Truist Financial Corp Sells 8,644 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Truist Financial Corp lessened its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 45.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 10,458 shares of the company’s stock after selling 8,644 shares during the period. Truist Financial Corp’s holdings in Builders FirstSource were worth $1,447,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of BLDR. Vanguard Group Inc. lifted its position in shares of Builders FirstSource by 15.7% during the fourth quarter. Vanguard Group Inc. now owns 14,668,049 shares of the company’s stock valued at $2,448,684,000 after buying an additional 1,985,297 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake 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 purchasing an additional 911,990 shares during the period. Bessemer Group Inc. grew its stake in shares of Builders FirstSource by 477,028.7% during the 1st quarter. Bessemer Group Inc. now owns 448,501 shares of the company’s stock worth $93,535,000 after purchasing an additional 448,407 shares during the period. Bank of New York Mellon Corp lifted its position in shares of 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 valued at $147,059,000 after buying an additional 196,571 shares in the last quarter. Finally, Anomaly Capital Management LP lifted its position in shares of Builders FirstSource by 22.5% during the 2nd quarter. Anomaly Capital Management LP now owns 1,020,441 shares of the company’s stock valued at $141,239,000 after buying an additional 187,371 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Builders FirstSource Stock Up 0.7 %

NYSE BLDR opened at $193.00 on Friday. 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 $23.56 billion, a PE ratio of 16.52, a PEG ratio of 11.48 and a beta of 2.06. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.14. The business has a fifty day moving average price of $177.50 and a two-hundred day moving average price of $169.97.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.48. The business had revenue of $4.46 billion during 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 quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.89 earnings per share. Equities analysts expect that Builders FirstSource, Inc. will post 11.68 earnings per share for the current fiscal year.

Builders FirstSource announced that its board has approved a share 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 shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

BLDR has been the topic of a number of recent research reports. Stifel Nicolaus cut their target price on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Jefferies Financial Group increased their price objective on Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Wednesday. Truist Financial upgraded 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. Barclays boosted their price target on Builders FirstSource from $182.00 to $211.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Benchmark dropped their price objective on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $196.38.

Insider Activity

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 completion of the sale, the director now directly owns 95,333 shares in the company, valued at $14,650,775.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by company insiders.

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.