TD Asset Management Inc Buys 101,594 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

TD Asset Management Inc increased its holdings in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 243.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 143,268 shares of the company's stock after buying an additional 101,594 shares during the period. TD Asset Management Inc owned 0.13% of Builders FirstSource worth $17,900,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. IMA Advisory Services Inc. bought a new position in Builders FirstSource in the 1st quarter valued at $31,000. Sentry Investment Management LLC bought a new position in Builders FirstSource in the 1st quarter valued at $40,000. CX Institutional bought a new position in Builders FirstSource in the 1st quarter valued at $45,000. New Age Alpha Advisors LLC bought a new position in Builders FirstSource in the 4th quarter valued at $74,000. Finally, Mather Group LLC. boosted its holdings in Builders FirstSource by 19.7% in the 1st quarter. Mather Group LLC. now owns 595 shares of the company's stock valued at $74,000 after purchasing an additional 98 shares during the period. 95.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

BLDR has been the subject of several analyst reports. UBS Group cut their price target on shares of Builders FirstSource from $180.00 to $163.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Loop Capital dropped their price objective on shares of Builders FirstSource from $190.00 to $170.00 and set a "buy" rating for the company in a report on Monday, April 14th. Royal Bank Of Canada cut shares of Builders FirstSource from an "outperform" rating to a "sector perform" rating and decreased their target price for the stock from $132.00 to $129.00 in a research report on Friday. Zelman & Associates reiterated an "underperform" rating on shares of Builders FirstSource in a research report on Friday, July 18th. Finally, Wedbush decreased their target price on shares of Builders FirstSource from $190.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday, June 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $158.79.

Insider Activity

In other Builders FirstSource news, Director Dirkson R. Charles acquired 5,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were acquired at an average price of $109.67 per share, with a total value of $548,350.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company's stock, valued at approximately $548,350. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Paul S. Levy acquired 283,517 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average cost of $111.21 per share, for a total transaction of $31,529,925.57. Following the purchase, the director directly owned 1,672,687 shares of the company's stock, 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. Insiders have purchased 505,000 shares of company stock worth $56,032,120 in the last three months. 2.00% of the stock is currently owned by insiders.

Builders FirstSource Trading Up 2.4%

Shares of NYSE BLDR traded up $3.05 during midday trading on Friday, hitting $130.18. 3,999,587 shares of the company traded hands, compared to its average volume of 1,956,988. Builders FirstSource, Inc. has a 12-month low of $102.60 and a 12-month high of $203.14. 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 stock has a 50-day moving average price of $120.07 and a 200 day moving average price of $129.26. The firm has a market cap of $14.39 billion, a P/E ratio of 16.69, a P/E/G ratio of 11.53 and a beta of 1.69.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.03. Builders FirstSource had a net margin of 5.66% and a return on equity of 28.02%. The company had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter in the previous year, the company earned $3.50 earnings per share. Builders FirstSource's quarterly revenue was down 5.0% on a year-over-year basis. As a group, analysts expect that Builders FirstSource, Inc. will post 11.59 earnings per share for the current year.

Builders FirstSource declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Builders FirstSource Company 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.