Meeder Asset Management Inc. Buys 2,480 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Meeder Asset Management Inc. grew its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 3,220.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,557 shares of the company’s stock after acquiring an additional 2,480 shares during the period. Meeder Asset Management Inc.’s holdings in Builders FirstSource were worth $496,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Innealta Capital LLC purchased a new position in Builders FirstSource during the 2nd quarter worth $27,000. Armstrong Advisory Group Inc. purchased a new stake in Builders FirstSource in the third quarter worth about $30,000. First Horizon Advisors Inc. grew its holdings in Builders FirstSource by 42.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after acquiring an additional 75 shares in the last quarter. New Millennium Group LLC bought a new stake in shares of Builders FirstSource in the 2nd quarter valued at about $38,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of Builders FirstSource in the 3rd quarter worth approximately $39,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Builders FirstSource Price Performance

NYSE:BLDR opened at $178.81 on Wednesday. The firm’s fifty day moving average is $186.23 and its two-hundred day moving average is $167.87. The firm has a market cap of $20.58 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 0.98 and a beta of 2.08. Builders FirstSource, Inc. has a one year low of $130.75 and a one year high of $214.70. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.77.

Builders FirstSource (NYSE:BLDR) last posted 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 company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.44 billion. Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The firm’s revenue was down 6.7% on a year-over-year basis. During the same period last year, the business earned $4.24 earnings per share. Research analysts expect that Builders FirstSource, Inc. will post 11.56 EPS for the current year.

Builders FirstSource declared that its board has authorized a share buyback program on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Stephens upped their target price on Builders FirstSource from $178.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Benchmark cut their target price on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Robert W. Baird raised their price target on shares of Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Royal Bank of Canada boosted their price objective on shares of Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, DA Davidson raised 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 research 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 stock. Based on data from MarketBeat, Builders FirstSource currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.47.

Insider Transactions at Builders FirstSource

In other news, Director Cleveland A. Christophe sold 10,000 shares of the 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 sale, the director now directly owns 33,083 shares of the company’s stock, valued at $5,902,338.03. This represents a 23.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.80% of the company’s stock.

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.