Builders FirstSource, Inc. (NYSE:BLDR) Shares Sold by Absoluto Partners Gestao de Recursos Ltda

Absoluto Partners Gestao de Recursos Ltda lessened its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 5.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 7,817 shares of the company’s stock after selling 453 shares during the period. Builders FirstSource accounts for about 0.7% of Absoluto Partners Gestao de Recursos Ltda’s portfolio, making the stock its 20th largest position. Absoluto Partners Gestao de Recursos Ltda’s holdings in Builders FirstSource were worth $1,082,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Allianz Asset Management GmbH boosted its position in Builders FirstSource by 73.9% during the fourth quarter. Allianz Asset Management GmbH now owns 128,348 shares of the company’s stock worth $21,426,000 after acquiring an additional 54,557 shares during the last quarter. Boulder Hill Capital Management LP purchased a new stake in shares of Builders FirstSource in the fourth quarter valued at $851,000. New Mexico Educational Retirement Board increased its stake in Builders FirstSource by 512.3% in the first quarter. New Mexico Educational Retirement Board now owns 39,800 shares of the company’s stock valued at $8,300,000 after purchasing an additional 33,300 shares during the last quarter. Pitcairn Co. lifted its position in Builders FirstSource by 37.2% during the fourth quarter. Pitcairn Co. now owns 21,051 shares of the company’s stock worth $3,514,000 after buying an additional 5,704 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Builders FirstSource by 273.0% in the 1st quarter. SG Americas Securities LLC now owns 62,622 shares of the company’s stock worth $13,060,000 after buying an additional 45,832 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Builders FirstSource Stock Performance

Shares of BLDR stock opened at $193.01 on Wednesday. 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 company’s fifty day moving average price is $169.17 and its two-hundred day moving average price is $170.55. The firm has a market capitalization of $22.48 billion, a P/E ratio of 16.52, a P/E/G ratio of 11.56 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.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.02 by $0.48. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The business had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. During the same quarter in the previous year, the firm posted $3.89 earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year. On average, research analysts anticipate 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 share repurchase plan 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity

In related news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction on 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 sale, the director now owns 95,333 shares in the company, valued at $14,650,775.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

BLDR has been the topic of several recent analyst reports. B. Riley cut their price objective on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada reduced their target price on Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. StockNews.com upgraded Builders FirstSource from a “hold” rating to a “buy” rating in a research note on Monday. Stifel Nicolaus cut their price objective on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Bank of America boosted their target price on Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Builders FirstSource has a consensus rating of “Moderate Buy” and a consensus target price of $190.00.

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.