Builders FirstSource, Inc. (NYSE:BLDR) Shares Sold by Kingfisher Capital LLC

Kingfisher Capital LLC reduced its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,998 shares of the company’s stock after selling 386 shares during the quarter. Builders FirstSource accounts for 1.4% of Kingfisher Capital LLC’s holdings, making the stock its 21st biggest position. Kingfisher Capital LLC’s holdings in Builders FirstSource were worth $5,813,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Builders FirstSource by 15.7% in the 4th quarter. Vanguard Group Inc. now owns 14,668,049 shares of the company’s stock valued at $2,448,684,000 after purchasing an additional 1,985,297 shares during the period. Boston Partners boosted its holdings in shares of Builders FirstSource by 0.8% in the first quarter. Boston Partners now owns 1,377,335 shares of the company’s stock worth $285,794,000 after buying an additional 10,551 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Builders FirstSource by 339.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock worth $163,373,000 after acquiring an additional 911,990 shares in the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of Builders FirstSource by 34.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,133,751 shares of the company’s stock valued at $189,268,000 after acquiring an additional 292,966 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Builders FirstSource by 22.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock valued at $147,059,000 after acquiring an additional 196,571 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $153.68, for a total value of $4,610,400.00. Following the sale, the director now directly owns 95,333 shares of the company’s stock, valued at $14,650,775.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

BLDR has been the topic of several research analyst reports. StockNews.com upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating in a research report on Monday. Royal Bank of Canada dropped their price target on Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Barclays reduced their price objective on Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Truist Financial raised Builders FirstSource from a “hold” rating to a “buy” rating and lifted their target price for the company from $165.00 to $220.00 in a research note on Monday, September 16th. Finally, B. Riley reduced their price target on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Builders FirstSource has a consensus rating of “Moderate Buy” and an average target price of $190.00.

Builders FirstSource Price Performance

Shares of NYSE:BLDR opened at $193.01 on Wednesday. The business has a 50-day moving average of $169.17 and a two-hundred day moving average of $170.55. 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, Inc. has a fifty-two week low of $105.24 and a fifty-two week high of $214.70. The stock has a market capitalization of $22.48 billion, a P/E ratio of 16.52, a P/E/G ratio of 11.56 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $4.48 billion. During the same quarter last year, the company posted $3.89 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities research analysts predict that Builders FirstSource, Inc. will post 11.68 EPS for the current fiscal year.

Builders FirstSource announced that its Board of Directors has initiated a stock repurchase program on Tuesday, August 6th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 5.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.