Sumitomo Mitsui Trust Group Inc. Sells 2,565 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 306,985 shares of the company’s stock after selling 2,565 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Builders FirstSource were worth $59,512,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BLDR. Baillie Gifford & Co. bought a new position in Builders FirstSource during the 3rd quarter valued at approximately $267,132,000. Boston Partners raised its holdings in shares of Builders FirstSource by 0.8% during the first quarter. Boston Partners now owns 1,377,335 shares of the company’s stock valued at $285,794,000 after acquiring an additional 10,551 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in Builders FirstSource in the third quarter worth $255,867,000. Massachusetts Financial Services Co. MA boosted its holdings in Builders FirstSource by 339.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock valued at $163,373,000 after acquiring an additional 911,990 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Builders FirstSource by 22.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock valued at $147,059,000 after purchasing an additional 196,571 shares during the period. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Builders FirstSource Trading Up 0.7 %

NYSE:BLDR opened at $181.21 on Friday. The stock has a market cap of $20.85 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 1.00 and a beta of 2.08. 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 company’s 50 day moving average price is $185.68 and its 200-day moving average price is $168.35. Builders FirstSource, Inc. has a 52 week low of $128.57 and a 52 week high of $214.70.

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

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

Insider Buying and Selling

In related news, Director Cleveland A. Christophe sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $178.41, for a total value of $1,784,100.00. Following the sale, the director now owns 33,083 shares in the company, valued at approximately $5,902,338.03. This trade represents a 23.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Stephens lifted their target price on shares of Builders FirstSource from $178.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Baird R W upgraded Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Robert W. Baird raised their target price on Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Truist Financial upgraded Builders FirstSource from a “hold” rating to a “buy” rating and lifted their price target for the company from $165.00 to $220.00 in a research report on Monday, September 16th. Finally, Jefferies Financial Group increased their price objective on Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $206.47.

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.