Van ECK Associates Corp Sells 4,640 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Van ECK Associates Corp lessened its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 19.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,626 shares of the company’s stock after selling 4,640 shares during the period. Van ECK Associates Corp’s holdings in Builders FirstSource were worth $2,578,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Builders FirstSource by 15.7% in the 4th quarter. Vanguard Group Inc. now owns 14,668,049 shares of the company’s stock worth $2,448,684,000 after acquiring an additional 1,985,297 shares during the period. Norges Bank bought a new position in shares of Builders FirstSource in the fourth quarter worth about $212,209,000. Boston Partners lifted its position in shares of Builders FirstSource by 73.5% during the 4th quarter. Boston Partners now owns 1,366,784 shares of the company’s stock worth $227,464,000 after purchasing an additional 578,961 shares during the last quarter. Bessemer Group Inc. boosted its stake in Builders FirstSource by 477,028.7% during the 1st quarter. Bessemer Group Inc. now owns 448,501 shares of the company’s stock valued at $93,535,000 after purchasing an additional 448,407 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in Builders FirstSource by 152.9% in the 4th quarter. Hsbc Holdings PLC now owns 489,047 shares of the company’s stock valued at $81,628,000 after buying an additional 295,643 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

Builders FirstSource Price Performance

Shares of BLDR stock opened at $167.67 on Friday. The stock’s fifty day simple moving average is $157.82 and its 200 day simple moving average is $171.68. Builders FirstSource, Inc. has a one year low of $105.24 and a one year high of $214.70. The firm has a market cap of $20.47 billion, a price-to-earnings ratio of 14.36, a P/E/G ratio of 10.07 and a beta of 2.04. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.14.

Builders FirstSource (NYSE:BLDR) last issued its earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.02 by $0.48. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.48 billion. During the same quarter in the previous year, the company earned $3.89 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, analysts expect that Builders FirstSource, Inc. will post 11.91 earnings per share for the current fiscal year.

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

Insider Buying and Selling at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction that occurred 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 owns 95,333 shares in the company, valued at $14,650,775.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Robert W. Baird raised Builders FirstSource from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $185.00 to $190.00 in a research report on Wednesday, August 7th. Stifel Nicolaus decreased their price target on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Oppenheimer upped their price objective on shares of Builders FirstSource from $190.00 to $205.00 and gave the company an “outperform” rating in a research report on Tuesday. Wedbush reiterated an “outperform” rating and issued a $175.00 target price on shares of Builders FirstSource in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada lowered their price target on Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $181.57.

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.