Amalgamated Bank Cuts Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Amalgamated Bank decreased its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 17.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,114 shares of the company’s stock after selling 7,615 shares during the period. Amalgamated Bank’s holdings in Builders FirstSource were worth $4,860,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Westside Investment Management Inc. acquired a new position in shares of Builders FirstSource in the first quarter worth $31,000. ORG Partners LLC purchased a new position in Builders FirstSource in the first quarter valued at $33,000. American Capital Advisory LLC acquired a new position in Builders FirstSource during the 1st quarter worth $34,000. Principal Securities Inc. purchased a new stake in Builders FirstSource during the 4th quarter worth about $32,000. Finally, Innealta Capital LLC acquired a new stake in Builders FirstSource in the 2nd quarter valued at about $27,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the completion of the sale, the director now directly owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

BLDR has been the subject of a number of analyst reports. Wedbush reissued an “outperform” rating and set a $175.00 price objective on shares of Builders FirstSource in a research report on Tuesday, August 6th. Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and boosted their price target for the stock from $165.00 to $220.00 in a report on Monday, September 16th. Zelman & Associates restated a “hold” rating on shares of Builders FirstSource in a report on Monday, June 17th. Jefferies Financial Group reaffirmed 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. Finally, Royal Bank of Canada dropped their target price on Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $190.00.

Builders FirstSource Price Performance

Shares of NYSE BLDR opened at $197.74 on Friday. 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 stock has a market cap of $24.14 billion, a P/E ratio of 16.93, a P/E/G ratio of 10.06 and a beta of 2.06. The stock has a 50 day moving average of $167.76 and a two-hundred day moving average of $170.87. Builders FirstSource, Inc. has a twelve month low of $105.24 and a twelve month high of $214.70.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. The firm had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. Builders FirstSource’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.89 EPS. On average, research analysts forecast that Builders FirstSource, Inc. will post 11.65 earnings per share for the current year.

Builders FirstSource announced that its board has approved a stock buyback program on Tuesday, August 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 5.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Builders FirstSource Company 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.