Illinois Municipal Retirement Fund Boosts Stake in Builders FirstSource, Inc. (NYSE:BLDR)

Illinois Municipal Retirement Fund raised its position in Builders FirstSource, Inc. (NYSE:BLDR) by 16.2% during the second quarter, HoldingsChannel.com reports. The firm owned 121,852 shares of the company’s stock after purchasing an additional 17,011 shares during the period. Illinois Municipal Retirement Fund’s holdings in Builders FirstSource were worth $16,866,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its position in Builders FirstSource by 42.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after purchasing an additional 75 shares during the period. Team Hewins LLC raised its position in Builders FirstSource by 6.5% in the 1st quarter. Team Hewins LLC now owns 1,313 shares of the company’s stock worth $274,000 after purchasing an additional 80 shares during the period. Csenge Advisory Group raised its position in Builders FirstSource by 1.9% in the 2nd quarter. Csenge Advisory Group now owns 4,252 shares of the company’s stock worth $589,000 after purchasing an additional 81 shares during the period. Congress Wealth Management LLC DE raised its position in Builders FirstSource by 1.4% in the 4th quarter. Congress Wealth Management LLC DE now owns 6,197 shares of the company’s stock worth $1,035,000 after purchasing an additional 85 shares during the period. Finally, Quarry LP raised its position in Builders FirstSource by 49.7% in the 4th quarter. Quarry LP now owns 280 shares of the company’s stock worth $47,000 after purchasing an additional 93 shares during the period. 95.53% of the stock is owned by hedge funds and other institutional investors.

Builders FirstSource Stock Up 0.6 %

BLDR traded up $0.96 during trading on Friday, hitting $168.51. The stock had a trading volume of 1,856,790 shares, compared to its average volume of 1,622,488. The company has a market capitalization of $20.57 billion, a PE ratio of 14.44, a PEG ratio of 10.07 and a beta of 2.06. Builders FirstSource, Inc. has a twelve month low of $105.24 and a twelve month high of $214.70. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. The stock has a 50 day simple moving average of $158.43 and a two-hundred day simple moving average of $171.58.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. The business had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company posted $3.89 earnings per share. On average, research analysts predict that Builders FirstSource, Inc. will post 11.91 earnings per share for the current year.

Builders FirstSource declared that its Board of Directors has initiated a stock buyback program on Tuesday, August 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following the completion of the transaction, the director now owns 95,333 shares of the company’s stock, valued at $14,650,775.44. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BLDR. Wedbush reaffirmed an “outperform” rating and set a $175.00 target price on shares of Builders FirstSource in a research report on Tuesday, August 6th. Baird R W raised shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a $185.00 target price (down from $205.00) on shares of Builders FirstSource in a research report on Friday, August 9th. Bank of America lowered shares of Builders FirstSource from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $183.00 to $180.00 in a research report on Friday, August 2nd. Finally, Barclays dropped their price objective on shares of Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $181.57.

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.