Salem Investment Counselors Inc. Has $469,000 Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Salem Investment Counselors Inc. raised its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 19.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,280 shares of the company’s stock after purchasing an additional 545 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Builders FirstSource were worth $469,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Mountaineer Partners Management LLC acquired a new position in shares of Builders FirstSource during the 3rd quarter valued at $2,099,877,000. FMR LLC boosted its position in shares of Builders FirstSource by 45.7% during the 3rd quarter. FMR LLC now owns 10,158,152 shares of the company’s stock worth $1,969,259,000 after purchasing an additional 3,186,876 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Builders FirstSource by 23.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,458,255 shares of the company’s stock worth $282,697,000 after purchasing an additional 277,897 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in shares of Builders FirstSource in the 3rd quarter valued at about $267,132,000. Finally, Diamond Hill Capital Management Inc. bought a new stake in Builders FirstSource in the 3rd quarter valued at about $255,867,000. Institutional investors own 95.53% of the company’s stock.

Insiders Place Their Bets

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $178.41, for a total value of $1,784,100.00. Following the sale, the director now directly owns 33,083 shares in the company, valued at $5,902,338.03. The trade was a 23.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on BLDR. Royal Bank of Canada raised their price objective on Builders FirstSource from $178.00 to $187.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group began coverage on shares of Builders FirstSource in a research report on Thursday, October 10th. They issued a “buy” rating and a $225.00 price target for the company. Stephens upped their price objective on shares of Builders FirstSource from $178.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price objective on shares of Builders FirstSource in a research note on Tuesday, October 29th. Finally, Loop Capital boosted their target price on shares of Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $208.75.

Builders FirstSource Stock Performance

Shares of BLDR opened at $146.61 on Tuesday. The stock has a 50 day moving average of $166.00 and a 200 day moving average of $169.03. The company has a market capitalization of $16.87 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 0.96 and a beta of 2.11. Builders FirstSource, Inc. has a 12 month low of $130.75 and a 12 month high of $214.70. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83.

Builders FirstSource (NYSE:BLDR) last announced its earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.02). The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the prior year, the business earned $4.24 earnings per share. As a group, sell-side analysts forecast that Builders FirstSource, Inc. will post 11.55 earnings per share for the current year.

About Builders FirstSource

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.