Kentucky Retirement Systems Sells 1,085 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Kentucky Retirement Systems lessened its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 11.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,113 shares of the company’s stock after selling 1,085 shares during the period. Kentucky Retirement Systems’ holdings in Builders FirstSource were worth $1,573,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Armstrong Advisory Group Inc. bought a new stake in Builders FirstSource during the third quarter worth about $30,000. Innealta Capital LLC acquired a new position in shares of Builders FirstSource in the 2nd quarter worth approximately $27,000. Reston Wealth Management LLC bought a new stake in Builders FirstSource during the 3rd quarter worth approximately $39,000. First Horizon Advisors Inc. increased its holdings in Builders FirstSource by 42.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after purchasing an additional 75 shares in the last quarter. Finally, Friedenthal Financial bought a new position in Builders FirstSource in the 3rd quarter valued at $50,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on BLDR. DA Davidson increased their target price on Builders FirstSource from $169.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Royal Bank of Canada increased their price objective on shares of Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Benchmark dropped their target price on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. B. Riley decreased their price target on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus dropped their price objective on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Five research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $206.47.

Insiders Place Their Bets

In other 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Builders FirstSource Stock Performance

Shares of BLDR stock opened at $178.30 on Tuesday. The stock has a market cap of $20.52 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 0.98 and a beta of 2.08. The stock has a 50-day moving average of $185.83 and a 200-day moving average of $168.06. 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, Inc. has a one year low of $130.75 and a one year high of $214.70.

Builders FirstSource (NYSE:BLDR) last posted its earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share for the quarter, missing the consensus estimate of $3.09 by ($0.02). Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same quarter last year, the business posted $4.24 earnings per share. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. 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 initiated a stock buyback plan on Tuesday, August 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.