The Manufacturers Life Insurance Company Sells 4,640 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

The Manufacturers Life Insurance Company cut its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 6.2% in the third quarter, Holdings Channel reports. The institutional investor owned 69,686 shares of the company’s stock after selling 4,640 shares during the period. The Manufacturers Life Insurance Company’s holdings in Builders FirstSource were worth $13,509,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Forsta AP Fonden lifted its holdings in shares of Builders FirstSource by 12.1% in the 3rd quarter. Forsta AP Fonden now owns 26,800 shares of the company’s stock worth $5,195,000 after acquiring an additional 2,900 shares during the last quarter. Cetera Investment Advisers raised its position in Builders FirstSource by 762.2% in the 1st quarter. Cetera Investment Advisers now owns 50,982 shares of the company’s stock worth $10,632,000 after purchasing an additional 45,069 shares during the period. Janus Henderson Group PLC lifted its stake in Builders FirstSource by 21.1% in the first quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock worth $4,173,000 after purchasing an additional 3,483 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Builders FirstSource by 18.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 115,995 shares of the company’s stock valued at $16,055,000 after buying an additional 18,223 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Builders FirstSource by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 785,842 shares of the company’s stock valued at $152,343,000 after buying an additional 16,000 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Cleveland A. Christophe sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $178.41, for a total value of $1,784,100.00. Following the completion of the transaction, the director now directly owns 33,083 shares of the company’s stock, valued at $5,902,338.03. This trade represents a 23.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by company insiders.

Builders FirstSource Stock Up 0.9 %

NYSE:BLDR opened at $186.47 on Monday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.77. The stock has a market capitalization of $21.46 billion, a P/E ratio of 18.21, a P/E/G ratio of 1.04 and a beta of 2.08. The company’s 50-day simple moving average is $185.33 and its 200-day simple moving average is $168.49. Builders FirstSource, Inc. has a fifty-two week low of $130.75 and a fifty-two week high of $214.70.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.02). The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. Builders FirstSource’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.24 earnings per share. On average, equities analysts anticipate that Builders FirstSource, Inc. will post 11.56 earnings per share for the current fiscal year.

Builders FirstSource announced that its board has approved a stock buyback program on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

BLDR has been the subject of a number of research analyst reports. Robert W. Baird raised their price target on Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group assumed coverage on shares of Builders FirstSource in a report on Thursday, October 10th. They issued a “buy” rating and a $225.00 price target on the stock. StockNews.com cut shares of Builders FirstSource from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Bank of America raised their target price on shares of Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Finally, Royal Bank of Canada boosted their price target on Builders FirstSource from $178.00 to $187.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Five 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $206.47.

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.