New York State Teachers Retirement System Cuts Stake in Builders FirstSource, Inc. (NYSE:BLDR)

New York State Teachers Retirement System lowered its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 1.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 152,559 shares of the company’s stock after selling 2,803 shares during the period. New York State Teachers Retirement System’s holdings in Builders FirstSource were worth $21,116,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BLDR. Allianz Asset Management GmbH lifted its position in shares of Builders FirstSource by 73.9% during the fourth quarter. Allianz Asset Management GmbH now owns 128,348 shares of the company’s stock valued at $21,426,000 after buying an additional 54,557 shares during the last quarter. New York Life Investment Management LLC increased its stake in shares of Builders FirstSource by 437.8% in the 4th quarter. New York Life Investment Management LLC now owns 17,580 shares of the company’s stock valued at $2,935,000 after purchasing an additional 14,311 shares in the last quarter. Boulder Hill Capital Management LP purchased a new stake in Builders FirstSource during the 4th quarter worth approximately $851,000. Victory Capital Management Inc. raised its holdings in shares of Builders FirstSource by 41.6% during the fourth quarter. Victory Capital Management Inc. now owns 213,133 shares of the company’s stock valued at $35,580,000 after acquiring an additional 62,601 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in shares of Builders FirstSource by 11.2% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,416,611 shares of the company’s stock valued at $236,489,000 after acquiring an additional 143,041 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Builders FirstSource Stock Up 7.9 %

NYSE:BLDR traded up $13.25 during trading hours on Friday, hitting $180.80. The stock had a trading volume of 1,656,934 shares, compared to its average volume of 1,629,092. The business has a 50 day simple moving average of $151.98 and a two-hundred day simple moving average of $172.40. Builders FirstSource, Inc. has a 1-year low of $105.24 and a 1-year high of $214.70. The company has a current ratio of 2.21, a quick ratio of 1.45 and a debt-to-equity ratio of 0.75. The company has a market cap of $22.07 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 2.57 and a beta of 2.04.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.48. Builders FirstSource had a net margin of 8.57% and a return on equity of 38.66%. The business had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.48 billion. During the same period last year, the business earned $3.89 EPS. The business’s revenue was down 1.6% on a year-over-year basis. Analysts predict that Builders FirstSource, Inc. will post 12.91 EPS for the current year.

Builders FirstSource announced that its board has initiated a stock repurchase program 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 stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus reduced their target price on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Wedbush restated an “outperform” rating and issued a $175.00 price target on shares of Builders FirstSource in a research report on Tuesday, August 6th. Baird R W upgraded shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Zelman & Associates restated a “hold” rating on shares of Builders FirstSource in a research note on Monday, June 17th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $190.00 price objective (down from $230.00) on shares of Builders FirstSource in a research note on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $180.47.

Insider Buying and Selling

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the sale, the director now directly owns 95,333 shares in the company, valued at approximately $14,650,775.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the transaction, the director now directly owns 95,333 shares of the company’s stock, valued at $14,650,775.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael Hiller sold 4,875 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $159.25, for a total transaction of $776,343.75. Following the completion of the sale, the insider now owns 30,106 shares of the company’s stock, valued at approximately $4,794,380.50. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

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.