Magnetar Financial LLC Acquires New Position in Builders FirstSource, Inc. (NYSE:BLDR)

Magnetar Financial LLC acquired a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,304 shares of the company’s stock, valued at approximately $1,106,000.

Several other institutional investors also recently bought and sold shares of BLDR. Vanguard Group Inc. grew its position in Builders FirstSource by 15.7% during the 4th quarter. Vanguard Group Inc. now owns 14,668,049 shares of the company’s stock valued at $2,448,684,000 after purchasing an additional 1,985,297 shares during the last quarter. Norges Bank bought a new position in Builders FirstSource during the 4th quarter valued at about $212,209,000. Boston Partners lifted its stake in Builders FirstSource by 73.5% during the 4th quarter. Boston Partners now owns 1,366,784 shares of the company’s stock valued at $227,464,000 after acquiring an additional 578,961 shares during the period. Bessemer Group Inc. lifted its stake in Builders FirstSource by 477,028.7% during the 1st quarter. Bessemer Group Inc. now owns 448,501 shares of the company’s stock valued at $93,535,000 after acquiring an additional 448,407 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in Builders FirstSource by 152.9% during the 4th quarter. Hsbc Holdings PLC now owns 489,047 shares of the company’s stock valued at $81,628,000 after acquiring an additional 295,643 shares during the period. 95.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wedbush lowered their target price on shares of Builders FirstSource from $215.00 to $175.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Zelman & Associates reiterated a “hold” rating on shares of Builders FirstSource in a research note on Monday, June 17th. Truist Financial lowered their price objective on shares of Builders FirstSource from $190.00 to $180.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. Robert W. Baird lowered their price objective on shares of Builders FirstSource from $207.00 to $197.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Finally, Jefferies Financial Group increased their price objective on shares of Builders FirstSource from $226.00 to $237.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $191.67.

Insider Activity at Builders FirstSource

In related news, insider Paul M. Mccrobie sold 9,118 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $170.11, for a total value of $1,551,062.98. Following the completion of the transaction, the insider now directly owns 22,667 shares of the company’s stock, valued at $3,855,883.37. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Paul M. Mccrobie sold 9,118 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $170.11, for a total value of $1,551,062.98. Following the completion of the sale, the insider now directly owns 22,667 shares in the company, valued at $3,855,883.37. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael Hiller sold 4,875 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $159.25, for a total value of $776,343.75. Following the completion of the sale, the insider now owns 30,106 shares of the company’s stock, valued at $4,794,380.50. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.

Builders FirstSource Stock Performance

NYSE BLDR traded up $8.76 on Friday, reaching $167.49. 1,748,579 shares of the stock were exchanged, compared to its average volume of 1,812,984. The company has a current ratio of 2.21, a quick ratio of 1.45 and a debt-to-equity ratio of 0.75. Builders FirstSource, Inc. has a one year low of $105.24 and a one year high of $214.70. The company’s 50-day simple moving average is $150.75 and its two-hundred day simple moving average is $173.75. The firm has a market capitalization of $20.44 billion, a PE ratio of 14.34, a PEG ratio of 2.69 and a beta of 2.04.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.23. Builders FirstSource had a net margin of 8.57% and a return on equity of 38.66%. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period last year, the firm posted $2.96 EPS. The company’s revenue was up .2% on a year-over-year basis. Analysts expect that Builders FirstSource, Inc. will post 12.93 EPS for the current fiscal year.

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.