Pinnacle Associates Ltd. Makes New $9.89 Million Investment in Builders FirstSource, Inc. $BLDR

Pinnacle Associates Ltd. acquired a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 173,559 shares of the company’s stock, valued at approximately $9,895,000.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Builders FirstSource in the 2nd quarter worth $700,934,000. Dimensional Fund Advisors LP lifted its position in shares of Builders FirstSource by 12.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,967,744 shares of the company’s stock valued at $244,301,000 after purchasing an additional 325,935 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Builders FirstSource during the second quarter valued at about $134,908,000. Pictet Asset Management Holding SA lifted its position in shares of Builders FirstSource by 74.6% during the first quarter. Pictet Asset Management Holding SA now owns 1,378,332 shares of the company’s stock valued at $113,478,000 after purchasing an additional 588,987 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in Builders FirstSource during the second quarter worth about $83,832,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BLDR has been the subject of a number of recent analyst reports. Citizens Jmp initiated coverage on shares of Builders FirstSource in a research report on Friday, August 21st. They issued a “market perform” rating for the company. Robert W. Baird set a $75.00 price objective on shares of Builders FirstSource in a research note on Friday, July 31st. KeyCorp dropped their target price on shares of Builders FirstSource from $100.00 to $91.00 and set an “overweight” rating on the stock in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft set a $66.00 target price on shares of Builders FirstSource in a research report on Friday, July 31st. Finally, Citigroup restated a “market perform” rating on shares of Builders FirstSource in a research note on Thursday, October 8th. Nine research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $82.25.

Builders FirstSource Price Performance

Shares of NYSE BLDR opened at $53.51 on Thursday. The company has a current ratio of 1.79, a quick ratio of 1.09 and a debt-to-equity ratio of 1.14. The stock has a fifty day simple moving average of $60.92 and a two-hundred day simple moving average of $72.06. Builders FirstSource, Inc. has a 1-year low of $49.67 and a 1-year high of $131.50. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 58.80, a price-to-earnings-growth ratio of 1.76 and a beta of 1.45.

Builders FirstSource (NYSE:BLDR) last issued its earnings results on Thursday, July 30th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.08). Builders FirstSource had a net margin of 0.71% and a return on equity of 11.73%. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the previous year, the firm earned $2.38 earnings per share. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. Analysts anticipate that Builders FirstSource, Inc. will post 3.13 earnings per share for the current year.

About Builders FirstSource

Builders FirstSource, Inc is a supplier of building materials, manufactured components and construction services for professional homebuilders, remodelers and other construction customers in the United States. The company provides products used throughout the residential construction process, from structural framing to interior and exterior finishes.

Its offerings include lumber and engineered wood products, roof and floor trusses, wall panels, prefabricated components, windows, doors, millwork, cabinets, roofing, siding, insulation, gypsum and related hardware.