Fred Alger Management LLC Acquires New Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Fred Alger Management LLC acquired a new stake in Builders FirstSource, Inc. (NYSE:BLDR) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 265,740 shares of the company’s stock, valued at approximately $51,516,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BLDR. Advisors Asset Management Inc. lifted its stake in Builders FirstSource by 32.0% in the 1st quarter. Advisors Asset Management Inc. now owns 2,046 shares of the company’s stock valued at $427,000 after purchasing an additional 496 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Builders FirstSource by 21.1% in the 1st quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock valued at $4,173,000 after purchasing an additional 3,483 shares during the last quarter. Swedbank AB bought a new position in Builders FirstSource in the 1st quarter valued at approximately $7,860,000. Atria Investments Inc lifted its stake in Builders FirstSource by 39.1% in the 1st quarter. Atria Investments Inc now owns 9,781 shares of the company’s stock valued at $2,040,000 after purchasing an additional 2,750 shares during the last quarter. Finally, Cetera Investment Advisers lifted its stake in Builders FirstSource by 762.2% in the 1st quarter. Cetera Investment Advisers now owns 50,982 shares of the company’s stock valued at $10,632,000 after purchasing an additional 45,069 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

Builders FirstSource Stock Down 0.6 %

Shares of NYSE BLDR opened at $184.75 on Friday. The stock has a market capitalization of $21.26 billion, a P/E ratio of 18.04, a P/E/G ratio of 1.03 and a beta of 2.08. The company has a 50-day moving average price of $185.56 and a 200-day moving average price of $168.39. Builders FirstSource, Inc. has a 1 year low of $130.75 and a 1 year 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 1.16.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $3.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). The business had revenue of $4.23 billion for 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.24 earnings per share. On average, equities research analysts forecast that Builders FirstSource, Inc. will post 11.56 EPS for the current fiscal year.

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

Insider Activity

In related news, Director Cleveland A. Christophe sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 33,083 shares of the company’s stock, valued at $5,902,338.03. This trade represents a 23.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. UBS Group assumed coverage on shares of Builders FirstSource in a research note on Friday, October 25th. They set a “buy” rating and a $232.00 price target for the company. Wedbush reaffirmed an “outperform” rating and set a $230.00 price target on shares of Builders FirstSource in a research note on Wednesday, November 6th. The Goldman Sachs Group assumed coverage on shares of Builders FirstSource in a research note on Thursday, October 10th. They set a “buy” rating and a $225.00 price target for the company. Jefferies Financial Group raised their price target on shares of Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Loop Capital raised their price target on shares of Builders FirstSource from $190.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, September 20th. 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 company. Based on data from MarketBeat, Builders FirstSource currently has an average rating of “Moderate Buy” and a consensus target price of $206.47.

Builders FirstSource Company 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.