State of New Jersey Common Pension Fund D Cuts Position in Builders FirstSource, Inc. (NYSE:BLDR)

State of New Jersey Common Pension Fund D lessened its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 36.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,695 shares of the company’s stock after selling 25,127 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Builders FirstSource were worth $6,186,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its holdings in Builders FirstSource by 42.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after buying an additional 75 shares in the last quarter. Team Hewins LLC boosted its holdings in shares of Builders FirstSource by 6.5% in the 1st quarter. Team Hewins LLC now owns 1,313 shares of the company’s stock worth $274,000 after purchasing an additional 80 shares during the period. Csenge Advisory Group boosted its holdings in shares of Builders FirstSource by 1.9% in the 2nd quarter. Csenge Advisory Group now owns 4,252 shares of the company’s stock worth $589,000 after purchasing an additional 81 shares during the period. Congress Wealth Management LLC DE boosted its holdings in shares of Builders FirstSource by 1.4% in the 4th quarter. Congress Wealth Management LLC DE now owns 6,197 shares of the company’s stock worth $1,035,000 after purchasing an additional 85 shares during the period. Finally, Quarry LP boosted its holdings in shares of Builders FirstSource by 49.7% in the 4th quarter. Quarry LP now owns 280 shares of the company’s stock worth $47,000 after purchasing an additional 93 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on BLDR. Baird R W upgraded Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Bank of America cut Builders FirstSource from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $183.00 to $180.00 in a report on Friday, August 2nd. B. Riley dropped 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. Robert W. Baird upgraded Builders FirstSource from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $185.00 to $190.00 in a report on Wednesday, August 7th. Finally, Stifel Nicolaus dropped their price objective on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Six research analysts have rated the stock with a hold rating, ten have given 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 a consensus price target of $181.57.

Builders FirstSource Price Performance

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

Builders FirstSource (NYSE:BLDR) last issued its earnings results 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. 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 during the quarter, compared to analysts’ expectations of $4.48 billion. During the same period in the prior year, the business earned $3.89 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, analysts predict that Builders FirstSource, Inc. will post 11.65 EPS for the current fiscal year.

Builders FirstSource declared that its board has approved a stock buyback program on Tuesday, August 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Builders FirstSource

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

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.