Wedge Capital Management L L P NC Reduces Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Wedge Capital Management L L P NC cut its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 14.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 52,870 shares of the company’s stock after selling 8,698 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Builders FirstSource were worth $10,249,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BLDR. New Mexico Educational Retirement Board lifted its stake in Builders FirstSource by 512.3% in the 1st quarter. New Mexico Educational Retirement Board now owns 39,800 shares of the company’s stock worth $8,300,000 after purchasing an additional 33,300 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Builders FirstSource by 273.0% during the 1st quarter. SG Americas Securities LLC now owns 62,622 shares of the company’s stock valued at $13,060,000 after acquiring an additional 45,832 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Builders FirstSource by 762.2% during the 1st quarter. Cetera Investment Advisers now owns 50,982 shares of the company’s stock valued at $10,632,000 after acquiring an additional 45,069 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Builders FirstSource by 21.1% during the first quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock worth $4,173,000 after purchasing an additional 3,483 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Builders FirstSource by 18.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 115,995 shares of the company’s stock worth $16,055,000 after purchasing an additional 18,223 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors.

Builders FirstSource Stock Performance

Shares of Builders FirstSource stock opened at $196.71 on Tuesday. The stock has a market cap of $24.01 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 11.48 and a beta of 2.06. 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 1 year low of $105.24 and a 1 year high of $214.70. The firm’s 50-day moving average is $178.44 and its 200 day moving average is $169.61.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.48. The company had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.89 earnings per share. Sell-side analysts anticipate that Builders FirstSource, Inc. will post 11.68 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on BLDR shares. B. Riley cut their price target on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Jefferies Financial Group upped their target price on shares of Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Baird R W upgraded Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Benchmark cut their price objective on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Stifel Nicolaus decreased their price objective on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $196.38.

Insider Transactions at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was 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 in the company, valued at $14,650,775.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.80% of the company’s stock.

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.