GAMMA Investing LLC Boosts Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

GAMMA Investing LLC lifted its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 20,946.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 243,508 shares of the company's stock after acquiring an additional 242,351 shares during the quarter. GAMMA Investing LLC owned approximately 0.21% of Builders FirstSource worth $30,424,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BLDR. Smartleaf Asset Management LLC grew its holdings in Builders FirstSource by 34.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 518 shares of the company's stock valued at $74,000 after buying an additional 134 shares in the last quarter. Mountain Lake Investment Management LLC grew its holdings in Builders FirstSource by 7.0% during the 4th quarter. Mountain Lake Investment Management LLC now owns 36,367 shares of the company's stock valued at $5,201,000 after buying an additional 2,367 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Builders FirstSource by 14.9% during the 4th quarter. Fisher Asset Management LLC now owns 196,491 shares of the company's stock valued at $28,084,000 after buying an additional 25,535 shares in the last quarter. Fiera Capital Corp purchased a new stake in Builders FirstSource during the 4th quarter valued at approximately $27,089,000. Finally, Lecap Asset Management Ltd. grew its holdings in Builders FirstSource by 82.6% during the 4th quarter. Lecap Asset Management Ltd. now owns 22,043 shares of the company's stock valued at $3,151,000 after buying an additional 9,970 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Paul S. Levy purchased 283,517 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were purchased at an average price of $111.21 per share, for a total transaction of $31,529,925.57. Following the completion of the purchase, the director now owns 1,672,687 shares in the company, valued at approximately $186,019,521.27. This represents a 20.41% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dirkson R. Charles purchased 5,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were purchased at an average price of $109.67 per share, for a total transaction of $548,350.00. Following the purchase, the director now owns 5,000 shares of the company's stock, valued at approximately $548,350. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 505,000 shares of company stock worth $56,032,120 over the last quarter. Company insiders own 2.00% of the company's stock.

Builders FirstSource Trading Up 0.5%

BLDR stock traded up $0.56 during midday trading on Thursday, reaching $113.29. The company's stock had a trading volume of 2,245,963 shares, compared to its average volume of 1,675,978. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.16 and a current ratio of 1.77. The stock has a fifty day simple moving average of $115.77 and a two-hundred day simple moving average of $140.10. Builders FirstSource, Inc. has a 1 year low of $102.60 and a 1 year high of $203.14. The firm has a market capitalization of $12.52 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 0.80 and a beta of 1.79.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its earnings results 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. Builders FirstSource had a return on equity of 30.54% and a net margin of 6.57%. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter last year, the firm posted $2.65 earnings per share. The business's revenue was down 6.0% compared to the same quarter last year. On average, equities research analysts predict that Builders FirstSource, Inc. will post 11.59 EPS for the current year.

Builders FirstSource declared that its board has initiated a stock repurchase plan on Thursday, May 1st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. UBS Group cut their price objective 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. Deutsche Bank Aktiengesellschaft assumed coverage on Builders FirstSource in a research report on Tuesday, April 1st. They set a "buy" rating and a $151.00 target price for the company. Barclays lowered their target price on Builders FirstSource from $151.00 to $137.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Royal Bank of Canada reiterated an "outperform" rating and set a $132.00 target price on shares of Builders FirstSource in a research report on Thursday, May 15th. Finally, Truist Financial lowered their target price on Builders FirstSource from $220.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Builders FirstSource presently has an average rating of "Moderate Buy" and an average 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.