Baillie Gifford & Co. Buys New Shares in Builders FirstSource, Inc. (NYSE:BLDR)

Baillie Gifford & Co. purchased a new position in Builders FirstSource, Inc. (NYSE:BLDR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,377,962 shares of the company’s stock, valued at approximately $267,132,000. Baillie Gifford & Co. owned about 1.18% of Builders FirstSource as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BLDR. Forsta AP Fonden boosted its holdings in Builders FirstSource by 12.1% during the 3rd quarter. Forsta AP Fonden now owns 26,800 shares of the company’s stock valued at $5,195,000 after acquiring an additional 2,900 shares during the period. Cetera Investment Advisers grew its holdings in shares of Builders FirstSource by 762.2% in the first quarter. Cetera Investment Advisers now owns 50,982 shares of the company’s stock worth $10,632,000 after purchasing an additional 45,069 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Builders FirstSource by 21.1% in the first quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock worth $4,173,000 after buying an additional 3,483 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Builders FirstSource by 18.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 115,995 shares of the company’s stock worth $16,055,000 after buying an additional 18,223 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in Builders FirstSource during the 1st quarter valued at $3,448,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Builders FirstSource Stock Up 2.9 %

BLDR stock opened at $183.59 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.77 and a debt-to-equity ratio of 0.83. The business has a 50 day moving average of $184.98 and a 200 day moving average of $168.25. Builders FirstSource, Inc. has a twelve month low of $121.43 and a twelve month high of $214.70. The firm has a market cap of $21.13 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 0.99 and a beta of 2.08.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share (EPS) 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 company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same period in the prior year, the firm earned $4.24 EPS. Builders FirstSource’s revenue for the quarter was down 6.7% compared to the same quarter last year. On average, research analysts forecast that Builders FirstSource, Inc. will post 11.56 EPS for the current fiscal year.

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

Insider Transactions at Builders FirstSource

In related 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 transaction of $1,784,100.00. Following the completion of the sale, the director now owns 33,083 shares of the company’s stock, valued at $5,902,338.03. This trade represents a 0.00 % 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. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BLDR. Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and boosted their price objective for the company from $165.00 to $220.00 in a research report on Monday, September 16th. Baird R W upgraded Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. UBS Group assumed coverage on Builders FirstSource in a report on Friday, October 25th. They issued a “buy” rating and a $232.00 price objective for the company. Loop Capital lifted their price objective on Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Finally, Jefferies Financial Group upped their target price on Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.