NewEdge Advisors LLC Reduces Stake in Builders FirstSource, Inc. (NYSE:BLDR)

NewEdge Advisors LLC trimmed its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 68.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,700 shares of the company’s stock after selling 14,810 shares during the quarter. NewEdge Advisors LLC’s holdings in Builders FirstSource were worth $927,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Kathmere Capital Management LLC grew its stake in Builders FirstSource by 2.4% in the 2nd quarter. Kathmere Capital Management LLC now owns 5,534 shares of the company’s stock valued at $766,000 after acquiring an additional 128 shares during the last quarter. Scientech Research LLC grew its position in shares of Builders FirstSource by 210.0% in the second quarter. Scientech Research LLC now owns 10,593 shares of the company’s stock valued at $1,466,000 after purchasing an additional 7,176 shares during the last quarter. Duquesne Family Office LLC purchased a new position in shares of Builders FirstSource during the 2nd quarter worth approximately $4,067,000. APG Asset Management N.V. raised its position in shares of Builders FirstSource by 4.3% during the 2nd quarter. APG Asset Management N.V. now owns 331,136 shares of the company’s stock worth $42,764,000 after purchasing an additional 13,621 shares during the last quarter. Finally, AXA S.A. lifted its stake in Builders FirstSource by 3.1% in the 2nd quarter. AXA S.A. now owns 51,478 shares of the company’s stock valued at $7,125,000 after buying an additional 1,562 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Insider Transactions at Builders FirstSource

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the stock in a transaction 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 transaction, the director now directly owns 95,333 shares in the company, valued at $14,650,775.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.80% of the company’s stock.

Builders FirstSource Price Performance

Shares of BLDR stock opened at $192.18 on Tuesday. The firm has a fifty day simple moving average of $174.99 and a 200-day simple moving average of $170.14. The company has a market capitalization of $23.46 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 11.56 and a beta of 2.06. Builders FirstSource, Inc. has a twelve month low of $105.24 and a twelve month high of $214.70. 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 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. Equities research analysts anticipate that Builders FirstSource, Inc. will post 11.68 earnings per share for the current fiscal year.

Builders FirstSource declared that its Board of Directors has approved a stock repurchase program on Tuesday, August 6th that permits the company to repurchase $1.00 billion in 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 management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BLDR. Royal Bank of Canada cut their price target on Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Loop Capital raised their price target on shares of Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Jefferies Financial Group reissued a “buy” rating and issued a $185.00 price objective (down previously from $205.00) on shares of Builders FirstSource in a research report on Friday, August 9th. StockNews.com upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating in a research report on Monday, September 23rd. Finally, Robert W. Baird raised Builders FirstSource from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $185.00 to $190.00 in a research note on Wednesday, August 7th. 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.00.

Builders FirstSource Company 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.