Builders FirstSource, Inc. (NYSE:BLDR) Stake Cut by Cynosure Group LLC

Cynosure Group LLC lessened its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 50.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,635 shares of the company’s stock after selling 2,635 shares during the quarter. Cynosure Group LLC’s holdings in Builders FirstSource were worth $511,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Advisors Asset Management Inc. boosted its position in Builders FirstSource by 32.0% during the first quarter. Advisors Asset Management Inc. now owns 2,046 shares of the company’s stock valued at $427,000 after purchasing an additional 496 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Builders FirstSource by 21.1% in the 1st quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock valued at $4,173,000 after buying an additional 3,483 shares in the last quarter. California State Teachers Retirement System raised its position in Builders FirstSource by 1.1% during the first quarter. California State Teachers Retirement System now owns 208,130 shares of the company’s stock valued at $43,406,000 after acquiring an additional 2,259 shares in the last quarter. LBP AM SA bought a new stake in Builders FirstSource in the first quarter worth approximately $1,014,000. Finally, Plato Investment Management Ltd increased its stake in shares of Builders FirstSource by 183.1% during the 1st quarter. Plato Investment Management Ltd now owns 4,787 shares of the company’s stock worth $998,000 after purchasing an additional 3,096 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Builders FirstSource Trading Down 0.7 %

Shares of Builders FirstSource stock opened at $184.60 on Thursday. Builders FirstSource, Inc. has a 52-week low of $130.75 and a 52-week high of $214.70. The firm has a market capitalization of $21.24 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 1.06 and a beta of 2.08. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.77 and a quick ratio of 1.16. The company’s fifty day moving average price is $186.10 and its two-hundred day moving average price is $168.16.

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). Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same quarter in the prior year, the company earned $4.24 earnings per share. The business’s revenue was down 6.7% compared to the same quarter last year. On average, analysts expect that Builders FirstSource, Inc. will post 11.56 EPS for the current year.

Builders FirstSource declared that its board has approved a share repurchase program on Tuesday, August 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BLDR shares. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price objective on shares of Builders FirstSource in a report on Tuesday, October 29th. Stifel Nicolaus decreased their price target on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Jefferies Financial Group raised their price objective on Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. StockNews.com cut Builders FirstSource from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Truist Financial raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and upped their price objective for the stock from $165.00 to $220.00 in a report on Monday, September 16th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $206.47.

Insider Activity at Builders FirstSource

In related news, Director Cleveland A. Christophe sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was 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 in the company, valued at $5,902,338.03. This represents a 23.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by 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.