Skandinaviska Enskilda Banken AB publ Lowers Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Skandinaviska Enskilda Banken AB publ decreased its position in Builders FirstSource, Inc. (NYSE:BLDR) by 1.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,151 shares of the company’s stock after selling 404 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Builders FirstSource were worth $3,481,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of BLDR. King Luther Capital Management Corp increased its stake 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 in the last quarter. Bridges Investment Management Inc. purchased a new stake in shares of Builders FirstSource in the second quarter valued at approximately $546,000. Canada Pension Plan Investment Board raised its stake in shares of Builders FirstSource by 118.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 40,649 shares of the company’s stock worth $5,626,000 after buying an additional 22,049 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in shares of Builders FirstSource by 71.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 20,721 shares of the company’s stock valued at $2,868,000 after buying an additional 8,668 shares in the last quarter. Finally, Intech Investment Management LLC grew its stake in Builders FirstSource by 80.9% in the 2nd quarter. Intech Investment Management LLC now owns 204,923 shares of the company’s stock valued at $28,363,000 after acquiring an additional 91,642 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

Builders FirstSource Stock Performance

NYSE BLDR opened at $197.74 on Monday. The stock has a market cap of $24.14 billion, a PE ratio of 16.93, a P/E/G ratio of 10.06 and a beta of 2.06. Builders FirstSource, Inc. has a twelve month low of $105.24 and a twelve month high of $214.70. The stock has a fifty day simple moving average of $167.76 and a 200-day simple moving average of $170.66. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.48. The business 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%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the business earned $3.89 earnings per share. Equities analysts anticipate that Builders FirstSource, Inc. will post 11.65 earnings per share for the current year.

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

Insider Transactions at Builders FirstSource

In related news, Director Craig Arthur Steinke sold 30,000 shares of the stock in a transaction dated 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 transaction, the director now owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BLDR. 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 report on Friday, August 9th. Barclays decreased their price target on shares of Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. StockNews.com upgraded Builders FirstSource from a “hold” rating to a “buy” rating in a research note on Monday. Benchmark decreased their target price on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Oppenheimer boosted their price target on Builders FirstSource from $205.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average 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.