Ameriprise Financial Inc. Buys 212,394 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Ameriprise Financial Inc. lifted its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 58.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 578,115 shares of the company's stock after purchasing an additional 212,394 shares during the period. Ameriprise Financial Inc. owned 0.50% of Builders FirstSource worth $82,618,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Builders FirstSource in the 4th quarter valued at about $33,000. SBI Securities Co. Ltd. bought a new stake in shares of Builders FirstSource during the fourth quarter valued at approximately $34,000. Avion Wealth raised its position in shares of Builders FirstSource by 728.6% during the fourth quarter. Avion Wealth now owns 348 shares of the company's stock worth $49,000 after purchasing an additional 306 shares during the period. Mather Group LLC. lifted its holdings in shares of Builders FirstSource by 91.2% in the 4th quarter. Mather Group LLC. now owns 497 shares of the company's stock worth $71,000 after purchasing an additional 237 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Builders FirstSource by 34.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 518 shares of the company's stock valued at $74,000 after purchasing an additional 134 shares during the period. Institutional investors and hedge funds own 95.53% of the company's stock.

Builders FirstSource Stock Performance

Shares of NYSE BLDR traded down $0.38 during midday trading on Friday, hitting $110.69. The company's stock had a trading volume of 1,629,735 shares, compared to its average volume of 1,667,745. The stock has a fifty day moving average price of $122.03 and a 200 day moving average price of $148.18. The firm has a market capitalization of $12.23 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 0.80 and a beta of 1.79. Builders FirstSource, Inc. has a one year low of $103.81 and a one year high of $203.14. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.86.

Builders FirstSource (NYSE:BLDR - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.01. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.67 billion. Builders FirstSource had a return on equity of 30.54% and a net margin of 6.57%. The business's quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.65 earnings per share. On average, research analysts forecast that Builders FirstSource, Inc. will post 11.59 EPS for the current fiscal year.

Builders FirstSource declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 1st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of Builders FirstSource from $162.00 to $132.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Stephens lowered their price objective on Builders FirstSource from $145.00 to $140.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Loop Capital decreased their price target on Builders FirstSource from $190.00 to $170.00 and set a "buy" rating for the company in a report on Monday, April 14th. Raymond James restated an "outperform" rating and set a $140.00 price objective (down from $170.00) on shares of Builders FirstSource in a research note on Friday, May 2nd. Finally, Truist Financial lowered their target price on shares of Builders FirstSource from $220.00 to $180.00 and set a "buy" rating for the company in a report on Friday, February 21st. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $167.58.

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.