State of New Jersey Common Pension Fund D Sells 25,127 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

State of New Jersey Common Pension Fund D reduced its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 36.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 44,695 shares of the company’s stock after selling 25,127 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Builders FirstSource were worth $6,186,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH increased its position in Builders FirstSource by 73.9% during the 4th quarter. Allianz Asset Management GmbH now owns 128,348 shares of the company’s stock valued at $21,426,000 after buying an additional 54,557 shares in the last quarter. Boulder Hill Capital Management LP acquired a new position in Builders FirstSource during the 4th quarter valued at about $851,000. Westfield Capital Management Co. LP increased its position in Builders FirstSource by 11.2% during 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 buying an additional 143,041 shares in the last quarter. New Mexico Educational Retirement Board increased its position in Builders FirstSource by 512.3% during the 1st quarter. New Mexico Educational Retirement Board now owns 39,800 shares of the company’s stock valued at $8,300,000 after buying an additional 33,300 shares in the last quarter. Finally, Pitcairn Co. increased its position in Builders FirstSource by 37.2% during the 4th quarter. Pitcairn Co. now owns 21,051 shares of the company’s stock valued at $3,514,000 after buying an additional 5,704 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Zelman & Associates reaffirmed a “hold” rating on shares of Builders FirstSource in a research report on Monday, June 17th. StockNews.com lowered Builders FirstSource from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. 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 report on Wednesday, August 7th. Barclays cut their price objective on Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Finally, Royal Bank of Canada cut their price objective on Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $181.57.

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 stock was 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 $14,650,775.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by company insiders.

Builders FirstSource Stock Up 4.3 %

Shares of BLDR opened at $183.30 on Monday. Builders FirstSource, Inc. has a 52 week low of $105.24 and a 52 week high of $214.70. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $22.37 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 10.06 and a beta of 2.06. The stock’s 50-day moving average price is $162.36 and its 200-day moving average price is $170.95.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.48 billion. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. Builders FirstSource’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.89 earnings per share. On average, sell-side analysts predict that Builders FirstSource, Inc. will post 11.65 EPS for the current year.

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

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.