Builders FirstSource, Inc. (NYSE:BLDR) Shares Bought by LPL Financial LLC

Key Points

• LPL Financial LLC has increased its stake in Builders FirstSource by 4.5% during the first quarter, owning a total of 300,584 shares worth $37.55 million.
• Analyst ratings on Builders FirstSource are varied, with price targets ranging from $135.00 to $155.00 and a consensus rating of 'Moderate Buy.'
• Builders FirstSource has initiated a $500 million share buyback plan, indicating management's belief that the stock is undervalued.

LPL Financial LLC increased its position in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 4.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 300,584 shares of the company's stock after acquiring an additional 13,013 shares during the period. LPL Financial LLC owned approximately 0.26% of Builders FirstSource worth $37,555,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BLDR. Voya Investment Management LLC lifted its stake in Builders FirstSource by 174.2% in the 4th quarter. Voya Investment Management LLC now owns 1,416,280 shares of the company's stock valued at $202,374,000 after buying an additional 899,841 shares in the last quarter. FMR LLC lifted its stake in 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 buying an additional 740,214 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Builders FirstSource by 16.8% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,270,362 shares of the company's stock valued at $283,659,000 after buying an additional 326,923 shares in the last quarter. Coliseum Capital Management LLC purchased a new stake in Builders FirstSource in the 4th quarter valued at approximately $45,334,000. Finally, GAMMA Investing LLC lifted its stake in Builders FirstSource by 20,946.5% in the 1st quarter. GAMMA Investing LLC now owns 243,508 shares of the company's stock valued at $30,424,000 after buying an additional 242,351 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Barclays reduced their target price on Builders FirstSource from $137.00 to $135.00 and set an "overweight" rating on the stock in a research note on Friday, August 1st. Baird R W lowered Builders FirstSource from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Robert W. Baird lowered Builders FirstSource from an "outperform" rating to a "neutral" rating and reduced their price target for the stock from $145.00 to $130.00 in a research note on Friday, August 1st. Oppenheimer set a $155.00 price target on Builders FirstSource and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $134.00 price target on shares of Builders FirstSource in a research note on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $156.16.

Builders FirstSource Stock Down 1.5%

NYSE BLDR traded down $1.97 during trading hours on Wednesday, hitting $130.98. The company had a trading volume of 1,238,168 shares, compared to its average volume of 1,962,013. Builders FirstSource, Inc. has a fifty-two week low of $102.60 and a fifty-two week high of $203.14. The company has a market capitalization of $14.48 billion, a price-to-earnings ratio of 19.86, a P/E/G ratio of 12.50 and a beta of 1.68. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.79 and a quick ratio of 1.08. The firm's 50 day moving average is $121.34 and its 200 day moving average is $128.43.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.03. The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.29 billion. Builders FirstSource had a return on equity of 24.61% and a net margin of 4.74%. The company's revenue was down 5.0% on a year-over-year basis. During the same period last year, the firm earned $3.50 earnings per share. Sell-side analysts anticipate that Builders FirstSource, Inc. will post 11.59 earnings per share for the current fiscal year.

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

Insider Activity

In other news, Director Dirkson R. Charles bought 5,000 shares of Builders FirstSource stock in a transaction on Tuesday, May 27th. The shares were bought at an average price of $109.67 per share, with a total value of $548,350.00. Following the acquisition, the director directly owned 5,000 shares in the company, valued at approximately $548,350. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul S. Levy bought 283,517 shares of the firm's stock in a transaction dated 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 transaction, the director owned 1,672,687 shares in the company, valued at approximately $186,019,521.27. This represents a 20.41% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 505,000 shares of company stock valued at $56,032,120 over the last 90 days. Insiders own 1.80% of the company's stock.

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.