Fred Alger Management invests $51.52M in Builders FirstSource, which launches $1B stock buyback.

Fred Alger Management LLC invested $51.52 million in Builders FirstSource, Inc., purchasing 265,740 shares. Despite slightly missing earnings expectations, the company initiated a $1 billion stock buyback program. Several other institutional investors also adjusted their stakes in the company. Builders FirstSource, which manufactures and supplies building materials, has a market cap of $21.26 billion and a P/E ratio of 18.04.

November 29, 2024
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