Ascent Group LLC Sells 669 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Ascent Group LLC lessened its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 10.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,963 shares of the company’s stock after selling 669 shares during the quarter. Ascent Group LLC’s holdings in Builders FirstSource were worth $1,156,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BLDR. FMR LLC raised its holdings in shares of Builders FirstSource by 45.7% during the 3rd quarter. FMR LLC now owns 10,158,152 shares of the company’s stock valued at $1,969,259,000 after purchasing an additional 3,186,876 shares in the last quarter. Baillie Gifford & Co. bought a new position in Builders FirstSource during the third quarter valued at about $267,132,000. Diamond Hill Capital Management Inc. acquired a new stake in shares of Builders FirstSource in the third quarter worth about $255,867,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Builders FirstSource by 339.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock worth $163,373,000 after acquiring an additional 911,990 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in shares of Builders FirstSource by 256,479.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 661,976 shares of the company’s stock valued at $128,331,000 after acquiring an additional 661,718 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Builders FirstSource Stock Down 0.2 %

BLDR opened at $184.47 on Wednesday. The company has a market capitalization of $21.23 billion, a P/E ratio of 18.01, a P/E/G ratio of 1.03 and a beta of 2.06. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.77 and a quick ratio of 1.16. The firm’s fifty day moving average price is $184.94 and its two-hundred day moving average price is $168.74. 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 posted its earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.44 billion. Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The business’s revenue was down 6.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.24 EPS. On average, analysts anticipate that Builders FirstSource, Inc. will post 11.56 EPS for the current year.

Builders FirstSource announced that its board has authorized a share buyback plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 5.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Builders FirstSource

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 33,083 shares in the company, valued at $5,902,338.03. The trade was a 23.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BLDR shares. Truist Financial upgraded Builders FirstSource from a “hold” rating to a “buy” rating and boosted their target price for the stock from $165.00 to $220.00 in a report on Monday, September 16th. Benchmark decreased their price objective on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Loop Capital raised their target price on shares of Builders FirstSource from $190.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, September 20th. UBS Group initiated coverage on shares of Builders FirstSource in a research report on Friday, October 25th. They set a “buy” rating and a $232.00 target price for the company. Finally, Baird R W raised Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $206.47.

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.