State of Alaska Department of Revenue Cuts Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

State of Alaska Department of Revenue trimmed its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 34.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,484 shares of the company’s stock after selling 12,580 shares during the period. State of Alaska Department of Revenue’s holdings in Builders FirstSource were worth $4,551,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. PFG Investments LLC purchased a new position in shares of Builders FirstSource in the third quarter worth $521,000. Forsta AP Fonden boosted its holdings in shares of Builders FirstSource by 12.1% during the 3rd quarter. Forsta AP Fonden now owns 26,800 shares of the company’s stock valued at $5,195,000 after purchasing an additional 2,900 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Builders FirstSource by 21.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,313 shares of the company’s stock valued at $1,615,000 after purchasing an additional 1,442 shares in the last quarter. Highland Capital Management LLC increased its holdings in shares of Builders FirstSource by 1,975.9% in the third quarter. Highland Capital Management LLC now owns 30,350 shares of the company’s stock worth $5,884,000 after purchasing an additional 28,888 shares during the last quarter. Finally, Mediolanum International Funds Ltd lifted its position in shares of Builders FirstSource by 45.4% in the third quarter. Mediolanum International Funds Ltd now owns 106,332 shares of the company’s stock worth $20,621,000 after buying an additional 33,216 shares in the last quarter. Institutional investors 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 on Thursday, August 8th. The stock was sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the transaction, the director now owns 95,333 shares in the company, valued at approximately $14,650,775.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BLDR. Stifel Nicolaus reduced their price objective on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Loop Capital boosted their price target on shares of Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Jefferies Financial Group increased their price objective on shares of Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Bank of America boosted their target price on shares of Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Finally, B. Riley dropped their price target on 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, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $200.35.

Builders FirstSource Trading Down 7.1 %

NYSE BLDR opened at $171.66 on Wednesday. The stock has a market cap of $20.95 billion, a PE ratio of 14.70, a PEG ratio of 11.48 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 company’s 50-day moving average price is $184.34 and its 200-day moving average price is $168.76. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88.

Builders FirstSource (NYSE:BLDR) last issued 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. The business had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.89 EPS. Equities research analysts forecast that Builders FirstSource, Inc. will post 11.68 earnings per share for the current year.

Builders FirstSource announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

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.