Bridges Investment Management Inc. Increases Position in Builders FirstSource, Inc. (NYSE:BLDR)

Bridges Investment Management Inc. grew its holdings in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 111.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,512 shares of the company's stock after buying an additional 6,591 shares during the quarter. Bridges Investment Management Inc.'s holdings in Builders FirstSource were worth $1,563,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC grew its holdings in shares of Builders FirstSource by 7.3% in the fourth quarter. FMR LLC now owns 10,898,366 shares of the company's stock valued at $1,557,703,000 after purchasing an additional 740,214 shares during the period. Invesco Ltd. grew its position in Builders FirstSource by 1.2% in the fourth quarter. Invesco Ltd. now owns 2,253,588 shares of the company's stock worth $322,105,000 after acquiring an additional 26,314 shares during the period. Dimensional Fund Advisors LP grew its position in Builders FirstSource by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,237,996 shares of the company's stock worth $319,898,000 after acquiring an additional 77,666 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in shares of Builders FirstSource by 47.2% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,943,439 shares of the company's stock worth $277,776,000 after purchasing an additional 623,583 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in Builders FirstSource by 8.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,578,655 shares of the company's stock worth $225,637,000 after buying an additional 120,400 shares during the period. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Builders FirstSource Stock Performance

Shares of BLDR opened at $133.36 on Thursday. The company's 50 day simple moving average is $114.88 and its 200 day simple moving average is $130.89. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.07 and a current ratio of 1.82. The company has a market capitalization of $14.74 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 8.10 and a beta of 1.69. Builders FirstSource, Inc. has a 1 year low of $102.60 and a 1 year high of $203.14.

Builders FirstSource (NYSE:BLDR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.01. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.67 billion. Builders FirstSource had a net margin of 5.66% and a return on equity of 28.02%. The company's quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.65 EPS. On average, sell-side analysts predict that Builders FirstSource, Inc. will post 11.59 EPS for the current year.

Builders FirstSource declared that its Board of Directors has initiated 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 buy up to 3.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

BLDR has been the subject of several recent research reports. Raymond James Financial reissued an "outperform" rating and issued a $140.00 price objective (down previously from $170.00) on shares of Builders FirstSource in a research note on Friday, May 2nd. Wedbush decreased their target price on Builders FirstSource from $190.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, June 20th. Stephens decreased their target price on Builders FirstSource from $145.00 to $140.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Stifel Nicolaus lowered their price objective on Builders FirstSource from $125.00 to $118.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Finally, UBS Group lowered their price objective on Builders FirstSource from $180.00 to $163.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Builders FirstSource has an average rating of "Moderate Buy" and an average price target of $163.11.

Insider Buying and Selling at Builders FirstSource

In other news, Director Dirkson R. Charles purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was acquired at an average cost of $109.67 per share, with a total value of $548,350.00. Following the acquisition, the director owned 5,000 shares in the company, valued at approximately $548,350. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul S. Levy acquired 283,517 shares of the stock in a transaction on Thursday, May 8th. The shares were acquired at an average price of $111.21 per share, with a total value of $31,529,925.57. Following the purchase, the director owned 1,672,687 shares in the company, valued at $186,019,521.27. This represents a 20.41% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 505,000 shares of company stock valued at $56,032,120. 2.00% of the stock is owned by insiders.

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.

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