Redwood Investment Management LLC Buys Shares of 10,023 Builders FirstSource, Inc. (NYSE:BLDR)

Redwood Investment Management LLC purchased a new stake in Builders FirstSource, Inc. (NYSE:BLDR) in the fourth quarter, HoldingsChannel reports. The firm purchased 10,023 shares of the company’s stock, valued at approximately $1,433,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. FMR LLC lifted its position in shares of Builders FirstSource by 7.3% in the fourth quarter. FMR LLC now owns 10,898,366 shares of the company’s stock valued at $1,557,703,000 after acquiring an additional 740,214 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Builders FirstSource by 1.2% during the 4th quarter. Invesco Ltd. now owns 2,253,588 shares of the company’s stock worth $322,105,000 after purchasing an additional 26,314 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Builders FirstSource by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,237,996 shares of the company’s stock worth $319,898,000 after buying an additional 77,666 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Builders FirstSource by 47.2% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 1,943,439 shares of the company’s stock valued at $277,776,000 after buying an additional 623,583 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its stake in shares of Builders FirstSource by 20.7% during the fourth quarter. Baillie Gifford & Co. now owns 1,663,420 shares of the company’s stock valued at $237,753,000 after buying an additional 285,458 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analyst Ratings Changes

BLDR has been the topic of several research analyst reports. Barclays decreased their target price on shares of Builders FirstSource from $151.00 to $137.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. BMO Capital Markets dropped their price objective on shares of Builders FirstSource from $146.00 to $135.00 and set a “market perform” rating on the stock in a research note on Monday, May 5th. Robert W. Baird set a $130.00 price target on Builders FirstSource in a research report on Friday, May 2nd. Stifel Nicolaus decreased their price target on Builders FirstSource from $125.00 to $118.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Finally, Benchmark cut their target price on shares of Builders FirstSource from $200.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.58.

Builders FirstSource Trading Down 1.4%

Shares of NYSE:BLDR opened at $117.87 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $13.03 billion, a PE ratio of 13.01, a P/E/G ratio of 0.80 and a beta of 1.79. Builders FirstSource, Inc. has a 1 year low of $103.81 and a 1 year high of $203.14. The firm has a fifty day moving average price of $120.84 and a 200 day moving average price of $146.92.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.01. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.67 billion. Builders FirstSource had a return on equity of 30.54% and a net margin of 6.57%. The firm’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.65 EPS. Analysts expect that Builders FirstSource, Inc. will post 11.59 EPS for the current fiscal year.

Builders FirstSource declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 1st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Builders FirstSource 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.