Pitcairn Co. Sells 4,066 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Pitcairn Co. cut its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 29.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,813 shares of the company’s stock after selling 4,066 shares during the period. Pitcairn Co.’s holdings in Builders FirstSource were worth $1,902,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Innealta Capital LLC acquired a new stake in shares of Builders FirstSource in the 2nd quarter valued at about $27,000. Armstrong Advisory Group Inc. acquired a new stake in shares of Builders FirstSource in the 3rd quarter valued at about $30,000. First Horizon Advisors Inc. grew its stake in shares of Builders FirstSource by 42.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after buying an additional 75 shares during the period. New Millennium Group LLC acquired a new stake in shares of Builders FirstSource in the 2nd quarter valued at about $38,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of Builders FirstSource in the 3rd quarter valued at about $39,000. 95.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

BLDR has been the subject of several research reports. Bank of America raised their target price on Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Stephens lifted their price target on Builders FirstSource from $178.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. B. Riley cut their price target on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada boosted their target price on Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group boosted their target price on 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 issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.47.

Builders FirstSource Price Performance

Shares of NYSE:BLDR opened at $178.52 on Friday. The company’s fifty day moving average price is $186.23 and its 200-day moving average price is $167.82. The firm has a market capitalization of $20.54 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 0.98 and a beta of 2.08. Builders FirstSource, Inc. has a one year low of $130.75 and a one year high of $214.70. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.77 and a quick ratio of 1.16.

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

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

Insider Activity

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the completion of the sale, 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 filing with the SEC, which is available at the SEC website. 1.80% of the stock is owned by corporate insiders.

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.