Builders FirstSource, Inc. (NYSE:BLDR) Shares Sold by Holderness Investments Co.

Holderness Investments Co. cut its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 5.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,255 shares of the company’s stock after selling 140 shares during the quarter. Holderness Investments Co.’s holdings in Builders FirstSource were worth $312,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. ProShare Advisors LLC raised its position in Builders FirstSource by 22.4% in the second quarter. ProShare Advisors LLC now owns 19,216 shares of the company’s stock valued at $2,660,000 after purchasing an additional 3,517 shares during the period. Ensign Peak Advisors Inc grew its position in shares of Builders FirstSource by 9.5% during the second quarter. Ensign Peak Advisors Inc now owns 214,570 shares of the company’s stock worth $29,699,000 after buying an additional 18,686 shares in the last quarter. Lodge Hill Capital LLC raised its position in shares of Builders FirstSource by 179.3% during the 2nd quarter. Lodge Hill Capital LLC now owns 210,300 shares of the company’s stock worth $29,108,000 after acquiring an additional 135,000 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in Builders FirstSource by 1.9% in the second quarter. Ameritas Investment Partners Inc. now owns 14,954 shares of the company’s stock valued at $2,070,000 after acquiring an additional 273 shares during the last quarter. Finally, King Luther Capital Management Corp boosted its position in shares of Builders FirstSource by 0.9% in the 2nd quarter. King Luther Capital Management Corp now owns 11,267 shares of the company’s stock valued at $1,559,000 after purchasing an additional 104 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Insider Buying and Selling at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following the completion of the sale, the director now owns 95,333 shares of the company’s stock, valued at $14,650,775.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Builders FirstSource Trading Down 2.0 %

Shares of BLDR opened at $197.74 on Monday. The stock’s fifty day simple moving average is $167.76 and its 200 day simple moving average is $170.66. Builders FirstSource, Inc. has a twelve month low of $105.24 and a twelve month high of $214.70. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $24.14 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 10.06 and a beta of 2.06.

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 return on equity of 37.05% and a net margin of 8.25%. The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.48 billion. During the same period last year, the business posted $3.89 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, 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 of Directors has approved a stock repurchase plan on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 5.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have issued reports on BLDR shares. Jefferies Financial Group reissued a “buy” rating and set a $185.00 price objective (down from $205.00) on shares of Builders FirstSource in a research report on Friday, August 9th. Barclays decreased their target price on Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Truist Financial raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and raised their price objective for the stock from $165.00 to $220.00 in a research note on Monday, September 16th. Bank of America upped their price objective on Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Benchmark dropped their price objective on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $190.00.

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.