of $19.90 billion, a P/E ratio of 17.13, a PEG ratio of 0.98 and a beta of 2.08. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.77 and a quick ratio of 1.16. Builders FirstSource, Inc. has a fifty-two week low of $130.75 and a fifty-two week 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 EPS 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%. The firm's quarterly revenue was down 6.7% on a year-over-year basis. During the same period last year, the business posted $4.24 earnings per share. On average, sell-side analysts expect that Builders FirstSource, Inc. will post 11.56 earnings per share for the current fiscal year.

Builders FirstSource declared that its board has authorized a stock repurchase plan on Tuesday, August 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors 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.