Meridian Investment Counsel Inc. Makes New $1.38 Million Investment in Builders FirstSource, Inc. $BLDR

Key Points

• Meridian Investment Counsel initiated a $1.38 million position in Builders FirstSource during the third quarter by purchasing 24,118 shares. Institutional investors and hedge funds collectively own 95.53% of the company.
• Builders FirstSource shares opened at $50.46, down 2.4%, and have fallen substantially from their 12-month high of $131.50. The company recently missed earnings and revenue expectations, reporting $1.17 in EPS and $3.86 billion in revenue.
• Analysts have a consensus “Hold” rating, with an average price target of $84.50; nine analysts recommend buying, 13 advise holding, and three rate the stock a sell.

Meridian Investment Counsel Inc. purchased a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 24,118 shares of the company's stock, valued at approximately $1,375,000.

Other institutional investors have also modified their holdings of the company. Root Financial Partners LLC raised its holdings in shares of Builders FirstSource by 43.6% in the 1st quarter. Root Financial Partners LLC now owns 372 shares of the company's stock valued at $31,000 after buying an additional 113 shares during the period. Wedbush Securities Inc. lifted its stake in Builders FirstSource by 5.3% during the 2nd quarter. Wedbush Securities Inc. now owns 2,927 shares of the company's stock worth $262,000 after acquiring an additional 147 shares in the last quarter. Private Advisor Group LLC boosted its holdings in Builders FirstSource by 5.9% during the 1st quarter. Private Advisor Group LLC now owns 2,890 shares of the company's stock valued at $238,000 after acquiring an additional 162 shares during the period. Altshuler Shaham Ltd boosted its holdings in Builders FirstSource by 2.4% during the 1st quarter. Altshuler Shaham Ltd now owns 7,600 shares of the company's stock valued at $626,000 after acquiring an additional 180 shares during the period. Finally, Mufg Securities Americas Inc. grew its position in Builders FirstSource by 5.9% in the 2nd quarter. Mufg Securities Americas Inc. now owns 3,240 shares of the company's stock valued at $290,000 after acquiring an additional 180 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Builders FirstSource Stock Down 2.4%

Shares of NYSE BLDR opened at $50.46 on Thursday. The stock has a market cap of $5.43 billion, a P/E ratio of 55.45, a PEG ratio of 1.66 and a beta of 1.45. The business's fifty day simple moving average is $62.87 and its 200-day simple moving average is $73.00. Builders FirstSource, Inc. has a 12-month low of $49.67 and a 12-month high of $131.50. The company has a current ratio of 1.79, a quick ratio of 1.09 and a debt-to-equity ratio of 1.14.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.08). Builders FirstSource had a return on equity of 11.73% and a net margin of 0.71%. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period in the previous year, the firm earned $2.38 earnings per share. The company's revenue for the quarter was down 8.8% compared to the same quarter last year. As a group, equities analysts predict that Builders FirstSource, Inc. will post 3.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BLDR shares. KeyCorp cut their price target on shares of Builders FirstSource from $100.00 to $91.00 and set an "overweight" rating on the stock in a research note on Monday, July 13th. Benchmark lowered their price objective on shares of Builders FirstSource from $105.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, July 23rd. Robert W. Baird set a $75.00 price objective on shares of Builders FirstSource in a research note on Friday, July 31st. UBS Group set a $85.00 price objective on shares of Builders FirstSource in a report on Thursday, October 1st. Finally, Zacks Research raised shares of Builders FirstSource from a "strong sell" rating to a "hold" rating in a research note on Friday, October 2nd. Nine investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $84.50.

Builders FirstSource Profile

Builders FirstSource, Inc NYSE: BLDR is a supplier and manufacturer of building materials, manufactured components and construction services for professional homebuilders, contractors, remodelers and other construction professionals in the United States. The company serves customers through a network of locations across the country and supports both residential and selected commercial construction projects.

Its product offerings include lumber and other structural materials, engineered wood products, windows, interior and exterior doors, roofing, siding, cabinets, flooring and related building supplies.

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