DRW Securities LLC Makes New $217,000 Investment in Builders FirstSource, Inc. (NYSE:BLDR)

DRW Securities LLC bought a new stake in Builders FirstSource, Inc. (NYSE:BLDR) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,121 shares of the company’s stock, valued at approximately $217,000.

A number of other hedge funds have also modified their holdings of BLDR. Independent Advisor Alliance acquired a new position in Builders FirstSource during the third quarter worth about $259,000. Harvest Fund Management Co. Ltd lifted its stake in Builders FirstSource by 410.9% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 5,492 shares of the company’s stock worth $1,065,000 after purchasing an additional 4,417 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its position in shares of Builders FirstSource by 2.3% in the third quarter. Dynamic Technology Lab Private Ltd now owns 6,672 shares of the company’s stock valued at $1,293,000 after purchasing an additional 152 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Builders FirstSource by 2.0% in the third quarter. Fisher Asset Management LLC now owns 170,956 shares of the company’s stock valued at $33,142,000 after purchasing an additional 3,307 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Builders FirstSource by 14.3% during the third quarter. Daiwa Securities Group Inc. now owns 23,938 shares of the company’s stock worth $4,641,000 after buying an additional 3,001 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BLDR shares. Jefferies Financial Group upped their target price on Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. B. Riley cut their price objective on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Baird R W raised shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Truist Financial raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and increased their price target for the company from $165.00 to $220.00 in a research note on Monday, September 16th. Finally, Royal Bank of Canada raised their price target on shares of Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.47.

Builders FirstSource Stock Performance

Shares of Builders FirstSource stock opened at $184.60 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.77 and a quick ratio of 1.16. The stock has a market capitalization of $21.24 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 1.06 and a beta of 2.08. The business has a 50-day moving average of $186.10 and a 200 day moving average of $168.16. Builders FirstSource, Inc. has a 12 month low of $130.75 and a 12 month high of $214.70.

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

Builders FirstSource announced that its Board of Directors has authorized a stock repurchase program on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 5.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Cleveland A. Christophe sold 10,000 shares of Builders FirstSource stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $178.41, for a total value of $1,784,100.00. Following the completion of the transaction, the director now owns 33,083 shares in the company, valued at $5,902,338.03. The trade was a 23.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by insiders.

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.