OVERSEA CHINESE BANKING Corp Ltd Trims Stock Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

OVERSEA CHINESE BANKING Corp Ltd lowered its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 31.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,259 shares of the company’s stock after selling 588 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Builders FirstSource were worth $244,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Armstrong Advisory Group Inc. purchased a new stake in shares of Builders FirstSource during the third quarter valued at $30,000. Innealta Capital LLC purchased a new stake in Builders FirstSource in the 2nd quarter valued at about $27,000. Reston Wealth Management LLC purchased a new stake in shares of Builders FirstSource in the third quarter valued at approximately $39,000. First Horizon Advisors Inc. grew its position in shares of Builders FirstSource by 42.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after buying an additional 75 shares in the last quarter. Finally, Friedenthal Financial bought a new position in Builders FirstSource during the 3rd quarter worth about $50,000. Institutional investors own 95.53% of the company’s stock.

Insider Activity

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of Builders FirstSource stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the completion of the sale, the director now directly owns 33,083 shares in the company, valued at $5,902,338.03. This trade represents a 23.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.80% of the company’s stock.

Builders FirstSource Stock Up 0.7 %

Shares of BLDR opened at $181.21 on Friday. Builders FirstSource, Inc. has a 52-week low of $128.57 and a 52-week high of $214.70. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 0.83. The stock has a fifty day simple moving average of $185.68 and a two-hundred day simple moving average of $168.35. The company has a market capitalization of $20.85 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 1.00 and a beta of 2.08.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings data on Tuesday, November 5th. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.02). The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.44 billion. Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. Builders FirstSource’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.24 earnings per share. As a group, equities analysts forecast that Builders FirstSource, Inc. will post 11.56 EPS for the current year.

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

Wall Street Analyst Weigh In

BLDR has been the topic of a number of analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price target on shares of Builders FirstSource in a report on Tuesday, October 29th. Wedbush restated an “outperform” rating and set a $230.00 target price on shares of Builders FirstSource in a research report on Wednesday, November 6th. Royal Bank of Canada raised their target price on Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Stephens boosted their price target on Builders FirstSource from $178.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Loop Capital increased their target price on Builders FirstSource from $190.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $206.47.

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.