MAI Capital Management Sells 14,970 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

MAI Capital Management decreased its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 75.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,781 shares of the company’s stock after selling 14,970 shares during the quarter. MAI Capital Management’s holdings in Builders FirstSource were worth $927,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in BLDR. Baillie Gifford & Co. bought a new stake in shares of Builders FirstSource in the 3rd quarter worth approximately $267,132,000. Diamond Hill Capital Management Inc. bought a new stake in Builders FirstSource in the 3rd quarter valued at $255,867,000. Massachusetts Financial Services Co. MA boosted its position in shares of Builders FirstSource by 339.8% during the 2nd 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. Robeco Institutional Asset Management B.V. lifted its stake in Builders FirstSource by 109.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 904,600 shares of the company’s stock worth $175,366,000 after purchasing an additional 473,238 shares during the period. Finally, Mizuho Securities USA LLC boosted its holdings in Builders FirstSource by 4,099.0% during the third quarter. Mizuho Securities USA LLC now owns 395,000 shares of the company’s stock valued at $76,575,000 after purchasing an additional 385,593 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

BLDR has been the topic of a number of analyst reports. Truist Financial upgraded Builders FirstSource from a “hold” rating to a “buy” rating and upped their price target for the company from $165.00 to $220.00 in a research report on Monday, September 16th. Robert W. Baird upped their price objective on shares of Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. DA Davidson lifted their target price on shares of Builders FirstSource from $169.00 to $175.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Stephens increased their price target on Builders FirstSource from $178.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Loop Capital lifted their price objective 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 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, Builders FirstSource currently has a consensus rating of “Moderate Buy” and an average price target of $206.47.

Insider Transactions at Builders FirstSource

In other news, Director Cleveland A. Christophe sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $178.41, for a total value 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. The trade was a 23.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.80% of the stock is currently owned by insiders.

Builders FirstSource Trading Up 0.6 %

NYSE:BLDR opened at $175.94 on Friday. The firm has a market capitalization of $20.25 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 1.00 and a beta of 2.08. Builders FirstSource, Inc. has a 1-year low of $130.75 and a 1-year high of $214.70. The business’s 50-day moving average price is $186.33 and its two-hundred day moving average price is $167.92. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83.

Builders FirstSource (NYSE:BLDR) last posted its earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share 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 firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same quarter last year, the business posted $4.24 earnings per share. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. On average, equities analysts expect that Builders FirstSource, Inc. will post 11.56 earnings per share for the current year.

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