Glenmede Trust Co. NA Reduces Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Glenmede Trust Co. NA decreased its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 21.2% during the third quarter, Holdings Channel.com reports. The fund owned 10,452 shares of the company’s stock after selling 2,805 shares during the period. Glenmede Trust Co. NA’s holdings in Builders FirstSource were worth $2,026,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC lifted its holdings in shares of Builders FirstSource by 45.7% during the third quarter. FMR LLC now owns 10,158,152 shares of the company’s stock worth $1,969,259,000 after purchasing an additional 3,186,876 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Builders FirstSource by 23.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,458,255 shares of the company’s stock worth $282,697,000 after purchasing an additional 277,897 shares during the period. Baillie Gifford & Co. acquired a new stake in shares of Builders FirstSource during the third quarter worth about $267,132,000. Diamond Hill Capital Management Inc. acquired a new position in Builders FirstSource in the third quarter valued at approximately $255,867,000. Finally, Bank of New York Mellon Corp lifted its holdings in Builders FirstSource by 22.7% in the second quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock valued at $147,059,000 after acquiring an additional 196,571 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

Insider Buying and Selling at Builders FirstSource

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $178.41, for a total value of $1,784,100.00. Following the completion of the sale, the director now directly owns 33,083 shares in the company, valued at $5,902,338.03. This represents a 23.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. B. Riley decreased their price target on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Barclays boosted their price target on Builders FirstSource from $182.00 to $211.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Truist Financial raised Builders FirstSource from a “hold” rating to a “buy” rating and boosted their price target for the company from $165.00 to $220.00 in a report on Monday, September 16th. Oppenheimer reissued an “outperform” rating and issued a $225.00 price target on shares of Builders FirstSource in a report on Tuesday, October 29th. Finally, UBS Group assumed coverage on Builders FirstSource in a report on Friday, October 25th. They issued a “buy” rating and a $232.00 price target for the company. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $206.47.

Builders FirstSource Stock Up 0.9 %

Shares of 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. Builders FirstSource, Inc. has a one year low of $130.75 and a one year high of $214.70. The stock has a market capitalization of $21.46 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 1.04 and a beta of 2.08. The stock has a 50 day moving average price of $185.33 and a 200 day moving average price of $168.49.

Builders FirstSource (NYSE:BLDR) last issued its 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 company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.24 earnings per share. Equities research analysts forecast that Builders FirstSource, Inc. will post 11.56 earnings per share for the current fiscal year.

Builders FirstSource declared that its Board of Directors has approved a stock buyback plan on Tuesday, August 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

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.