Builders FirstSource, Inc. (NYSE:BLDR) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its position in Builders FirstSource, Inc. (NYSE:BLDR) by 6.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,092 shares of the company’s stock after selling 3,293 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Builders FirstSource were worth $6,518,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Builders FirstSource by 15.7% during the fourth quarter. Vanguard Group Inc. now owns 14,668,049 shares of the company’s stock worth $2,448,684,000 after purchasing an additional 1,985,297 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Builders FirstSource by 339.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock worth $163,373,000 after buying an additional 911,990 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Builders FirstSource by 477,028.7% in the first quarter. Bessemer Group Inc. now owns 448,501 shares of the company’s stock valued at $93,535,000 after acquiring an additional 448,407 shares during the last quarter. Frontier Capital Management Co. LLC grew its position in 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 increased its stake in Builders FirstSource by 22.7% during the second quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock worth $147,059,000 after acquiring an additional 196,571 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Insiders Place Their Bets

In other news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following 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 legal filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BLDR has been the topic of several research analyst reports. Loop Capital boosted their target price on Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, September 20th. StockNews.com upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating in a research note on Monday, September 23rd. Benchmark cut their target price on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Barclays lowered their price target on Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Royal Bank of Canada reduced their price objective on Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Four investment 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $190.00.

Builders FirstSource Stock Performance

Shares of Builders FirstSource stock opened at $195.22 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. Builders FirstSource, Inc. has a 1 year low of $105.24 and a 1 year high of $214.70. The firm’s 50-day simple moving average is $172.45 and its 200-day simple moving average is $170.41. The firm has a market cap of $23.83 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 11.56 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Tuesday, August 6th. The company reported $3.50 EPS 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 for the quarter, compared to the consensus estimate of $4.48 billion. During the same quarter last year, the business posted $3.89 EPS. Builders FirstSource’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities analysts forecast that Builders FirstSource, Inc. will post 11.68 earnings per share 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 reacquire up to 5.3% of its shares through open market purchases. Shares repurchase programs are generally 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.