Mercer Global Advisors Inc. ADV Has $1.97 Million Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Mercer Global Advisors Inc. ADV reduced its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 3.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,099 shares of the company’s stock after selling 470 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Builders FirstSource were worth $1,967,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BLDR. Innealta Capital LLC acquired a new stake in Builders FirstSource in the 2nd quarter worth approximately $27,000. Westside Investment Management Inc. bought a new stake in shares of Builders FirstSource during the 1st quarter worth $31,000. Principal Securities Inc. acquired a new position in Builders FirstSource in the 4th quarter valued at $32,000. ORG Partners LLC bought a new position in Builders FirstSource in the 1st quarter worth $33,000. Finally, American Capital Advisory LLC acquired a new position in Builders FirstSource during the 1st quarter worth $34,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

BLDR has been the topic of a number of recent analyst reports. StockNews.com upgraded Builders FirstSource from a “hold” rating to a “buy” rating in a research note on Monday. Robert W. Baird raised Builders FirstSource from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $185.00 to $190.00 in a research report on Wednesday, August 7th. Baird R W upgraded shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and upped their target price for the company from $165.00 to $220.00 in a research note on Monday, September 16th. Finally, Zelman & Associates restated a “hold” rating on shares of Builders FirstSource in a report on Monday, June 17th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $190.00.

Insiders Place Their Bets

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the stock in a transaction dated 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 sale, the director now owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

Builders FirstSource Stock Down 1.0 %

Shares of NYSE BLDR opened at $195.81 on Tuesday. Builders FirstSource, Inc. has a 52-week low of $105.24 and a 52-week high of $214.70. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. The business has a fifty day moving average of $168.61 and a two-hundred day moving average of $170.60. The stock has a market cap of $23.90 billion, a PE ratio of 16.76, a PEG ratio of 10.06 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, topping the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.89 earnings per share. As a group, equities research analysts expect that Builders FirstSource, Inc. will post 11.65 earnings per share for the current fiscal year.

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

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.