Dai ichi Life Insurance Company Ltd Invests $775,000 in Builders FirstSource, Inc. (NYSE:BLDR)

Dai ichi Life Insurance Company Ltd acquired a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 3,998 shares of the company’s stock, valued at approximately $775,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. bought a new position in Builders FirstSource in the third quarter valued at about $30,000. Innealta Capital LLC purchased a new position in shares of Builders FirstSource in the second quarter worth approximately $27,000. Reston Wealth Management LLC purchased a new stake in Builders FirstSource during the third quarter valued at approximately $39,000. Brown Brothers Harriman & Co. bought a new position in Builders FirstSource in the 3rd quarter worth $46,000. Finally, First Horizon Advisors Inc. lifted its position in Builders FirstSource by 42.1% during the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Builders FirstSource Price Performance

BLDR stock opened at $184.75 on Friday. The company has a 50-day moving average price of $185.90 and a 200 day moving average price of $168.27. Builders FirstSource, Inc. has a 12 month low of $130.75 and a 12 month high of $214.70. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. The stock has a market cap of $21.26 billion, a PE ratio of 18.04, a P/E/G ratio of 1.06 and a beta of 2.08.

Builders FirstSource (NYSE:BLDR) last issued its earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same period last year, the firm earned $4.24 earnings per share. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. Equities research analysts anticipate that Builders FirstSource, Inc. will post 11.56 earnings per share for the current year.

Builders FirstSource announced that its board has authorized a share 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 generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related 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 value of $1,784,100.00. Following the completion of the transaction, the director now owns 33,083 shares of the company’s stock, valued at $5,902,338.03. The trade was a 23.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BLDR. Stephens boosted their price objective on Builders FirstSource from $178.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Wedbush reiterated an “outperform” rating and issued a $230.00 price target on shares of Builders FirstSource in a research report on Wednesday, November 6th. Stifel Nicolaus decreased their price objective on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. The Goldman Sachs Group assumed coverage on Builders FirstSource in a report on Thursday, October 10th. They set a “buy” rating and a $225.00 price target on the stock. Finally, Baird R W raised Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Builders FirstSource presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.47.

About Builders FirstSource

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.