Kendall Capital Management Sells 360 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Kendall Capital Management trimmed its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,775 shares of the company’s stock after selling 360 shares during the quarter. Kendall Capital Management’s holdings in Builders FirstSource were worth $1,215,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BLDR. Innealta Capital LLC bought a new position in shares of Builders FirstSource during the second quarter worth $27,000. Westside Investment Management Inc. bought a new position in shares of Builders FirstSource during the first quarter worth $31,000. Principal Securities Inc. bought a new position in shares of Builders FirstSource during the fourth quarter worth $32,000. ORG Partners LLC bought a new stake in Builders FirstSource in the 1st quarter valued at $33,000. Finally, American Capital Advisory LLC bought a new stake in Builders FirstSource in the 1st quarter valued at $34,000. 95.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BLDR shares. Truist Financial raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and boosted their price objective for the company from $165.00 to $220.00 in a research report on Monday. Stifel Nicolaus cut their price objective 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. Royal Bank of Canada lowered their price target on shares of Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. B. Riley lowered their price target on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Oppenheimer lifted their price target on shares of Builders FirstSource from $205.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Builders FirstSource currently has an average rating of “Moderate Buy” and an average target price of $185.86.

Insider Buying and Selling

In related news, Director Craig Arthur Steinke sold 30,000 shares of the company’s 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 completion of the transaction, the director now directly owns 95,333 shares in the company, valued at approximately $14,650,775.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.80% of the stock is owned by corporate insiders.

Builders FirstSource Stock Performance

NYSE BLDR opened at $194.60 on Thursday. 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 $23.75 billion, a P/E ratio of 16.66, a P/E/G ratio of 10.06 and a beta of 2.06. Builders FirstSource, Inc. has a 12-month low of $105.24 and a 12-month high of $214.70. The firm has a 50-day moving average price of $165.76 and a two-hundred day moving average price of $170.86.

Builders FirstSource (NYSE:BLDR) last issued its quarterly 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 net margin of 8.25% and a return on equity of 37.05%. 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 firm posted $3.89 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. Analysts anticipate that Builders FirstSource, Inc. will post 11.65 earnings per share for the current year.

Builders FirstSource declared that its board has initiated a share buyback program on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase 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.

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.