Sumitomo Mitsui Trust Group Inc. Reduces Stock Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Sumitomo Mitsui Trust Group Inc. reduced its position in Builders FirstSource, Inc. (NYSE:BLDR) by 0.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 306,985 shares of the company’s stock after selling 2,565 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.26% of Builders FirstSource worth $59,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Baillie Gifford & Co. bought a new stake in Builders FirstSource in the 3rd quarter valued at about $267,132,000. Apollon Wealth Management LLC bought a new stake in shares of Builders FirstSource in the third quarter valued at approximately $258,000. Opinicus Capital Inc. lifted its stake in shares of Builders FirstSource by 14.5% during the 3rd quarter. Opinicus Capital Inc. now owns 2,794 shares of the company’s stock valued at $542,000 after buying an additional 353 shares in the last quarter. Nations Financial Group Inc. IA ADV bought a new position in Builders FirstSource in the 3rd quarter worth approximately $441,000. Finally, Jag Capital Management LLC purchased a new position in Builders FirstSource in the 3rd quarter valued at approximately $11,815,000. 95.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BLDR shares. UBS Group started coverage on Builders FirstSource in a report on Friday, October 25th. They issued a “buy” rating and a $232.00 price target for the company. Benchmark reduced their target price on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Robert W. Baird increased their price target on shares of Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Royal Bank of Canada boosted their price objective on shares of Builders FirstSource from $178.00 to $187.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group increased their target price on shares of Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Builders FirstSource presently has an average rating of “Moderate Buy” and an average price target of $206.47.

Insider Buying and Selling at Builders FirstSource

In other news, Director Cleveland A. Christophe sold 10,000 shares of Builders FirstSource stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $178.41, for a total value of $1,784,100.00. Following the transaction, the director now 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

Builders FirstSource Stock Performance

Shares of NYSE BLDR opened at $181.21 on Friday. The stock has a market cap of $20.85 billion, a price-to-earnings ratio of 17.70, a P/E/G ratio of 1.00 and a beta of 2.08. The stock’s 50-day moving average is $185.68 and its 200 day moving average is $168.35. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. Builders FirstSource, Inc. has a 1-year low of $128.57 and a 1-year high of $214.70.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data 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). Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter in the previous year, the firm posted $4.24 earnings per share. The company’s revenue was down 6.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Builders FirstSource, Inc. will post 11.56 EPS for the current fiscal year.

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

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.