Oppenheimer Asset Management Inc. Raises Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Oppenheimer Asset Management Inc. raised its stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 41.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,566 shares of the company's stock after acquiring an additional 2,216 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Builders FirstSource were worth $945,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hudson Value Partners LLC increased its position in shares of Builders FirstSource by 1.7% during the fourth quarter. Hudson Value Partners LLC now owns 60,325 shares of the company's stock valued at $8,622,000 after acquiring an additional 1,033 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in Builders FirstSource by 4.5% during the 4th quarter. Mutual of America Capital Management LLC now owns 46,779 shares of the company's stock valued at $6,686,000 after purchasing an additional 2,003 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of Builders FirstSource in the 4th quarter worth $394,000. Fisher Asset Management LLC raised 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 worth $28,084,000 after purchasing an additional 25,535 shares during the last quarter. Finally, Bridges Investment Management Inc. lifted its holdings in shares of Builders FirstSource by 50.1% during the fourth quarter. Bridges Investment Management Inc. now owns 5,921 shares of the company's stock valued at $846,000 after purchasing an additional 1,977 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors.

Builders FirstSource Price Performance

NYSE:BLDR traded down $0.18 during trading hours on Monday, hitting $116.83. 1,630,565 shares of the stock traded hands, compared to its average volume of 1,687,955. The company has a market cap of $12.91 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 7.45 and a beta of 1.70. Builders FirstSource, Inc. has a 1 year low of $102.60 and a 1 year high of $203.14. The stock has a 50 day moving average price of $113.69 and a 200 day moving average price of $132.20. The company has a quick ratio of 1.07, a current ratio of 1.82 and a debt-to-equity ratio of 1.02.

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, beating analysts' consensus estimates of $1.50 by $0.01. The company had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.67 billion. Builders FirstSource had a net margin of 5.66% and a return on equity of 28.02%. Builders FirstSource's revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.65 EPS. Sell-side analysts forecast that Builders FirstSource, Inc. will post 11.59 EPS 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 repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Insider Activity

In other Builders FirstSource news, Director Paul S. Levy bought 283,517 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was purchased at an average price of $111.21 per share, for a total transaction of $31,529,925.57. Following the completion of the transaction, the director owned 1,672,687 shares of the company's stock, valued at $186,019,521.27. This trade represents a 20.41% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dirkson R. Charles purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was acquired at an average cost of $109.67 per share, for a total transaction of $548,350.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at $548,350. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought 505,000 shares of company stock worth $56,032,120 over the last 90 days. Company insiders own 1.80% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. BMO Capital Markets lowered their target price on shares of Builders FirstSource from $146.00 to $135.00 and set a "market perform" rating on the stock in a research note on Monday, May 5th. Loop Capital lowered their price objective 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. Raymond James Financial reaffirmed an "outperform" rating and issued a $140.00 target price (down previously from $170.00) on shares of Builders FirstSource in a research report on Friday, May 2nd. UBS Group decreased their target price on shares of Builders FirstSource from $180.00 to $163.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Builders FirstSource in a research note on Tuesday, April 1st. They issued a "buy" rating and a $151.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $163.11.

Builders FirstSource Company 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.