Swedbank AB Acquires 7,774 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Swedbank AB lifted its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 20.6% during the 3rd quarter, Holdings Channel reports. The firm owned 45,465 shares of the company’s stock after acquiring an additional 7,774 shares during the period. Swedbank AB’s holdings in Builders FirstSource were worth $8,814,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Innealta Capital LLC bought a new stake in shares of Builders FirstSource in the 2nd quarter valued at about $27,000. Armstrong Advisory Group Inc. acquired a new position in Builders FirstSource during the third quarter valued at approximately $30,000. First Horizon Advisors Inc. increased its stake in Builders FirstSource by 42.1% in 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. New Millennium Group LLC acquired a new stake in Builders FirstSource in the second quarter worth $38,000. Finally, Reston Wealth Management LLC bought a new position in shares of Builders FirstSource during the third quarter worth $39,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Builders FirstSource Price Performance

Builders FirstSource stock opened at $185.77 on Wednesday. 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 one year low of $130.75 and a one year high of $214.70. The firm has a market cap of $21.38 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 1.00 and a beta of 2.08. The stock’s fifty day moving average price is $186.26 and its two-hundred day moving average price is $168.02.

Builders FirstSource (NYSE:BLDR) last released its earnings results 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 during the quarter, compared to the consensus estimate of $4.44 billion. Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The business’s revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.24 EPS. As a group, research analysts expect that Builders FirstSource, Inc. will post 11.56 EPS for the current fiscal year.

Builders FirstSource declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 6th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 5.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on BLDR shares. Jefferies Financial Group raised their price objective on Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Bank of America raised their price target on Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Stifel Nicolaus decreased their price objective on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. The Goldman Sachs Group assumed coverage on Builders FirstSource in a research note on Thursday, October 10th. They set a “buy” rating and a $225.00 target price for the company. Finally, B. Riley cut their price target on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Five equities 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. According to MarketBeat.com, Builders FirstSource has an average 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.