Tocqueville Asset Management L.P. Takes $20.19 Million Position in Builders FirstSource, Inc. $BLDR

Tocqueville Asset Management L.P. purchased a new stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 225,588 shares of the company's stock, valued at approximately $20,186,000. Tocqueville Asset Management L.P. owned 0.21% of Builders FirstSource as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BLDR. Integrated Wealth Concepts LLC grew its stake in shares of Builders FirstSource by 9.3% during the first quarter. Integrated Wealth Concepts LLC now owns 3,460 shares of the company's stock worth $432,000 after purchasing an additional 295 shares during the period. Woodline Partners LP lifted its stake in Builders FirstSource by 40.7% in the first quarter. Woodline Partners LP now owns 9,723 shares of the company's stock valued at $1,215,000 after buying an additional 2,812 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Builders FirstSource by 180.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,582 shares of the company's stock worth $185,000 after buying an additional 1,017 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in Builders FirstSource by 230.7% during the second quarter. Baird Financial Group Inc. now owns 18,942 shares of the company's stock worth $2,210,000 after buying an additional 13,215 shares during the last quarter. Finally, Jump Financial LLC grew its position in shares of Builders FirstSource by 144.1% during the 2nd quarter. Jump Financial LLC now owns 7,223 shares of the company's stock worth $843,000 after buying an additional 4,264 shares during the period. 95.53% of the stock is currently owned by institutional investors.

Builders FirstSource Trading Up 7.3%

NYSE BLDR opened at $72.53 on Thursday. Builders FirstSource, Inc. has a one year low of $65.10 and a one year high of $151.03. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.79 and a quick ratio of 1.09. The firm has a market cap of $7.80 billion, a P/E ratio of 79.71, a P/E/G ratio of 2.19 and a beta of 1.44. The stock's 50-day moving average is $76.29 and its 200-day moving average is $85.00.

Builders FirstSource (NYSE:BLDR - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.08). Builders FirstSource had a net margin of 0.71% and a return on equity of 11.73%. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the prior year, the firm posted $2.38 earnings per share. Builders FirstSource's revenue for the quarter was down 8.8% compared to the same quarter last year. Sell-side analysts anticipate that Builders FirstSource, Inc. will post 3.15 earnings per share for the current fiscal year.

Builders FirstSource announced that its Board of Directors has initiated a stock buyback program on Thursday, April 30th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to buy up to 5.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts recently weighed in on BLDR shares. Zacks Research downgraded shares of Builders FirstSource from a "hold" rating to a "strong sell" rating in a research report on Monday, August 3rd. DA Davidson set a $68.00 price objective on shares of Builders FirstSource in a report on Friday, July 31st. UBS Group lowered their target price on shares of Builders FirstSource from $122.00 to $88.00 and set a "buy" rating for the company in a research note on Friday, July 31st. Jefferies Financial Group cut their target price on shares of Builders FirstSource from $85.00 to $80.00 and set a "hold" rating on the stock in a report on Monday, May 4th. Finally, Wolfe Research raised shares of Builders FirstSource to a "hold" rating in a research report on Thursday, May 14th. Nine research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $90.35.

Builders FirstSource Profile

Builders FirstSource, Inc is a leading supplier of structural and value-added building products and services to professional contractors, homebuilders and remodelers. The company provides a comprehensive range of materials and prefabricated components that support all phases of residential construction, from site development and framing to finishing and installation.

The company's core offerings include lumber and lumber sheet goods, windows and doors, millwork, roofing and siding, and engineered wood products such as roof and floor trusses.

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