Hancock Whitney Corp Cuts Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Hancock Whitney Corp cut its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 0.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,842 shares of the company’s stock after selling 212 shares during the quarter. Hancock Whitney Corp’s holdings in Builders FirstSource were worth $3,715,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BLDR. Ensign Peak Advisors Inc grew its position in Builders FirstSource by 9.5% during the second quarter. Ensign Peak Advisors Inc now owns 214,570 shares of the company’s stock valued at $29,699,000 after acquiring an additional 18,686 shares during the last quarter. Lodge Hill Capital LLC grew its holdings in shares of Builders FirstSource by 179.3% during the 2nd quarter. Lodge Hill Capital LLC now owns 210,300 shares of the company’s stock valued at $29,108,000 after purchasing an additional 135,000 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in Builders FirstSource by 1.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 14,954 shares of the company’s stock worth $2,070,000 after purchasing an additional 273 shares during the period. King Luther Capital Management Corp lifted its stake in Builders FirstSource by 0.9% in the second quarter. King Luther Capital Management Corp now owns 11,267 shares of the company’s stock worth $1,559,000 after purchasing an additional 104 shares during the last quarter. Finally, Bridges Investment Management Inc. purchased a new stake in Builders FirstSource during the second quarter valued at about $546,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the completion of the transaction, the director now directly owns 95,333 shares in the company, valued at $14,650,775.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

BLDR has been the subject of a number of recent research reports. Oppenheimer boosted their target price on Builders FirstSource from $205.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday. Wedbush reiterated an “outperform” rating and issued a $175.00 price objective on shares of Builders FirstSource in a research report on Tuesday, August 6th. Stifel Nicolaus cut their target price on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Benchmark lowered their price target on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Truist Financial raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and increased their price target for the company from $165.00 to $220.00 in a research report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $190.00.

Builders FirstSource Trading Down 2.0 %

NYSE BLDR opened at $197.74 on Friday. The firm has a market capitalization of $24.14 billion, a PE ratio of 16.93, a P/E/G ratio of 10.06 and a beta of 2.06. The stock’s 50 day moving average is $167.76 and its 200 day moving average is $170.87. Builders FirstSource, Inc. has a twelve month low of $105.24 and a twelve month high of $214.70. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88.

Builders FirstSource (NYSE:BLDR) last announced its earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.48. The firm had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.89 EPS. Research analysts forecast that Builders FirstSource, Inc. will post 11.65 earnings per share for the current fiscal year.

Builders FirstSource declared that its Board of Directors has initiated a share buyback program on Tuesday, August 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 5.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Builders FirstSource Profile

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.