Exchange Traded Concepts LLC Acquires 3,278 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Exchange Traded Concepts LLC increased its holdings in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 29.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,500 shares of the company's stock after purchasing an additional 3,278 shares during the period. Exchange Traded Concepts LLC's holdings in Builders FirstSource were worth $1,812,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Hennessy Advisors Inc. increased its position in Builders FirstSource by 10.1% during the first quarter. Hennessy Advisors Inc. now owns 16,400 shares of the company's stock valued at $2,049,000 after acquiring an additional 1,500 shares during the last quarter. Tran Capital Management L.P. increased its position in Builders FirstSource by 171.3% during the first quarter. Tran Capital Management L.P. now owns 145,719 shares of the company's stock valued at $18,206,000 after acquiring an additional 92,004 shares during the last quarter. Fifth Third Bancorp increased its position in Builders FirstSource by 14.4% during the first quarter. Fifth Third Bancorp now owns 1,733 shares of the company's stock valued at $217,000 after acquiring an additional 218 shares during the last quarter. CX Institutional bought a new position in Builders FirstSource during the first quarter valued at $45,000. Finally, SG Americas Securities LLC increased its position in Builders FirstSource by 248.8% during the first quarter. SG Americas Securities LLC now owns 15,520 shares of the company's stock valued at $1,939,000 after acquiring an additional 11,070 shares during the last quarter. Institutional investors own 95.53% of the company's stock.

Insiders Place Their Bets

In other news, Director Dirkson R. Charles bought 5,000 shares of Builders FirstSource stock in a transaction on Tuesday, May 27th. The stock was acquired at an average cost of $109.67 per share, for a total transaction of $548,350.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company's stock, valued at $548,350. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul S. Levy bought 283,517 shares of Builders FirstSource stock in a transaction on Thursday, May 8th. The stock was purchased at an average price of $111.21 per share, with a total value of $31,529,925.57. Following the completion of the acquisition, the director now directly owns 1,672,687 shares of the company's stock, valued at $186,019,521.27. This represents a 20.41% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 505,000 shares of company stock worth $56,032,120. 1.80% of the stock is owned by corporate insiders.

Builders FirstSource Stock Down 3.4%

NYSE:BLDR opened at $107.96 on Wednesday. Builders FirstSource, Inc. has a 1-year low of $102.60 and a 1-year high of $203.14. The company has a 50-day moving average of $114.38 and a 200 day moving average of $135.95. The firm has a market cap of $11.93 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 7.11 and a beta of 1.69. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.82 and a quick ratio of 1.07.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.01. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.67 billion. Builders FirstSource had a net margin of 5.66% and a return on equity of 28.02%. The firm's revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.65 earnings per share. As a group, research analysts anticipate that Builders FirstSource, Inc. will post 11.59 EPS for the current fiscal year.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on BLDR shares. Raymond James Financial reiterated an "outperform" rating and set a $140.00 price objective (down previously from $170.00) on shares of Builders FirstSource in a research report on Friday, May 2nd. Stephens cut their price objective on shares of Builders FirstSource from $145.00 to $140.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Barclays cut their price objective on shares of Builders FirstSource from $151.00 to $137.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Loop Capital lowered their target price on shares of Builders FirstSource from $190.00 to $170.00 and set a "buy" rating for the company in a research note on Monday, April 14th. 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 research note on Friday, February 21st. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $167.58.

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.

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