Builders FirstSource, Inc. (NYSE:BLDR) Shares Purchased by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. grew its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 232,550 shares of the company’s stock after acquiring an additional 2,970 shares during the quarter. Thornburg Investment Management Inc. owned about 0.20% of Builders FirstSource worth $33,238,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BLDR. E Fund Management Hong Kong Co. Ltd. acquired a new position in Builders FirstSource during the fourth quarter worth approximately $33,000. SBI Securities Co. Ltd. purchased a new stake in shares of Builders FirstSource during the 4th quarter valued at $34,000. Avion Wealth increased its holdings in shares of Builders FirstSource by 728.6% during the 4th quarter. Avion Wealth now owns 348 shares of the company’s stock worth $49,000 after buying an additional 306 shares during the last quarter. Mather Group LLC. increased its holdings in shares of Builders FirstSource by 91.2% during the 4th quarter. Mather Group LLC. now owns 497 shares of the company’s stock worth $71,000 after buying an additional 237 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of Builders FirstSource by 34.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 518 shares of the company’s stock worth $74,000 after buying an additional 134 shares during the period. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BLDR shares. Deutsche Bank Aktiengesellschaft started coverage on Builders FirstSource in a research note on Tuesday, April 1st. They set a “buy” rating and a $151.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and issued a $132.00 price target on shares of Builders FirstSource in a report on Thursday. Benchmark reduced their price target on shares of Builders FirstSource from $200.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. BMO Capital Markets cut their target price 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. Finally, Robert W. Baird set a $130.00 price target on shares of Builders FirstSource in a research report on Friday, May 2nd. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Builders FirstSource currently has an average rating of “Moderate Buy” and an average target price of $167.58.

Builders FirstSource Trading Up 2.2%

BLDR opened at $120.57 on Friday. Builders FirstSource, Inc. has a 12-month low of $103.81 and a 12-month high of $203.14. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.77 and a quick ratio of 1.16. The stock has a market capitalization of $13.33 billion, a PE ratio of 13.31, a P/E/G ratio of 0.80 and a beta of 1.79. The firm’s fifty day moving average price is $120.65 and its 200 day moving average price is $146.38.

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

Builders FirstSource announced that its board has initiated a stock buyback plan on Thursday, May 1st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.