Forsta AP Fonden Has $3.31 Million Stake in Builders FirstSource, Inc. (NYSE:BLDR)

Forsta AP Fonden cut its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 10.5% in the second quarter, Holdings Channel.com reports. The firm owned 23,900 shares of the company’s stock after selling 2,800 shares during the quarter. Forsta AP Fonden’s holdings in Builders FirstSource were worth $3,308,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BLDR. First Horizon Advisors Inc. raised its holdings in shares of Builders FirstSource by 42.1% in the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after purchasing an additional 75 shares during the last quarter. Team Hewins LLC increased its stake in Builders FirstSource by 6.5% in the 1st quarter. Team Hewins LLC now owns 1,313 shares of the company’s stock valued at $274,000 after buying an additional 80 shares during the last quarter. Csenge Advisory Group lifted its position in Builders FirstSource by 1.9% during the 2nd quarter. Csenge Advisory Group now owns 4,252 shares of the company’s stock worth $589,000 after buying an additional 81 shares in the last quarter. Congress Wealth Management LLC DE boosted its stake in shares of Builders FirstSource by 1.4% during the 4th quarter. Congress Wealth Management LLC DE now owns 6,197 shares of the company’s stock worth $1,035,000 after buying an additional 85 shares during the last quarter. Finally, Quarry LP increased its position in shares of Builders FirstSource by 49.7% in the fourth quarter. Quarry LP now owns 280 shares of the company’s stock valued at $47,000 after acquiring an additional 93 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BLDR shares. B. Riley decreased their price target on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Zelman & Associates reissued a “hold” rating on shares of Builders FirstSource in a research note on Monday, June 17th. Jefferies Financial Group reaffirmed a “buy” rating and set a $185.00 price target (down from $205.00) on shares of Builders FirstSource in a research report on Friday, August 9th. Bank of America downgraded shares of Builders FirstSource from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $183.00 to $180.00 in a research report on Friday, August 2nd. Finally, Oppenheimer upped their target price on shares of Builders FirstSource from $190.00 to $205.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Builders FirstSource presently has an average rating of “Moderate Buy” and an average price target of $181.57.

Builders FirstSource Price Performance

Shares of NYSE BLDR opened at $183.30 on Monday. The business’s 50 day moving average is $162.36 and its 200-day moving average is $170.95. The firm has a market cap of $22.37 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 10.06 and a beta of 2.06. Builders FirstSource, Inc. has a 1-year low of $105.24 and a 1-year high of $214.70. 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 posted its earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the firm earned $3.89 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. Equities research analysts predict that Builders FirstSource, Inc. will post 11.65 earnings per share for the current year.

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

Insiders Place Their Bets

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were 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 in the company, valued at approximately $14,650,775.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.