Zurcher Kantonalbank Zurich Cantonalbank Lowers Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 55.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,574 shares of the company’s stock after selling 48,041 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Builders FirstSource were worth $7,478,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Janus Henderson Group PLC lifted its position in Builders FirstSource by 21.1% during the 1st quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock worth $4,173,000 after acquiring an additional 3,483 shares during the period. Atria Investments Inc raised its stake in shares of Builders FirstSource by 39.1% during the first quarter. Atria Investments Inc now owns 9,781 shares of the company’s stock worth $2,040,000 after purchasing an additional 2,750 shares during the last quarter. Cetera Investment Advisers grew its position in Builders FirstSource by 762.2% in the 1st quarter. Cetera Investment Advisers now owns 50,982 shares of the company’s stock valued at $10,632,000 after buying an additional 45,069 shares during the last quarter. Cetera Advisors LLC grew its position in Builders FirstSource by 110.0% in the 1st quarter. Cetera Advisors LLC now owns 7,948 shares of the company’s stock valued at $1,658,000 after buying an additional 4,163 shares during the last quarter. Finally, First Hawaiian Bank acquired a new position in Builders FirstSource in the 2nd quarter valued at $261,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Insider Transactions at Builders FirstSource

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the firm’s 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 sale, the director now directly owns 33,083 shares of the company’s stock, valued at $5,902,338.03. This trade represents a 23.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

BLDR has been the subject of several recent analyst reports. Bank of America raised their target price on shares of Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Robert W. Baird lifted their price objective on Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Loop Capital increased their target price on Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. The Goldman Sachs Group began coverage on Builders FirstSource in a research note on Thursday, October 10th. They issued a “buy” rating and a $225.00 price target on the stock. Finally, Royal Bank of Canada increased their price objective on Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $206.47.

Builders FirstSource Stock Performance

NYSE:BLDR opened at $186.47 on Monday. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $21.46 billion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 1.04 and a beta of 2.08. The firm has a 50-day moving average price of $185.33 and a two-hundred day moving average price of $168.49. Builders FirstSource, Inc. has a twelve month low of $130.75 and a twelve month high of $214.70.

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

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