M&G PLC Acquires 3,968,598 Shares of Builders FirstSource, Inc. $BLDR

M&G PLC acquired a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) during the third quarter, HoldingsChannel reports. The institutional investor acquired 3,968,598 shares of the company’s stock, valued at approximately $226,250,000. Builders FirstSource comprises about 1.1% of M&G PLC’s investment portfolio, making the stock its 26th biggest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLDR. Kestra Investment Management LLC purchased a new position in Builders FirstSource in the 3rd quarter valued at about $400,000. Leuthold Group LLC acquired a new stake in shares of Builders FirstSource during the 3rd quarter worth about $251,000. Retirement Systems of Alabama boosted its stake in shares of Builders FirstSource by 7,181.9% during the 3rd quarter. Retirement Systems of Alabama now owns 1,645,420 shares of the company’s stock worth $93,805,000 after purchasing an additional 1,622,824 shares during the last quarter. Private Management Group Inc. purchased a new stake in shares of Builders FirstSource during the third quarter worth about $639,000. Finally, Clear Wave Wealth Management LLC purchased a new stake in shares of Builders FirstSource during the third quarter worth about $170,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BLDR shares. Barclays cut their price objective on shares of Builders FirstSource from $81.00 to $70.00 and set an “overweight” rating for the company in a research report on Friday, October 30th. Zacks Research upgraded shares of Builders FirstSource from a “strong sell” rating to a “hold” rating in a research report on Friday, October 2nd. Benchmark lowered their target price on shares of Builders FirstSource from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Citigroup reiterated a “market perform” rating on shares of Builders FirstSource in a report on Thursday, October 8th. Finally, KeyCorp cut their price target on Builders FirstSource from $91.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, October 30th. Seven research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $75.55.

Builders FirstSource Trading Up 5.3%

NYSE BLDR opened at $65.88 on Tuesday. Builders FirstSource, Inc. has a 12 month low of $49.67 and a 12 month high of $131.50. The company has a 50-day moving average of $58.90 and a 200-day moving average of $78.91. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.85 and a quick ratio of 1.14. The company has a market cap of $7.09 billion, a P/E ratio of 178.06, a P/E/G ratio of 1.93 and a beta of 1.41.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Thursday, October 29th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.45. Builders FirstSource had a net margin of 0.28% and a return on equity of 10.77%. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same period last year, the company earned $1.88 earnings per share. The company’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, equities analysts predict that Builders FirstSource, Inc. will post 3.68 earnings per share for the current year.

About Builders FirstSource