Ritholtz Wealth Management Decreases Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Ritholtz Wealth Management trimmed its position in Builders FirstSource, Inc. (NYSE:BLDR) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,364 shares of the company’s stock after selling 223 shares during the period. Ritholtz Wealth Management’s holdings in Builders FirstSource were worth $6,856,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of BLDR. Innealta Capital LLC purchased a new position in Builders FirstSource during the 2nd quarter worth $27,000. Westside Investment Management Inc. purchased a new stake in shares of Builders FirstSource during the first quarter worth about $31,000. ORG Partners LLC acquired a new position in shares of Builders FirstSource during the first quarter valued at about $33,000. American Capital Advisory LLC purchased a new position in shares of Builders FirstSource in the 1st quarter valued at approximately $34,000. Finally, First Horizon Advisors Inc. boosted its stake in Builders FirstSource by 42.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after purchasing an additional 75 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Craig Arthur Steinke sold 30,000 shares of the firm’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 transaction, the director now directly owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Robert W. Baird raised shares of Builders FirstSource from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $185.00 to $190.00 in a report on Wednesday, August 7th. Wedbush restated an “outperform” rating and issued a $175.00 target price on shares of Builders FirstSource in a research note on Tuesday, August 6th. Barclays boosted their price target on Builders FirstSource from $182.00 to $211.00 and gave the company an “overweight” rating in a research note on Wednesday. Royal Bank of Canada reduced their price objective on Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, Loop Capital upped their target price on Builders FirstSource from $190.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $196.38.

Builders FirstSource Price Performance

BLDR stock traded up $1.25 during mid-day trading on Friday, reaching $193.00. 918,828 shares of the company’s stock were exchanged, compared to its average volume of 1,599,614. The company has a market cap of $23.56 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 11.48 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. The stock’s 50 day moving average is $177.50 and its 200 day moving average is $170.23. 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 (NYSE:BLDR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.48. The firm had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.89 EPS. On average, research analysts expect that Builders FirstSource, Inc. will post 11.68 EPS for the current year.

Builders FirstSource announced that its Board of Directors has initiated a stock repurchase program on Tuesday, August 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs 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.