Cypress Capital Group Lowers Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Cypress Capital Group cut its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,509 shares of the company’s stock after selling 65 shares during the period. Cypress Capital Group’s holdings in Builders FirstSource were worth $874,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in BLDR. Innealta Capital LLC bought a new position in Builders FirstSource in the 2nd quarter valued at $27,000. Armstrong Advisory Group Inc. purchased a new stake in Builders FirstSource in the third quarter valued at about $30,000. First Horizon Advisors Inc. increased its holdings in shares of Builders FirstSource by 42.1% in the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after purchasing an additional 75 shares during the period. New Millennium Group LLC acquired a new position in shares of Builders FirstSource in the second quarter valued at about $38,000. Finally, Reston Wealth Management LLC acquired a new stake in Builders FirstSource during the third quarter worth about $39,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on BLDR. Baird R W raised Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Wedbush reiterated an “outperform” rating and set a $230.00 price objective on shares of Builders FirstSource in a research report on Wednesday, November 6th. B. Riley reduced their price objective on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Oppenheimer restated an “outperform” rating and issued a $225.00 target price on shares of Builders FirstSource in a research report on Tuesday, October 29th. Finally, UBS Group began coverage on Builders FirstSource in a research report on Friday, October 25th. They issued a “buy” rating and a $232.00 target price 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $206.47.

Insider Buying and Selling

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the stock in a transaction 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 transaction, the director now owns 33,083 shares of the company’s stock, valued at $5,902,338.03. This represents a 23.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.80% of the company’s stock.

Builders FirstSource Trading Up 0.6 %

Shares of NYSE BLDR opened at $175.94 on Friday. Builders FirstSource, Inc. has a twelve month low of $130.75 and a twelve month high of $214.70. The stock has a market capitalization of $20.25 billion, a PE ratio of 17.18, a PEG ratio of 1.00 and a beta of 2.08. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. The stock has a fifty day simple moving average of $186.33 and a 200-day simple moving average of $167.92.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The firm’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period last year, the firm earned $4.24 earnings per share. On average, equities analysts forecast that Builders FirstSource, Inc. will post 11.56 earnings per share for the current year.

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