Fred Alger Management LLC Acquires 269,239 Shares of Builders FirstSource, Inc. $BLDR

Fred Alger Management LLC lifted its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 252.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 375,723 shares of the company’s stock after acquiring an additional 269,239 shares during the quarter. Fred Alger Management LLC owned approximately 0.34% of Builders FirstSource worth $38,658,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BLDR. Capital International Investors bought a new position in shares of Builders FirstSource during the third quarter valued at approximately $429,640,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Builders FirstSource by 99,084.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,241,561 shares of the company’s stock valued at $230,634,000 after acquiring an additional 2,239,301 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Builders FirstSource by 2,498.8% during the third quarter. Franklin Resources Inc. now owns 1,854,525 shares of the company’s stock valued at $224,861,000 after acquiring an additional 1,783,164 shares in the last quarter. Sands Capital Management LLC raised its holdings in shares of Builders FirstSource by 139.1% during the third quarter. Sands Capital Management LLC now owns 2,430,902 shares of the company’s stock valued at $294,747,000 after acquiring an additional 1,414,129 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Builders FirstSource by 235.1% in the third quarter. Victory Capital Management Inc. now owns 1,893,483 shares of the company’s stock worth $229,585,000 after purchasing an additional 1,328,363 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Barclays decreased their price objective on Builders FirstSource from $114.00 to $93.00 and set an “overweight” rating for the company in a report on Friday, May 1st. KeyCorp decreased their price objective on Builders FirstSource from $145.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Loop Capital decreased their price objective on Builders FirstSource from $140.00 to $110.00 in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on Builders FirstSource from $102.00 to $81.00 and set a “hold” rating for the company in a report on Monday, May 4th. Finally, Wells Fargo & Company decreased their price objective on Builders FirstSource from $87.00 to $85.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Nine analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned 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 $101.88.

Builders FirstSource Trading Up 1.1%

NYSE BLDR opened at $78.69 on Wednesday. Builders FirstSource, Inc. has a 12 month low of $65.10 and a 12 month high of $151.03. The stock has a market cap of $8.46 billion, a P/E ratio of 30.15, a P/E/G ratio of 1.87 and a beta of 1.44. The stock’s fifty day moving average price is $79.24 and its 200-day moving average price is $96.71. The company has a current ratio of 1.76, a quick ratio of 1.09 and a debt-to-equity ratio of 1.15.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Thursday, April 30th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.12). Builders FirstSource had a return on equity of 14.89% and a net margin of 1.97%.The company had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.17 billion. During the same period in the prior year, the company posted $1.51 earnings per share. The company’s revenue was down 10.1% on a year-over-year basis. As a group, equities analysts forecast that Builders FirstSource, Inc. will post 4.26 EPS for the current fiscal year.

Builders FirstSource announced that its board has approved a share repurchase program on Thursday, April 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

About Builders FirstSource

Builders FirstSource, Inc is a leading supplier of structural and value-added building products and services to professional contractors, homebuilders and remodelers. The company provides a comprehensive range of materials and prefabricated components that support all phases of residential construction, from site development and framing to finishing and installation.

The company’s core offerings include lumber and lumber sheet goods, windows and doors, millwork, roofing and siding, and engineered wood products such as roof and floor trusses.