Procyon Advisors LLC Takes Position in Builders FirstSource, Inc. (NYSE:BLDR)

Procyon Advisors LLC purchased a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,096 shares of the company's stock, valued at approximately $512,000.

A number of other hedge funds also recently modified their holdings of the business. FMR LLC raised its position in Builders FirstSource by 7.3% during the 4th quarter. FMR LLC now owns 10,898,366 shares of the company's stock worth $1,557,703,000 after purchasing an additional 740,214 shares during the last quarter. Invesco Ltd. increased its stake in shares of Builders FirstSource by 1.2% in the fourth quarter. Invesco Ltd. now owns 2,253,588 shares of the company's stock valued at $322,105,000 after buying an additional 26,314 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Builders FirstSource by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,237,996 shares of the company's stock valued at $319,898,000 after buying an additional 77,666 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of Builders FirstSource by 47.2% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 1,943,439 shares of the company's stock worth $277,776,000 after acquiring an additional 623,583 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its stake in shares of Builders FirstSource by 20.7% in the fourth quarter. Baillie Gifford & Co. now owns 1,663,420 shares of the company's stock worth $237,753,000 after acquiring an additional 285,458 shares during the period. Institutional investors and hedge funds own 95.53% of the company's stock.

Builders FirstSource Stock Up 0.5%

Shares of BLDR traded up $0.53 during trading hours on Thursday, reaching $114.89. The stock had a trading volume of 1,402,201 shares, compared to its average volume of 1,675,694. The firm has a 50-day simple moving average of $114.89 and a 200 day simple moving average of $138.36. Builders FirstSource, Inc. has a 12 month low of $102.60 and a 12 month high of $203.14. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $12.70 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 0.80 and a beta of 1.70.

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

Builders FirstSource announced that its Board of Directors has approved a share buyback plan on Thursday, May 1st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BLDR. Royal Bank of Canada reissued an "outperform" rating and set a $132.00 target price on shares of Builders FirstSource in a research report on Thursday, May 15th. Stifel Nicolaus lowered their target price on shares of Builders FirstSource from $125.00 to $118.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Loop Capital dropped their target price on shares of Builders FirstSource from $190.00 to $170.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Stephens decreased their price target on Builders FirstSource from $145.00 to $140.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Finally, Raymond James reissued an "outperform" rating and issued a $140.00 price objective (down from $170.00) on shares of Builders FirstSource in a research report on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $167.58.

Insider Activity

In other news, Director Paul S. Levy bought 283,517 shares of the stock in a transaction dated Thursday, May 8th. The stock was bought at an average price of $111.21 per share, for a total transaction of $31,529,925.57. Following the completion of the acquisition, the director now directly owns 1,672,687 shares in the company, valued at approximately $186,019,521.27. This trade represents a 20.41% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Dirkson R. Charles acquired 5,000 shares of Builders FirstSource stock in a transaction on Tuesday, May 27th. The stock was purchased at an average cost of $109.67 per share, with a total value of $548,350.00. Following the completion of the transaction, the director now directly owns 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 have purchased 505,000 shares of company stock worth $56,032,120 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

About Builders FirstSource

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.