American Century Companies Inc. Trims Position in Builders FirstSource, Inc. (NYSE:BLDR)

American Century Companies Inc. reduced its position in Builders FirstSource, Inc. (NYSE:BLDR) by 20.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 397,140 shares of the company’s stock after selling 102,112 shares during the period. American Century Companies Inc. owned about 0.33% of Builders FirstSource worth $54,968,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Brasada Capital Management LP grew its position in shares of Builders FirstSource by 4.4% in the second quarter. Brasada Capital Management LP now owns 21,132 shares of the company’s stock valued at $3,104,000 after purchasing an additional 881 shares during the period. Headlands Technologies LLC grew its holdings in Builders FirstSource by 107.7% in the 2nd quarter. Headlands Technologies LLC now owns 11,052 shares of the company’s stock valued at $1,530,000 after buying an additional 5,730 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Builders FirstSource by 1.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 20,937 shares of the company’s stock valued at $2,898,000 after acquiring an additional 278 shares during the last quarter. Andra AP fonden lifted its holdings in shares of Builders FirstSource by 4.1% during the 2nd quarter. Andra AP fonden now owns 201,700 shares of the company’s stock worth $27,917,000 after acquiring an additional 8,000 shares during the period. Finally, Levin Capital Strategies L.P. boosted its position in shares of Builders FirstSource by 366.7% in the second quarter. Levin Capital Strategies L.P. now owns 7,000 shares of the company’s stock worth $969,000 after acquiring an additional 5,500 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Builders FirstSource Stock Performance

Shares of BLDR stock opened at $183.30 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.14. The company’s fifty day moving average price is $162.36 and its two-hundred day moving average price is $170.95. The firm has a market capitalization of $22.37 billion, a P/E ratio of 15.69, a P/E/G ratio of 10.06 and a beta of 2.06. Builders FirstSource, Inc. has a 12 month low of $105.24 and a 12 month high of $214.70.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.02 by $0.48. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The business had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. During the same quarter in the previous year, the firm posted $3.89 earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year. On average, research analysts anticipate 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 initiated a stock buyback plan on Tuesday, August 6th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 5.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Builders FirstSource

In related news, Director Craig Arthur Steinke sold 30,000 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following the sale, the director now directly owns 95,333 shares of the company’s stock, valued at $14,650,775.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

BLDR has been the subject of several research analyst reports. Baird R W raised shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Robert W. Baird raised Builders FirstSource from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $185.00 to $190.00 in a research report on Wednesday, August 7th. Barclays lowered their price target on Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Jefferies Financial Group restated a “buy” rating and issued a $185.00 price objective (down from $205.00) on shares of Builders FirstSource in a report on Friday, August 9th. Finally, B. Riley decreased their target price on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Builders FirstSource currently has an average rating of “Moderate Buy” and an average price target of $181.57.

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.