Cetera Investment Advisers Reduces Position in Builders FirstSource, Inc. (NYSE:BLDR)

Cetera Investment Advisers lowered its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 21.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,065 shares of the company’s stock after selling 10,917 shares during the period. Cetera Investment Advisers’ holdings in Builders FirstSource were worth $5,545,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Elo Mutual Pension Insurance Co boosted its stake in Builders FirstSource by 1.8% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 10,916 shares of the company’s stock valued at $1,822,000 after acquiring an additional 189 shares during the last quarter. State of Tennessee Treasury Department lifted its position in shares of Builders FirstSource by 63.5% during the fourth quarter. State of Tennessee Treasury Department now owns 109,284 shares of the company’s stock worth $18,244,000 after purchasing an additional 42,464 shares during the last quarter. Bridgewater Associates LP increased its holdings in Builders FirstSource by 1.8% in the fourth quarter. Bridgewater Associates LP now owns 146,372 shares of the company’s stock valued at $24,435,000 after buying an additional 2,557 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in Builders FirstSource by 34.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,133,751 shares of the company’s stock valued at $189,268,000 after buying an additional 292,966 shares in the last quarter. Finally, Pitcairn Co. lifted its holdings in Builders FirstSource by 37.2% during the 4th quarter. Pitcairn Co. now owns 21,051 shares of the company’s stock worth $3,514,000 after buying an additional 5,704 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BLDR. Truist Financial raised Builders FirstSource from a “hold” rating to a “buy” rating and upped their price target for the company from $165.00 to $220.00 in a research report on Monday, September 16th. Robert W. Baird raised shares of 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 report on Wednesday, August 7th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $185.00 price target (down from $205.00) on shares of Builders FirstSource in a report on Friday, August 9th. Zelman & Associates reiterated a “hold” rating on shares of Builders FirstSource in a research note on Monday, June 17th. Finally, Bank of America lifted their target price on Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Builders FirstSource has an average rating of “Moderate Buy” and an average price target of $190.00.

Builders FirstSource Stock Performance

Shares of BLDR opened at $193.48 on Wednesday. The firm has a market capitalization of $23.62 billion, a PE ratio of 16.57, a P/E/G ratio of 11.56 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. The firm has a 50-day moving average price of $175.50 and a 200 day moving average price of $170.02. Builders FirstSource, Inc. has a 52-week low of $105.24 and a 52-week high of $214.70.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.48. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The business had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.48 billion. During the same period last year, the firm posted $3.89 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. On average, sell-side analysts anticipate that Builders FirstSource, Inc. will post 11.68 earnings per share for the current fiscal year.

Builders FirstSource announced that its Board of Directors has approved a share repurchase plan on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling 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 sale, the director now owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by corporate insiders.

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.