Builders FirstSource, Inc. (NYSE:BLDR) Shares Sold by Empowered Funds LLC

Empowered Funds LLC lowered its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 51.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,394 shares of the company’s stock after selling 48,432 shares during the period. Empowered Funds LLC’s holdings in Builders FirstSource were worth $8,800,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. CIBC Asset Management Inc increased its stake in Builders FirstSource by 4.2% during the 3rd quarter. CIBC Asset Management Inc now owns 17,483 shares of the company’s stock worth $3,389,000 after buying an additional 710 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new stake in shares of Builders FirstSource in the third quarter worth approximately $273,000. ING Groep NV increased its position in shares of Builders FirstSource by 1,939.0% during the third quarter. ING Groep NV now owns 31,075 shares of the company’s stock worth $6,024,000 after purchasing an additional 29,551 shares in the last quarter. Huntington National Bank increased its position in shares of Builders FirstSource by 68.5% during the third quarter. Huntington National Bank now owns 1,282 shares of the company’s stock worth $249,000 after purchasing an additional 521 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in Builders FirstSource in the 3rd quarter valued at $521,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Analysts Set New Price Targets

BLDR has been the subject of a number of research reports. B. Riley dropped their target price on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. UBS Group began coverage on shares of Builders FirstSource in a report on Friday, October 25th. They issued a “buy” rating and a $232.00 price objective for the company. Bank of America raised their target price on shares of Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. StockNews.com lowered Builders FirstSource from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Stephens lifted their price objective on Builders FirstSource from $178.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $206.47.

Builders FirstSource Price Performance

BLDR opened at $176.28 on Friday. 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 firm has a market cap of $20.29 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.00 and a beta of 2.08. The stock’s 50-day moving average price is $185.83 and its 200 day moving average price is $168.28. Builders FirstSource, Inc. has a 12-month low of $129.80 and a 12-month high of $214.70.

Builders FirstSource (NYSE:BLDR) last released its 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 analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company earned $4.24 earnings per share. As a group, sell-side analysts expect that Builders FirstSource, Inc. will post 11.56 earnings per share for the current year.

Builders FirstSource announced that its board has authorized a share repurchase program on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 5.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, Director Cleveland A. Christophe sold 10,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 33,083 shares of the company’s stock, valued at approximately $5,902,338.03. This represents a 23.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.80% of the company’s stock.

Builders FirstSource 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.