CIBC Asset Management Inc Increases Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

CIBC Asset Management Inc raised its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,483 shares of the company’s stock after purchasing an additional 710 shares during the period. CIBC Asset Management Inc’s holdings in Builders FirstSource were worth $3,389,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in BLDR. Forsta AP Fonden increased its stake in Builders FirstSource by 12.1% in the 3rd quarter. Forsta AP Fonden now owns 26,800 shares of the company’s stock worth $5,195,000 after acquiring an additional 2,900 shares during the last quarter. Cetera Investment Advisers raised its stake in Builders FirstSource by 762.2% during the first quarter. Cetera Investment Advisers now owns 50,982 shares of the company’s stock valued at $10,632,000 after purchasing an additional 45,069 shares in the last quarter. Janus Henderson Group PLC lifted its position in Builders FirstSource by 21.1% during the first quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock valued at $4,173,000 after purchasing an additional 3,483 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Builders FirstSource by 18.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 115,995 shares of the company’s stock worth $16,055,000 after buying an additional 18,223 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Builders FirstSource in the 1st quarter worth about $3,448,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analyst Ratings Changes

BLDR has been the subject of a number of analyst reports. Stephens increased their price target on shares of Builders FirstSource from $178.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Baird R W upgraded Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Bank of America increased their price target on Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. DA Davidson raised their price target on Builders FirstSource from $169.00 to $175.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Finally, Benchmark cut their price objective on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Builders FirstSource currently has a consensus rating of “Moderate Buy” and an average price target of $206.47.

Insider Buying and Selling

In other news, Director Cleveland A. Christophe sold 10,000 shares of Builders FirstSource stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $178.41, for a total value of $1,784,100.00. Following the transaction, the director now directly owns 33,083 shares in the company, valued at approximately $5,902,338.03. This trade represents a 23.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by insiders.

Builders FirstSource Price Performance

BLDR opened at $178.30 on Tuesday. The company has a market capitalization of $20.52 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 0.98 and a beta of 2.08. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. Builders FirstSource, Inc. has a 12-month low of $130.75 and a 12-month high of $214.70. The business’s fifty day simple moving average is $185.83 and its 200-day simple moving average is $168.06.

Builders FirstSource (NYSE:BLDR) last posted its earnings results on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same period last year, the business posted $4.24 EPS. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. On average, equities research analysts anticipate that Builders FirstSource, Inc. will post 11.56 earnings per share for the current fiscal year.

Builders FirstSource declared that its Board of Directors has approved a share buyback program on Tuesday, August 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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.