Plato Investment Management Ltd Cuts Position in Builders FirstSource, Inc. (NYSE:BLDR)

Plato Investment Management Ltd reduced its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 95.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 176 shares of the company’s stock after selling 3,877 shares during the quarter. Plato Investment Management Ltd’s holdings in Builders FirstSource were worth $34,000 at the end of the most recent quarter.

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

Insider Activity at Builders FirstSource

In other news, Director Cleveland A. Christophe sold 10,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 33,083 shares in the company, valued at approximately $5,902,338.03. The trade was a 23.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

BLDR has been the topic of a number of analyst reports. Stephens lifted their target price on Builders FirstSource from $178.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. StockNews.com lowered Builders FirstSource from a “buy” rating to a “hold” rating in a research report on Tuesday. DA Davidson raised their price target on shares of Builders FirstSource from $169.00 to $175.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price target on shares of Builders FirstSource in a report on Tuesday, October 29th. Finally, 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 report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $206.47.

Builders FirstSource Trading Down 2.7 %

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

Builders FirstSource (NYSE:BLDR) last posted 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 company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.44 billion. Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.24 earnings per share. Equities research analysts expect that Builders FirstSource, Inc. will post 11.56 EPS for the current year.

Builders FirstSource declared that its Board of Directors has initiated a share buyback program on Tuesday, August 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 5.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board 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.