Allspring Global Investments Holdings LLC Has $4.95 Million Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Allspring Global Investments Holdings LLC lowered its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 25.1% during the third quarter, Holdings Channel reports. The firm owned 25,545 shares of the company’s stock after selling 8,539 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Builders FirstSource were worth $4,952,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Innealta Capital LLC acquired a new position in Builders FirstSource during the second quarter valued at approximately $27,000. Armstrong Advisory Group Inc. bought a new stake in shares of Builders FirstSource during the 3rd quarter worth $30,000. Westside Investment Management Inc. acquired a new position in Builders FirstSource in the 1st quarter valued at $31,000. ORG Partners LLC bought a new position in Builders FirstSource in the 1st quarter worth $33,000. Finally, First Horizon Advisors Inc. boosted its holdings in Builders FirstSource by 42.1% during the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

Insiders Place Their Bets

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the business’s 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 directly owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Builders FirstSource Stock Up 2.2 %

NYSE BLDR opened at $184.80 on Tuesday. The stock’s 50 day simple moving average is $184.34 and its 200 day simple moving average is $168.76. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.14. Builders FirstSource, Inc. has a one year low of $105.24 and a one year high of $214.70. The firm has a market cap of $22.56 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 11.48 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last announced its 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 company had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. During the same quarter in the prior year, the business earned $3.89 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that Builders FirstSource, Inc. will post 11.68 earnings per share for the current fiscal year.

Builders FirstSource declared that its board has initiated a stock repurchase program on Tuesday, August 6th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 5.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have issued reports on BLDR. Robert W. Baird raised their target price on Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Bank of America boosted their price target on shares of Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. B. Riley reduced their price objective on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Wedbush reissued an “outperform” rating and issued a $175.00 target price on shares of Builders FirstSource in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada cut their price target on shares of Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $200.35.

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.