EDENTREE ASSET MANAGEMENT Ltd Purchases New Position in Builders FirstSource, Inc. $BLDR

EDENTREE ASSET MANAGEMENT Ltd acquired a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 54,750 shares of the company’s stock, valued at approximately $6,387,000. Builders FirstSource comprises approximately 1.8% of EDENTREE ASSET MANAGEMENT Ltd’s investment portfolio, making the stock its 24th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in BLDR. National Bank of Canada FI lifted its holdings in shares of Builders FirstSource by 38.8% in the 1st quarter. National Bank of Canada FI now owns 75,969 shares of the company’s stock valued at $9,491,000 after purchasing an additional 21,225 shares during the last quarter. Townsquare Capital LLC increased its position in Builders FirstSource by 57.7% during the first quarter. Townsquare Capital LLC now owns 6,710 shares of the company’s stock worth $838,000 after buying an additional 2,455 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Builders FirstSource during the first quarter worth approximately $835,000. Benjamin Edwards Inc. lifted its stake in Builders FirstSource by 13.1% in the first quarter. Benjamin Edwards Inc. now owns 12,658 shares of the company’s stock valued at $1,581,000 after buying an additional 1,470 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Builders FirstSource in the first quarter valued at approximately $36,339,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Builders FirstSource Stock Up 4.3%

Shares of NYSE:BLDR opened at $109.49 on Thursday. The company has a market cap of $12.11 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 11.23 and a beta of 1.56. The firm’s 50-day simple moving average is $114.27 and its 200-day simple moving average is $122.51. The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 1.03. Builders FirstSource, Inc. has a fifty-two week low of $94.35 and a fifty-two week high of $175.24.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings results on Thursday, October 30th. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.19. The firm had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.86 billion. Builders FirstSource had a net margin of 3.79% and a return on equity of 21.28%. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.07 earnings per share. As a group, equities research analysts predict that Builders FirstSource, Inc. will post 11.59 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. BMO Capital Markets cut their target price on shares of Builders FirstSource from $130.00 to $123.00 in a report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c-)” rating on shares of Builders FirstSource in a research report on Wednesday, October 8th. Benchmark lifted their price objective on shares of Builders FirstSource from $138.00 to $142.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Builders FirstSource from $134.00 to $131.00 and set a “hold” rating for the company in a research note on Monday, November 3rd. Finally, Wedbush reissued a “neutral” rating and set a $145.00 price target on shares of Builders FirstSource in a report on Monday, September 15th. Ten equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $136.86.

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.