Harmony Asset Management LLC Purchases Shares of 6,350 Builders FirstSource, Inc. (NYSE:BLDR)

Harmony Asset Management LLC purchased a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,350 shares of the company's stock, valued at approximately $793,000.

Several other hedge funds have also modified their holdings of the company. FMR LLC raised its position in shares of Builders FirstSource by 7.3% in the 4th 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 last quarter. Invesco Ltd. raised its position in shares of Builders FirstSource by 1.2% in the 4th quarter. Invesco Ltd. now owns 2,253,588 shares of the company's stock valued at $322,105,000 after purchasing an additional 26,314 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Builders FirstSource by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,237,996 shares of the company's stock valued at $319,898,000 after purchasing an additional 77,666 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Builders FirstSource by 47.2% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,943,439 shares of the company's stock valued at $277,776,000 after purchasing an additional 623,583 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Builders FirstSource by 8.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,578,655 shares of the company's stock valued at $225,637,000 after purchasing an additional 120,400 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Builders FirstSource in a research report on Tuesday, April 1st. They set a "buy" rating and a $151.00 price target for the company. BMO Capital Markets reduced their price target on shares of Builders FirstSource from $146.00 to $135.00 and set a "market perform" rating for the company in a research report on Monday, May 5th. Barclays reduced their price target on shares of Builders FirstSource from $151.00 to $137.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Loop Capital reduced their price target on shares of Builders FirstSource from $190.00 to $170.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Wedbush reduced their price target on shares of Builders FirstSource from $190.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday, June 20th. Five research 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $159.42.

Insider Buying and Selling at Builders FirstSource

In related news, Director Paul S. Levy purchased 283,517 shares of Builders FirstSource stock in a transaction dated Thursday, May 8th. The shares were acquired at an average price of $111.21 per share, for a total transaction of $31,529,925.57. Following the acquisition, the director directly owned 1,672,687 shares in the company, valued at approximately $186,019,521.27. The trade was a 20.41% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dirkson R. Charles purchased 5,000 shares of Builders FirstSource stock in a transaction dated Tuesday, May 27th. The shares were bought at an average price of $109.67 per share, for a total transaction 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 disclosure for this purchase can be found here. In the last quarter, insiders have bought 505,000 shares of company stock worth $56,032,120. Insiders own 2.00% of the company's stock.

Builders FirstSource Trading Down 1.3%

Shares of BLDR stock opened at $133.39 on Friday. The stock's fifty day moving average is $115.73 and its two-hundred day moving average is $130.69. 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 firm has a market capitalization of $14.74 billion, a P/E ratio of 17.10, a PEG ratio of 8.60 and a beta of 1.69. Builders FirstSource, Inc. has a fifty-two week low of $102.60 and a fifty-two week high of $203.14.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 28.02% and a net margin of 5.66%. The firm's revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.65 EPS. Research analysts expect that Builders FirstSource, Inc. will post 11.59 earnings per share for the current fiscal year.

Builders FirstSource declared that its board 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 buy up to 3.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership 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.

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