Builders FirstSource, Inc. (NYSE:BLDR) Position Cut by Lmcg Investments LLC

Lmcg Investments LLC lowered its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 0.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 10,009 shares of the company’s stock after selling 85 shares during the period. Lmcg Investments LLC’s holdings in Builders FirstSource were worth $1,385,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of BLDR. First Horizon Advisors Inc. raised its stake 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 acquiring an additional 75 shares in the last quarter. Team Hewins LLC raised its stake in shares of Builders FirstSource by 6.5% during the first quarter. Team Hewins LLC now owns 1,313 shares of the company’s stock valued at $274,000 after purchasing an additional 80 shares in the last quarter. Csenge Advisory Group lifted its holdings in Builders FirstSource by 1.9% in the second 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 grew its position in Builders FirstSource by 1.4% in the 4th quarter. Congress Wealth Management LLC DE now owns 6,197 shares of the company’s stock valued at $1,035,000 after buying an additional 85 shares in the last quarter. Finally, Wealthspire Advisors LLC increased its stake in Builders FirstSource by 4.6% during the 2nd quarter. Wealthspire Advisors LLC now owns 2,031 shares of the company’s stock valued at $281,000 after buying an additional 90 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on BLDR. Wedbush reiterated an “outperform” rating and issued a $175.00 price objective on shares of Builders FirstSource in a report on Tuesday, August 6th. Robert W. Baird raised Builders FirstSource from a “neutral” rating to an “outperform” rating and increased their price target for the company from $185.00 to $190.00 in a research note on Wednesday, August 7th. Bank of America downgraded Builders FirstSource from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $183.00 to $180.00 in a research note on Friday, August 2nd. Oppenheimer raised their target price on Builders FirstSource from $190.00 to $205.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. Finally, B. Riley lowered their target price on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $184.43.

Builders FirstSource Trading Up 3.3 %

Builders FirstSource stock opened at $193.89 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. The business’s 50-day simple moving average is $163.42 and its 200-day simple moving average is $170.74. The firm has a market capitalization of $23.67 billion, a PE ratio of 16.60, a PEG ratio of 10.06 and a beta of 2.06. Builders FirstSource, Inc. has a 52 week low of $105.24 and a 52 week high of $214.70.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The company had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.48 billion. During the same period last year, the firm earned $3.89 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities research analysts forecast that Builders FirstSource, Inc. will post 11.65 earnings per share for the current year.

Builders FirstSource announced that its board has initiated a stock buyback plan on Tuesday, August 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Builders FirstSource

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the completion of the sale, the director now directly owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.80% of the company’s stock.

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.