Royal Bank of Canada Grows Position in Builders FirstSource, Inc. (NYSE:BLDR)

Royal Bank of Canada raised its holdings in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 39.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 198,709 shares of the company's stock after acquiring an additional 55,875 shares during the period. Royal Bank of Canada owned approximately 0.17% of Builders FirstSource worth $28,403,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in shares of Builders FirstSource by 34.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 518 shares of the company's stock valued at $74,000 after acquiring an additional 134 shares in the last quarter. Mountain Lake Investment Management LLC raised its holdings in shares of Builders FirstSource by 7.0% in the 4th quarter. Mountain Lake Investment Management LLC now owns 36,367 shares of the company's stock valued at $5,201,000 after acquiring an additional 2,367 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Builders FirstSource by 14.9% in the 4th quarter. Fisher Asset Management LLC now owns 196,491 shares of the company's stock valued at $28,084,000 after acquiring an additional 25,535 shares in the last quarter. Fiera Capital Corp purchased a new stake in shares of Builders FirstSource in the 4th quarter valued at about $27,089,000. Finally, Lecap Asset Management Ltd. raised its holdings in shares of Builders FirstSource by 82.6% in the 4th quarter. Lecap Asset Management Ltd. now owns 22,043 shares of the company's stock valued at $3,151,000 after acquiring an additional 9,970 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Benchmark reduced their price objective on Builders FirstSource from $200.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Stephens reduced their price objective on Builders FirstSource from $145.00 to $140.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Barclays reduced their price objective on Builders FirstSource from $151.00 to $137.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Builders FirstSource in a research report on Tuesday, April 1st. They set a "buy" rating and a $151.00 price objective on the stock. Finally, Raymond James reiterated an "outperform" rating and set a $140.00 price objective (down from $170.00) on shares of Builders FirstSource in a research report on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $167.58.

Builders FirstSource Trading Up 0.0%

Shares of BLDR stock traded up $0.04 during trading hours on Thursday, reaching $107.50. The company's stock had a trading volume of 644,520 shares, compared to its average volume of 1,675,357. The stock has a market capitalization of $11.88 billion, a P/E ratio of 11.87, a P/E/G ratio of 0.80 and a beta of 1.79. Builders FirstSource, Inc. has a one year low of $103.81 and a one year high of $203.14. The firm's fifty day simple moving average is $117.99 and its 200 day simple moving average is $142.99. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.86.

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

Builders FirstSource declared that its board has approved a share buyback plan 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 plans are often an indication that the company's leadership believes its stock is undervalued.

Insider Transactions at Builders FirstSource

In other news, Director Paul S. Levy bought 216,483 shares of the stock in a transaction dated Thursday, May 8th. The stock was bought at an average price of $110.65 per share, for a total transaction of $23,953,843.95. Following the purchase, the director now directly owns 1,389,170 shares in the company, valued at $153,711,660.50. This trade represents a 18.46% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% 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.