LPL Financial LLC Sells 58,459 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

LPL Financial LLC lessened its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 18.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 255,443 shares of the company’s stock after selling 58,459 shares during the period. LPL Financial LLC’s holdings in Builders FirstSource were worth $35,356,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Allianz Asset Management GmbH increased its position in shares of Builders FirstSource by 73.9% during the fourth quarter. Allianz Asset Management GmbH now owns 128,348 shares of the company’s stock worth $21,426,000 after acquiring an additional 54,557 shares in the last quarter. Boulder Hill Capital Management LP bought a new position in Builders FirstSource during the 4th quarter worth about $851,000. Westfield Capital Management Co. LP raised its stake in shares of Builders FirstSource by 11.2% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,416,611 shares of the company’s stock valued at $236,489,000 after purchasing an additional 143,041 shares during the period. New Mexico Educational Retirement Board boosted its position in shares of Builders FirstSource by 512.3% during the first quarter. New Mexico Educational Retirement Board now owns 39,800 shares of the company’s stock worth $8,300,000 after buying an additional 33,300 shares during the period. Finally, Pitcairn Co. grew its holdings in shares of Builders FirstSource by 37.2% during the fourth quarter. Pitcairn Co. now owns 21,051 shares of the company’s stock worth $3,514,000 after buying an additional 5,704 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the completion of the sale, the director now directly owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Stifel Nicolaus reduced their price target on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Baird R W upgraded shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. StockNews.com lowered shares of Builders FirstSource from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. Royal Bank of Canada reduced their price objective on shares of Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, B. Riley lowered their target price 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. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $181.57.

Builders FirstSource Trading Up 4.3 %

Shares of Builders FirstSource stock opened at $183.30 on Monday. Builders FirstSource, Inc. has a 1 year low of $105.24 and a 1 year high of $214.70. The company has a market capitalization of $22.37 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 10.06 and a beta of 2.06. The business has a fifty day simple moving average of $162.36 and a two-hundred day simple moving average of $170.95. 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 announced its earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.02 by $0.48. The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. Builders FirstSource’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.89 EPS. Research analysts forecast that Builders FirstSource, Inc. will post 11.65 EPS for the current year.

Builders FirstSource announced that its board has initiated 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 buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.