Diamond Hill Capital Management LLC Investment Advisor Buys New Position in Builders FirstSource, Inc. $BLDR

Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,507,684 shares of the company’s stock, valued at approximately $134,908,000. Builders FirstSource comprises 1.1% of Diamond Hill Capital Management LLC Investment Advisor’s holdings, making the stock its 29th biggest holding.

Other institutional investors also recently added to or reduced their stakes in the company. Schwartz Investment Counsel Inc. increased its holdings in shares of Builders FirstSource by 17.1% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 95,800 shares of the company’s stock valued at $9,857,000 after acquiring an additional 14,000 shares during the period. Eagle Global Advisors LLC boosted its stake in Builders FirstSource by 46.3% during the 4th quarter. Eagle Global Advisors LLC now owns 60,242 shares of the company’s stock worth $6,198,000 after purchasing an additional 19,062 shares during the period. Fiera Capital Corp grew its position in Builders FirstSource by 36.0% during the 4th quarter. Fiera Capital Corp now owns 653,839 shares of the company’s stock worth $67,273,000 after purchasing an additional 173,230 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Builders FirstSource by 10.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 238,867 shares of the company’s stock worth $24,993,000 after purchasing an additional 22,270 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its stake in Builders FirstSource by 13.4% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 1,872,708 shares of the company’s stock valued at $192,683,000 after purchasing an additional 221,641 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on BLDR shares. DA Davidson set a $68.00 target price on shares of Builders FirstSource in a report on Friday, July 31st. Benchmark lowered their price target on Builders FirstSource from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. KeyCorp dropped their price target on Builders FirstSource from $100.00 to $91.00 and set an “overweight” rating on the stock in a research report on Monday, July 13th. Wells Fargo & Company reduced their price objective on Builders FirstSource from $85.00 to $65.00 and set an “equal weight” rating for the company in a research note on Friday, July 31st. Finally, Barclays decreased their price objective on Builders FirstSource from $93.00 to $81.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Builders FirstSource currently has an average rating of “Hold” and a consensus target price of $90.35.

Builders FirstSource Stock Performance

Shares of BLDR opened at $72.52 on Monday. The stock has a market capitalization of $7.80 billion, a P/E ratio of 79.69, a P/E/G ratio of 2.35 and a beta of 1.44. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.09 and a current ratio of 1.79. Builders FirstSource, Inc. has a 1 year low of $65.10 and a 1 year high of $151.03. The company’s fifty day moving average is $76.59 and its two-hundred day moving average is $85.98.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Thursday, July 30th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.08). The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.91 billion. Builders FirstSource had a return on equity of 11.73% and a net margin of 0.71%.The firm’s revenue was down 8.8% on a year-over-year basis. During the same quarter last year, the business posted $2.38 EPS. On average, sell-side analysts predict that Builders FirstSource, Inc. will post 3.15 earnings per share for the current year.

Builders FirstSource announced that its Board of Directors has approved a share buyback plan on Thursday, April 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Builders FirstSource Company Profile

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.