Gateway Investment Advisers LLC increased its position in shares of Builders FirstSource, Inc. (NYSE:BLDR – Free Report) by 36.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,538 shares of the company’s stock after acquiring an additional 1,493 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Builders FirstSource were worth $692,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Builders FirstSource by 30.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,852 shares of the company’s stock worth $1,573,000 after buying an additional 2,539 shares in the last quarter. Choreo LLC boosted its holdings in Builders FirstSource by 28.4% during the fourth quarter. Choreo LLC now owns 4,332 shares of the company’s stock worth $621,000 after buying an additional 959 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Builders FirstSource by 1.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,384 shares of the company’s stock worth $1,770,000 after buying an additional 199 shares in the last quarter. TFB Advisors LLC lifted its holdings in Builders FirstSource by 2.1% during the fourth quarter. TFB Advisors LLC now owns 3,819 shares of the company’s stock valued at $546,000 after purchasing an additional 79 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC lifted its holdings in Builders FirstSource by 26.2% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 15,966 shares of the company’s stock valued at $2,282,000 after purchasing an additional 3,312 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.
Builders FirstSource Stock Performance
Shares of NYSE BLDR opened at $112.98 on Tuesday. The business has a fifty day simple moving average of $115.13 and a 200 day simple moving average of $138.67. 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 firm has a market capitalization of $12.49 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 0.80 and a beta of 1.69. Builders FirstSource, Inc. has a one year low of $102.60 and a one year high of $203.14.
Builders FirstSource declared that its board has approved a stock 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 purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
Insiders Place Their Bets
In related news, Director Paul S. Levy bought 283,517 shares of the business’s 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 purchase, the director now owns 1,672,687 shares in the company, valued at $186,019,521.27. This represents a 20.41% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dirkson R. Charles acquired 5,000 shares of the company’s stock in a transaction on Tuesday, May 27th. The stock was acquired at an average price of $109.67 per share, with a total value of $548,350.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $548,350. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 505,000 shares of company stock worth $56,032,120. Company insiders own 2.00% of the company’s stock.
Analyst Upgrades and Downgrades
BLDR has been the subject of several recent analyst reports. Truist Financial cut their price objective 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Builders FirstSource in a research report on Tuesday, April 1st. They set a “buy” rating and a $151.00 price objective for the company. BMO Capital Markets cut their price objective on shares of Builders FirstSource from $146.00 to $135.00 and set a “market perform” rating for the company in a research report on Monday, May 5th. Royal Bank of Canada restated an “outperform” rating and set a $132.00 price objective on shares of Builders FirstSource in a research report on Thursday, May 15th. Finally, Barclays cut their price objective on shares of Builders FirstSource from $151.00 to $137.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. Six 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $167.58.
Get Our Latest Analysis on BLDR
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.
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