New York Life Investment Management LLC raised its stake in Builders FirstSource, Inc. (NYSE:BLDR – Free Report) by 1,408.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 435,473 shares of the company’s stock after acquiring an additional 406,610 shares during the quarter. New York Life Investment Management LLC’s holdings in Builders FirstSource were worth $24,826,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. DMKC Advisory Services LLC purchased a new stake in shares of Builders FirstSource in the third quarter valued at $4,035,000. 71 West Capital Partners purchased a new stake in Builders FirstSource during the 3rd quarter worth about $1,455,000. Welch & Forbes LLC purchased a new stake in Builders FirstSource during the 3rd quarter worth about $2,417,000. Beutel Goodman & Co Ltd. purchased a new stake in Builders FirstSource during the 3rd quarter worth about $108,298,000. Finally, Alpha Family Trust acquired a new position in Builders FirstSource in the 3rd quarter valued at about $412,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.
Builders FirstSource Price Performance
Shares of NYSE:BLDR opened at $62.97 on Wednesday. The company has a market cap of $6.78 billion, a P/E ratio of 170.19, a P/E/G ratio of 1.75 and a beta of 1.41. The company has a quick ratio of 1.14, a current ratio of 1.85 and a debt-to-equity ratio of 1.13. Builders FirstSource, Inc. has a 52 week low of $49.67 and a 52 week high of $131.50. The business has a fifty day simple moving average of $58.83 and a 200-day simple moving average of $78.60.
Builders FirstSource (NYSE:BLDR – Get Free Report) last released its earnings results on Thursday, October 29th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.45. Builders FirstSource had a return on equity of 10.77% and a net margin of 0.28%. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the prior year, the business posted $1.88 earnings per share. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities research analysts forecast that Builders FirstSource, Inc. will post 3.85 EPS for the current year.
Wall Street Analyst Weigh In
BLDR has been the topic of a number of recent research reports. Stifel Nicolaus upped their target price on shares of Builders FirstSource from $55.00 to $58.00 and gave the company a “hold” rating in a report on Monday, November 2nd. Barclays lowered their price target on shares of Builders FirstSource from $81.00 to $70.00 and set an “overweight” rating for the company in a report on Friday, October 30th. Truist Financial lifted their price target on shares of Builders FirstSource from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Deutsche Bank Aktiengesellschaft set a $66.00 price objective on shares of Builders FirstSource in a research report on Friday, July 31st. Finally, KeyCorp reduced their price objective on shares of Builders FirstSource from $91.00 to $80.00 and set an “overweight” rating on the stock in a research note on Friday, October 30th. Seven investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Builders FirstSource has a consensus rating of “Hold” and an average price target of $75.55.
View Our Latest Research Report on BLDR
Builders FirstSource Company Profile
Builders FirstSource, Inc. supplies building materials and construction services to professional homebuilders, remodelers and contractors in the United States. The company serves customers through a network of locations across the country. Its offerings include lumber, windows, doors, roofing and other building products, as well as manufactured components such as roof and floor trusses, wall panels and stairs. Builders FirstSource also provides services including design support, component manufacturing and jobsite delivery.
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