Rempart Asset Management Inc. Purchases 260,857 Shares of Builders FirstSource, Inc. $BLDR

Rempart Asset Management Inc. purchased a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 260,857 shares of the company’s stock, valued at approximately $14,871,000. Builders FirstSource comprises about 2.6% of Rempart Asset Management Inc.’s portfolio, making the stock its 17th biggest position.

A number of other hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Builders FirstSource during the second quarter worth about $700,934,000. Dimensional Fund Advisors LP raised its stake in Builders FirstSource by 12.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,967,744 shares of the company’s stock worth $244,301,000 after purchasing an additional 325,935 shares during the period. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Builders FirstSource in the 2nd quarter valued at about $134,908,000. Pictet Asset Management Holding SA boosted its holdings in Builders FirstSource by 74.6% in the 1st 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 during the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Builders FirstSource in the 2nd quarter valued at approximately $83,832,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Builders FirstSource Trading Up 1.7%

NYSE BLDR opened at $53.87 on Wednesday. The firm’s 50-day moving average is $61.29 and its two-hundred day moving average is $72.24. Builders FirstSource, Inc. has a 12 month low of $49.67 and a 12 month high of $131.50. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.79 and a quick ratio of 1.09. The stock has a market capitalization of $5.80 billion, a P/E ratio of 59.20, a PEG ratio of 1.73 and a beta of 1.45.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.08). Builders FirstSource had a net margin of 0.71% and a return on equity of 11.73%. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the prior year, the business earned $2.38 earnings per share. Builders FirstSource’s revenue was down 8.8% on a year-over-year basis. On average, sell-side analysts anticipate that Builders FirstSource, Inc. will post 3.13 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. BMO Capital Markets restated a “market perform” rating and set a $80.00 price target on shares of Builders FirstSource in a report on Thursday, August 6th. Barclays decreased their price objective on Builders FirstSource from $93.00 to $81.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Robert W. Baird set a $75.00 price objective on Builders FirstSource in a research report on Friday, July 31st. Oppenheimer cut their target price on Builders FirstSource from $90.00 to $78.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Zacks Research raised Builders FirstSource from a “strong sell” rating to a “hold” rating in a research note on Friday, October 2nd. Nine equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $82.25.

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.