Tredje AP fonden Reduces Position in Builders FirstSource, Inc. (NYSE:BLDR)

Tredje AP fonden trimmed its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 2.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,753 shares of the company’s stock after selling 95 shares during the period. Tredje AP fonden’s holdings in Builders FirstSource were worth $519,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Westside Investment Management Inc. acquired a new position in Builders FirstSource during the first quarter worth $31,000. ORG Partners LLC acquired a new position in shares of Builders FirstSource during the 1st quarter valued at about $33,000. American Capital Advisory LLC purchased a new stake in shares of Builders FirstSource in the first quarter valued at about $34,000. Principal Securities Inc. acquired a new stake in Builders FirstSource during the fourth quarter worth about $32,000. Finally, Innealta Capital LLC purchased a new position in Builders FirstSource during the second quarter worth about $27,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the business’s 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 owns 95,333 shares in the company, valued at approximately $14,650,775.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BLDR. B. Riley cut their price target on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Truist Financial raised Builders FirstSource from a “hold” rating to a “buy” rating and raised their target price for the stock from $165.00 to $220.00 in a research note on Monday, September 16th. Baird R W raised Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Robert W. Baird raised Builders FirstSource from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $185.00 to $190.00 in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus lowered their target price on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.00.

Builders FirstSource Stock Performance

Shares of BLDR stock opened at $197.74 on Friday. The stock 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 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, Inc. has a 52 week low of $105.24 and a 52 week high of $214.70. The firm has a 50 day moving average of $167.76 and a two-hundred day moving average of $171.06.

Builders FirstSource (NYSE:BLDR) last released its 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. The firm had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.48 billion. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. Builders FirstSource’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.89 EPS. On average, research analysts predict that Builders FirstSource, Inc. will post 11.65 EPS for the current fiscal year.

Builders FirstSource announced that its Board of Directors has initiated a share buyback program on Tuesday, August 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are 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.