Builders FirstSource, Inc. (NYSE:BLDR) Holdings Lowered by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 11.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,113 shares of the company’s stock after selling 1,085 shares during the quarter. Kentucky Retirement Systems’ holdings in Builders FirstSource were worth $1,573,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Baillie Gifford & Co. acquired a new position in Builders FirstSource during the third quarter valued at $267,132,000. Boston Partners boosted its holdings in shares of Builders FirstSource by 0.8% during the first quarter. Boston Partners now owns 1,377,335 shares of the company’s stock worth $285,794,000 after purchasing an additional 10,551 shares during the period. Diamond Hill Capital Management Inc. purchased a new position in Builders FirstSource during the third quarter valued at approximately $255,867,000. Massachusetts Financial Services Co. MA increased its stake in Builders FirstSource by 339.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock valued at $163,373,000 after buying an additional 911,990 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Builders FirstSource by 22.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock worth $147,059,000 after buying an additional 196,571 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Insider Activity at Builders FirstSource

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Barclays boosted their price target on shares of Builders FirstSource from $182.00 to $211.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Oppenheimer restated an “outperform” rating and issued a $225.00 target price on shares of Builders FirstSource in a research note on Tuesday, October 29th. DA Davidson raised their price target on Builders FirstSource from $169.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Robert W. Baird boosted their price target on Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, UBS Group started coverage on shares of Builders FirstSource in a research report on Friday, October 25th. They set a “buy” rating and a $232.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Builders FirstSource has an average rating of “Moderate Buy” and a consensus target price of $206.47.

Builders FirstSource Price Performance

Shares of NYSE:BLDR opened at $178.30 on Tuesday. Builders FirstSource, Inc. has a twelve month low of $130.75 and a twelve month high of $214.70. The company has a market cap of $20.52 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 0.98 and a beta of 2.08. The business has a 50 day moving average price of $185.83 and a 200 day moving average price of $168.06. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 0.83.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.02). The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.44 billion. Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. Builders FirstSource’s revenue for the quarter 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. Research analysts predict that Builders FirstSource, Inc. will post 11.56 earnings per share for the current year.

Builders FirstSource announced that its Board of Directors has initiated 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 reacquire up to 5.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.