Redwood Investment Management LLC Invests $1.43 Million in Builders FirstSource, Inc. (NYSE:BLDR)

Redwood Investment Management LLC purchased a new stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,023 shares of the company's stock, valued at approximately $1,433,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC raised its position in shares of Builders FirstSource by 34.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 518 shares of the company's stock worth $74,000 after purchasing an additional 134 shares during the period. Mountain Lake Investment Management LLC raised its holdings in 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 lifted its stake in Builders FirstSource by 14.9% during 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 period. Fiera Capital Corp acquired a new position in Builders FirstSource in the fourth quarter valued at about $27,089,000. Finally, Lecap Asset Management Ltd. grew its holdings in Builders FirstSource by 82.6% during the 4th quarter. Lecap Asset Management Ltd. now owns 22,043 shares of the company's stock worth $3,151,000 after acquiring an additional 9,970 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors.

Builders FirstSource Stock Down 2.6%

BLDR stock traded down $3.19 during mid-day trading on Monday, hitting $117.45. 1,761,303 shares of the company were exchanged, compared to its average volume of 1,677,842. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.16 and a current ratio of 1.77. Builders FirstSource, Inc. has a 1-year low of $103.81 and a 1-year high of $203.14. The firm's 50 day simple moving average is $120.40 and its 200 day simple moving average is $145.83. The firm has a market cap of $12.98 billion, a P/E ratio of 12.96, a P/E/G ratio of 0.80 and a beta of 1.79.

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

Builders FirstSource announced that its Board of Directors has approved a share repurchase plan on Thursday, May 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

BLDR has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft began coverage on Builders FirstSource in a report on Tuesday, April 1st. They set a "buy" rating and a $151.00 price objective for the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $132.00 price objective on shares of Builders FirstSource in a research note on Thursday. BMO Capital Markets lowered their target price on shares of Builders FirstSource from $146.00 to $135.00 and set a "market perform" rating for the company in a report on Monday, May 5th. Stifel Nicolaus cut their price target on Builders FirstSource from $125.00 to $118.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Finally, Stephens reduced their price target 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. Six 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $167.58.

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.