683 Capital Management LLC Acquires Shares of 38,000 Builders FirstSource, Inc. $BLDR

683 Capital Management LLC bought a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 38,000 shares of the company’s stock, valued at approximately $4,434,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Smithfield Trust Co boosted its stake in shares of Builders FirstSource by 187.7% in the second quarter. Smithfield Trust Co now owns 420 shares of the company’s stock valued at $49,000 after buying an additional 274 shares during the period. AlphaQuest LLC acquired a new position in Builders FirstSource in the 2nd quarter valued at $67,000. Elevation Point Wealth Partners LLC acquired a new position in Builders FirstSource in the 2nd quarter valued at $67,000. Smartleaf Asset Management LLC lifted its position in shares of Builders FirstSource by 21.0% during the 1st quarter. Smartleaf Asset Management LLC now owns 627 shares of the company’s stock valued at $78,000 after acquiring an additional 109 shares during the period. Finally, Brooklyn Investment Group grew its holdings in shares of Builders FirstSource by 363.9% during the 1st quarter. Brooklyn Investment Group now owns 719 shares of the company’s stock worth $90,000 after purchasing an additional 564 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on BLDR. Wedbush reaffirmed a “neutral” rating and issued a $145.00 price target on shares of Builders FirstSource in a research note on Monday, September 15th. Stifel Nicolaus decreased their target price on shares of Builders FirstSource from $128.00 to $124.00 in a report on Monday, November 3rd. Wells Fargo & Company initiated coverage on shares of Builders FirstSource in a research report on Monday, November 17th. They issued an “equal weight” rating and a $115.00 target price for the company. Vertical Research assumed coverage on shares of Builders FirstSource in a report on Monday, October 20th. They set a “sell” rating and a $109.41 price target for the company. Finally, Benchmark increased their price target on shares of Builders FirstSource from $138.00 to $142.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Ten investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $136.86.

Builders FirstSource Trading Down 1.3%

Shares of Builders FirstSource stock opened at $108.41 on Friday. The firm’s 50 day moving average is $113.50 and its 200 day moving average is $122.42. The firm has a market capitalization of $11.99 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 11.75 and a beta of 1.56. Builders FirstSource, Inc. has a 1 year low of $94.35 and a 1 year high of $175.12. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 1.03.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.69 by $0.19. The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.86 billion. Builders FirstSource had a net margin of 3.79% and a return on equity of 21.28%. The firm’s revenue was down 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.07 EPS. Equities research analysts forecast that Builders FirstSource, Inc. will post 11.59 earnings per share for the current fiscal year.

About Builders FirstSource

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.