New York State Teachers Retirement System Cuts Stake in Builders FirstSource, Inc. (NYSE:BLDR)

New York State Teachers Retirement System cut its position in Builders FirstSource, Inc. (NYSE:BLDR) by 12.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 134,138 shares of the company’s stock after selling 18,421 shares during the period. New York State Teachers Retirement System owned approximately 0.11% of Builders FirstSource worth $26,004,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BLDR. Innealta Capital LLC purchased a new position in Builders FirstSource in the 2nd quarter worth approximately $27,000. Armstrong Advisory Group Inc. purchased a new position in shares of Builders FirstSource in the third quarter worth $30,000. ORG Partners LLC purchased a new position in shares of Builders FirstSource in the first quarter worth $33,000. First Horizon Advisors Inc. boosted its position in shares of Builders FirstSource by 42.1% during the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after buying an additional 75 shares during the last quarter. Finally, New Millennium Group LLC bought a new stake in Builders FirstSource in the 2nd quarter worth about $38,000. Institutional investors own 95.53% of the company’s stock.

Builders FirstSource Stock Performance

BLDR opened at $171.40 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. The stock has a market capitalization of $19.96 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 11.48 and a beta of 2.06. The company has a fifty day moving average of $184.58 and a 200 day moving average of $168.66. Builders FirstSource, Inc. has a fifty-two week low of $107.84 and a fifty-two week high of $214.70.

Builders FirstSource (NYSE:BLDR) last issued its earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.48. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The firm had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. During the same period in the previous year, the firm posted $3.89 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Builders FirstSource, Inc. will post 11.68 earnings per share for the current fiscal year.

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

Insider Transactions at Builders FirstSource

In related news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s 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 transaction, the director now directly owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

BLDR has been the topic of several research analyst reports. Benchmark lowered their target price on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Barclays increased their price objective on shares of Builders FirstSource from $182.00 to $211.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Robert W. Baird boosted their target price on shares of Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Oppenheimer restated an “outperform” rating and issued a $225.00 price target on shares of Builders FirstSource in a research note on Tuesday. Finally, Loop Capital upped 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. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $200.35.

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.