Concentric Capital Strategies LP Invests $1.99 Million in Builders FirstSource, Inc. (NYSE:BLDR)

Concentric Capital Strategies LP bought a new stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 13,923 shares of the company's stock, valued at approximately $1,990,000.

Several other large investors have also recently made changes to their positions in BLDR. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Builders FirstSource during the fourth quarter worth $33,000. SBI Securities Co. Ltd. acquired a new stake in shares of Builders FirstSource in the 4th quarter worth $34,000. Avion Wealth increased its stake in shares of Builders FirstSource by 728.6% in the 4th quarter. Avion Wealth now owns 348 shares of the company's stock worth $49,000 after acquiring an additional 306 shares during the last quarter. Mather Group LLC. increased its stake 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 acquiring an additional 237 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of Builders FirstSource by 34.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 518 shares of the company's stock worth $74,000 after acquiring an additional 134 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BLDR shares. Deutsche Bank Aktiengesellschaft started coverage on Builders FirstSource in a research note on Tuesday, April 1st. They issued a "buy" rating and a $151.00 target price for the company. Barclays reduced their price objective on shares of Builders FirstSource from $151.00 to $137.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. StockNews.com lowered shares of Builders FirstSource from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Raymond James reaffirmed an "outperform" rating and set a $140.00 target price (down previously from $170.00) on shares of Builders FirstSource in a research note on Friday, May 2nd. Finally, BMO Capital Markets lowered their target price on shares of Builders FirstSource from $146.00 to $135.00 and set a "market perform" rating for the company in a research note on Monday, May 5th. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $167.58.

Builders FirstSource Stock Performance

Shares of Builders FirstSource stock traded up $6.68 during trading hours on Tuesday, hitting $124.67. 2,259,818 shares of the company were exchanged, compared to its average volume of 1,674,618. Builders FirstSource, Inc. has a 1 year low of $103.81 and a 1 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. The business has a 50-day moving average of $121.71 and a 200-day moving average of $147.74. The stock has a market capitalization of $13.78 billion, a price-to-earnings ratio of 13.76, a P/E/G ratio of 0.80 and a beta of 1.79.

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

Builders FirstSource announced that its Board of Directors has approved a stock repurchase program on Thursday, May 1st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

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.