Bank of Montreal Can Has $28.02 Million Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Bank of Montreal Can lifted its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 22.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,237 shares of the company’s stock after acquiring an additional 26,611 shares during the period. Bank of Montreal Can owned approximately 0.13% of Builders FirstSource worth $28,018,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Innealta Capital LLC bought a new position in Builders FirstSource during the 2nd quarter worth about $27,000. Armstrong Advisory Group Inc. bought a new position in shares of Builders FirstSource during the third quarter worth about $30,000. First Horizon Advisors Inc. grew its holdings in shares of Builders FirstSource by 42.1% during the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after buying an additional 75 shares in the last quarter. New Millennium Group LLC acquired a new stake in Builders FirstSource in the 2nd quarter valued at approximately $38,000. Finally, Reston Wealth Management LLC bought a new stake in Builders FirstSource in the 3rd quarter valued at approximately $39,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on BLDR. Bank of America lifted their price objective on shares of Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. B. Riley cut their price target on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Wedbush restated an “outperform” rating and issued a $230.00 price objective on shares of Builders FirstSource in a report on Wednesday, November 6th. Oppenheimer reiterated an “outperform” rating and set a $225.00 target price on shares of Builders FirstSource in a report on Tuesday, October 29th. Finally, Royal Bank of Canada raised their price target on Builders FirstSource from $178.00 to $187.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Builders FirstSource currently has a consensus rating of “Moderate Buy” and an average target price of $206.47.

Insider Activity at Builders FirstSource

In related news, Director Cleveland A. Christophe sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $178.41, for a total value of $1,784,100.00. Following the completion of the sale, the director now directly owns 33,083 shares in the company, valued at approximately $5,902,338.03. The trade was a 23.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.80% of the stock is currently owned by corporate insiders.

Builders FirstSource Trading Up 0.9 %

Shares of NYSE:BLDR opened at $186.47 on Friday. Builders FirstSource, Inc. has a 12-month low of $130.75 and a 12-month high of $214.70. The business has a 50 day moving average of $185.56 and a 200-day moving average of $168.39. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 0.83. The stock has a market cap of $21.46 billion, a PE ratio of 18.21, a P/E/G ratio of 1.03 and a beta of 2.08.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share for the quarter, missing the consensus estimate of $3.09 by ($0.02). Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same period in the previous year, the business posted $4.24 earnings per share. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. As a group, equities research analysts forecast that Builders FirstSource, Inc. will post 11.56 earnings per share for the current year.

Builders FirstSource announced that its board has authorized a share repurchase plan on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 5.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

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.