Builders FirstSource, Inc. (NYSE:BLDR) Shares Sold by National Bank of Canada FI

National Bank of Canada FI decreased its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 52.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,661 shares of the company’s stock after selling 38,092 shares during the quarter. National Bank of Canada FI’s holdings in Builders FirstSource were worth $4,644,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. acquired a new position in Builders FirstSource in the first quarter worth approximately $31,000. ORG Partners LLC acquired a new position in Builders FirstSource in the first quarter worth approximately $33,000. American Capital Advisory LLC acquired a new position in Builders FirstSource in the 1st quarter worth approximately $34,000. Principal Securities Inc. purchased a new position in Builders FirstSource during the 4th quarter worth approximately $32,000. Finally, Innealta Capital LLC purchased a new position in Builders FirstSource during the 2nd quarter worth approximately $27,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Builders FirstSource Trading Up 2.9 %

Builders FirstSource stock opened at $171.04 on Wednesday. Builders FirstSource, Inc. has a one year low of $105.24 and a one year high of $214.70. The company’s fifty day moving average price is $159.80 and its two-hundred day moving average price is $171.13. 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 company has a market capitalization of $19.92 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 9.76 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last released its quarterly 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 company had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.48 billion. During the same quarter in the prior year, the company posted $3.89 EPS. The firm’s revenue was down 1.6% on a year-over-year basis. On average, analysts forecast 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 stock repurchase plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BLDR shares. Bank of America cut shares of Builders FirstSource from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $183.00 to $180.00 in a research report on Friday, August 2nd. Baird R W upgraded shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Robert W. Baird upgraded shares of Builders FirstSource from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $185.00 to $190.00 in a research report on Wednesday, August 7th. Barclays lowered their price objective on shares of Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group reiterated 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. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Builders FirstSource presently has an average rating of “Moderate Buy” and an average target price of $181.57.

Insider Buying and Selling at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of the business’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 sale, the director now directly owns 95,333 shares in the company, valued at $14,650,775.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.80% of the company’s stock.

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.