Whittier Trust Co. Increases Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Whittier Trust Co. raised its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 4.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,630 shares of the company’s stock after purchasing an additional 4,796 shares during the period. Whittier Trust Co.’s holdings in Builders FirstSource were worth $22,610,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Park Avenue Securities LLC raised its position in shares of Builders FirstSource by 7.5% in the first quarter. Park Avenue Securities LLC now owns 2,962 shares of the company’s stock valued at $618,000 after buying an additional 206 shares during the last quarter. Salem Investment Counselors Inc. raised its position in shares of Builders FirstSource by 13.6% in the first quarter. Salem Investment Counselors Inc. now owns 2,680 shares of the company’s stock valued at $559,000 after buying an additional 320 shares during the last quarter. Ballentine Partners LLC acquired a new stake in shares of Builders FirstSource in the first quarter valued at about $248,000. Gateway Investment Advisers LLC acquired a new stake in shares of Builders FirstSource in the first quarter valued at about $334,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in Builders FirstSource during the first quarter worth about $251,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the sale, the director now owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and raised their price objective for the stock from $165.00 to $220.00 in a research report on Monday, September 16th. Barclays raised their price objective on shares of Builders FirstSource from $182.00 to $211.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Robert W. Baird raised their price objective on shares of Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Benchmark cut their price objective on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, B. Riley cut their price objective on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Four 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 stock. Based on data from MarketBeat, Builders FirstSource presently has an average rating of “Moderate Buy” and a consensus price target of $198.38.

Builders FirstSource Stock Down 5.4 %

Builders FirstSource stock traded down $10.51 during trading on Monday, reaching $184.46. The stock had a trading volume of 829,389 shares, compared to its average volume of 1,580,407. Builders FirstSource, Inc. has a 52-week low of $105.24 and a 52-week high of $214.70. The business has a 50 day moving average price of $181.78 and a 200 day moving average price of $169.39. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88. The stock has a market cap of $22.51 billion, a PE ratio of 16.69, a P/E/G ratio of 11.48 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The company had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. During the same quarter last year, the company earned $3.89 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts predict that Builders FirstSource, Inc. will post 11.68 EPS for the current year.

Builders FirstSource announced that its board has approved a stock repurchase plan on Tuesday, August 6th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase plans are generally an indication 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.