Massachusetts Financial Services Co. has increased its investment in Builders FirstSource, Inc. (NYSE: BLDR) by 5.0% during the second quarter of 2023. According to its recent 13F filing with the Securities and Exchange Commission (SEC), the firm now holds a total of 1,556,151 shares after acquiring an additional 74,681 shares. This represents approximately 1.41% ownership in Builders FirstSource, valued at around $181.6 million at the close of the quarter.
Several other institutional investors and hedge funds have also adjusted their stakes in Builders FirstSource recently. For instance, Stephens Inc. raised its position by 3.1% during the second quarter, bringing its total to 3,032 shares worth $354,000. Meanwhile, Smartleaf Asset Management LLC increased its holdings by an impressive 21.0% in the first quarter, now owning 627 shares valued at $78,000.
Horizon Investments LLC also boosted its investment by 5.5% during the same period, resulting in ownership of 2,205 shares valued at $275,000. Similarly, New Age Alpha Advisors LLC raised its stake by 22.8%, acquiring 640 shares worth $80,000. The Police & Firemen’s Retirement System of New Jersey increased its holdings by 0.8%, now owning 16,858 shares valued at $1.97 million. Collectively, institutional investors and hedge funds own approximately 95.53% of Builders FirstSource’s stock.
Current Market Performance
As of October 30, 2023, shares of Builders FirstSource opened at $103.25. The company has experienced a 52-week low of $102.60 and a high of $194.36. Builders FirstSource maintains a debt-to-equity ratio of 1.12, with a quick ratio of 1.08 and a current ratio of 1.79. The firm’s market capitalization stands at $11.42 billion, with a price-to-earnings (P/E) ratio of 15.67 and a price-to-earnings-growth (PEG) ratio of 12.90.
Analysts have recently provided new price targets for Builders FirstSource. KeyCorp set a target of $145.00 on October 1, 2023, while Robert W. Baird suggested a price objective of $135.00 on October 31, 2023. Loop Capital revised its target from $145.00 to $140.00, and Baird downgraded the stock from a “strong-buy” rating to a “hold” rating on August 1, 2023. The Goldman Sachs Group also lowered its price target from $147.00 to $146.00 on October 31.
Currently, ten analysts have assigned a Buy rating to the stock, while ten have given it a Hold rating and two have recommended selling. According to MarketBeat, Builders FirstSource has an average rating of “Hold” with a consensus price target of $138.13.
About Builders FirstSource
Builders FirstSource, Inc. is a prominent supplier of building materials and manufactured components for professional homebuilders, subcontractors, remodelers, and consumers across the United States. The company offers a variety of products including dimensional lumber, plywood, engineered wood products, and custom items such as intricate mouldings and columns.
For those interested in following the latest developments regarding Builders FirstSource and its stakeholders, HoldingsChannel.com provides updated 13F filings and insider trading reports. Additionally, MarketBeat.com offers a daily summary of news and analyst ratings for Builders FirstSource and its industry peers.
