Mackenzie Financial Corp Has $2 Million Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Mackenzie Financial Corp raised its position in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 35.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,002 shares of the company's stock after buying an additional 3,647 shares during the period. Mackenzie Financial Corp's holdings in Builders FirstSource were worth $2,001,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of BLDR. Smartleaf Asset Management LLC grew its position in Builders FirstSource by 34.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 518 shares of the company's stock worth $74,000 after acquiring an additional 134 shares during the last quarter. Mountain Lake Investment Management LLC grew its holdings in shares of Builders FirstSource by 7.0% during the fourth quarter. Mountain Lake Investment Management LLC now owns 36,367 shares of the company's stock worth $5,201,000 after purchasing an additional 2,367 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Builders FirstSource by 14.9% in the fourth 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 bought a new position in shares of Builders FirstSource in the fourth quarter valued at about $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 worth $3,151,000 after acquiring an additional 9,970 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 the company's stock in a transaction dated Tuesday, May 27th. The shares were bought at an average cost of $109.67 per share, with a total value of $548,350.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at $548,350. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul S. Levy purchased 216,483 shares of the stock in a transaction on Thursday, May 8th. The shares were acquired at an average cost of $110.65 per share, for a total transaction of $23,953,843.95. Following the transaction, the director now owns 1,389,170 shares of the company's stock, valued at approximately $153,711,660.50. The trade was a 18.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 505,000 shares of company stock valued at $56,032,120 in the last three months. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

BLDR has been the topic of a number of research reports. Loop Capital reduced their target price on shares of Builders FirstSource from $190.00 to $170.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Stephens dropped their target price on Builders FirstSource from $145.00 to $140.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. BMO Capital Markets dropped their price objective on Builders FirstSource from $146.00 to $135.00 and set a "market perform" rating for the company in a report on Monday, May 5th. Benchmark reduced their target price on shares of Builders FirstSource from $200.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Finally, UBS Group reduced their price objective on shares of Builders FirstSource from $180.00 to $163.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Builders FirstSource has an average rating of "Moderate Buy" and an average price target of $167.58.

Builders FirstSource Stock Up 2.3%

Shares of NYSE:BLDR traded up $2.48 during mid-day trading on Wednesday, reaching $112.68. 2,099,323 shares of the stock were exchanged, compared to its average volume of 1,674,102. The stock's 50 day simple moving average is $116.00 and its 200-day simple moving average is $140.55. Builders FirstSource, Inc. has a one year low of $102.60 and a one year high of $203.14. The company has a market cap of $12.45 billion, a P/E ratio of 12.44, a P/E/G ratio of 0.80 and a beta of 1.79. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 0.86.

Builders FirstSource (NYSE:BLDR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.01. Builders FirstSource had a net margin of 6.57% and a return on equity of 30.54%. The company had revenue of $3.66 billion during the quarter, compared to analysts' expectations of $3.67 billion. During the same period last year, the business earned $2.65 EPS. The business's quarterly revenue was down 6.0% on a year-over-year basis. As a group, equities research analysts predict that Builders FirstSource, Inc. will post 11.59 EPS for the current year.

Builders FirstSource announced that its Board of Directors has initiated a stock buyback program on Thursday, May 1st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its stock is 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.