Wedge Capital Management L L P NC Increases Stake in Builders FirstSource, Inc. (NYSE:BLDR)

Wedge Capital Management L L P NC increased its holdings in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 18.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,219 shares of the company's stock after buying an additional 9,054 shares during the period. Wedge Capital Management L L P NC owned 0.05% of Builders FirstSource worth $7,274,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in Builders FirstSource in the fourth quarter valued at approximately $34,000. Sentry Investment Management LLC bought a new position in shares of Builders FirstSource in the first quarter worth about $40,000. Avion Wealth boosted its stake in shares of Builders FirstSource by 728.6% in the 4th quarter. Avion Wealth now owns 348 shares of the company's stock valued at $49,000 after purchasing an additional 306 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Builders FirstSource by 34.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 518 shares of the company's stock valued at $74,000 after purchasing an additional 134 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in Builders FirstSource during the 4th quarter worth approximately $74,000. 95.53% of the stock is currently owned by institutional investors.

Builders FirstSource Price Performance

Shares of Builders FirstSource stock traded down $1.63 on Wednesday, hitting $115.70. 954,462 shares of the company traded hands, compared to its average volume of 1,671,189. Builders FirstSource, Inc. has a 52 week low of $102.60 and a 52 week high of $203.14. The business has a 50-day simple moving average of $115.08 and a 200 day simple moving average of $138.53. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.16 and a current ratio of 1.77. The stock has a market capitalization of $12.79 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 0.80 and a beta of 1.70.

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

Builders FirstSource announced that its board has approved a stock buyback program on Thursday, May 1st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Robert W. Baird set a $130.00 price target on Builders FirstSource in a report on Friday, May 2nd. BMO Capital Markets cut 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 report on Monday, May 5th. Truist Financial decreased their price target on shares of Builders FirstSource from $220.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Stephens cut their price target on shares of Builders FirstSource from $145.00 to $140.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Finally, Benchmark reduced their price objective on shares of Builders FirstSource from $200.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Builders FirstSource currently has a consensus rating of "Moderate Buy" and an average target price of $167.58.

Insider Buying and Selling at Builders FirstSource

In related news, Director Paul S. Levy bought 283,517 shares of the company's stock in a transaction on Thursday, May 8th. The shares were acquired at an average price of $111.21 per share, with a total value of $31,529,925.57. Following the transaction, the director now owns 1,672,687 shares of the company's stock, valued at $186,019,521.27. The trade was a 20.41% increase in their ownership of the stock. The transaction 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 the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were bought at an average cost of $109.67 per share, for a total transaction of $548,350.00. Following the transaction, the director now owns 5,000 shares of the company's stock, valued at $548,350. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 505,000 shares of company stock worth $56,032,120 over the last 90 days. Company 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.