Mackenzie Financial Corp Sells 7,928 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Mackenzie Financial Corp decreased its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 29.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,215 shares of the company’s stock after selling 7,928 shares during the quarter. Mackenzie Financial Corp’s holdings in Builders FirstSource were worth $2,660,000 as of its most recent filing with the Securities & Exchange Commission.

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

Builders FirstSource Trading Up 0.2 %

NYSE:BLDR opened at $195.22 on Thursday. Builders FirstSource, Inc. has a 12 month low of $105.24 and a 12 month high of $214.70. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88. The firm’s 50 day moving average is $172.45 and its 200 day moving average is $170.41. The stock has a market capitalization 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 issued its earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.48. The firm had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.48 billion. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.89 earnings per share. Sell-side analysts expect that Builders FirstSource, Inc. will post 11.68 earnings per share for the current year.

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

Insider Buying and Selling at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource 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 completion of the transaction, the director now owns 95,333 shares in the company, valued at $14,650,775.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on BLDR shares. Loop Capital raised their target price on Builders FirstSource from $190.00 to $230.00 and gave the company a “buy” rating in a report on Friday, September 20th. Truist Financial raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $165.00 to $220.00 in a report on Monday, September 16th. Royal Bank of Canada lowered their target price on shares of Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Robert W. Baird raised shares of Builders FirstSource from a “neutral” rating to an “outperform” rating and raised their price target for the company from $185.00 to $190.00 in a research report on Wednesday, August 7th. Finally, Baird R W raised shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Builders FirstSource currently has a consensus rating of “Moderate Buy” and an average price target of $190.00.

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.