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

Amalgamated Bank trimmed its position in Builders FirstSource, Inc. (NYSE:BLDR) by 33.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,228 shares of the company’s stock after selling 11,886 shares during the period. Amalgamated Bank’s holdings in Builders FirstSource were worth $4,503,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Armstrong Advisory Group Inc. acquired a new stake in Builders FirstSource in the third quarter worth about $30,000. Innealta Capital LLC purchased a new stake in Builders FirstSource during the 2nd quarter worth approximately $27,000. Reston Wealth Management LLC purchased a new position in shares of Builders FirstSource in the third quarter worth $39,000. First Horizon Advisors Inc. increased its position in shares of Builders FirstSource by 42.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after acquiring an additional 75 shares during the period. Finally, Friedenthal Financial purchased a new stake in Builders FirstSource during the 3rd quarter valued at about $50,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Builders FirstSource Stock Performance

Builders FirstSource stock opened at $177.99 on Friday. The stock has a market cap of $20.48 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 10.17 and a beta of 2.08. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.14. The firm has a 50 day simple moving average of $184.79 and a 200-day simple moving average of $168.52. Builders FirstSource, Inc. has a 1-year low of $120.80 and a 1-year high of $214.70.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same quarter in the prior year, the company posted $4.24 earnings per share. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. On average, analysts expect that Builders FirstSource, Inc. will post 11.69 EPS for the current year.

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

Analyst Upgrades and Downgrades

BLDR has been the subject of a number of recent research reports. Stifel Nicolaus reduced their price target on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. B. Riley cut their price target on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Jefferies Financial Group upped their target price on Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Bank of America lifted their price objective on shares of Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Finally, Benchmark cut 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. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $206.47.

Insider Buying and Selling

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the transaction, the director now directly owns 33,083 shares in the company, valued at $5,902,338.03. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

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.