MAI Capital Management Cuts Stake in Builders FirstSource, Inc. (NYSE:BLDR)

MAI Capital Management lowered its position in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 75.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,781 shares of the company's stock after selling 14,970 shares during the quarter. MAI Capital Management's holdings in Builders FirstSource were worth $927,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Forsta AP Fonden grew its holdings in Builders FirstSource by 12.1% during the 3rd quarter. Forsta AP Fonden now owns 26,800 shares of the company's stock valued at $5,195,000 after buying an additional 2,900 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Builders FirstSource by 762.2% during the first quarter. Cetera Investment Advisers now owns 50,982 shares of the company's stock worth $10,632,000 after purchasing an additional 45,069 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Builders FirstSource by 21.1% during the first quarter. Janus Henderson Group PLC now owns 20,013 shares of the company's stock worth $4,173,000 after purchasing an additional 3,483 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Builders FirstSource by 18.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 115,995 shares of the company's stock worth $16,055,000 after purchasing an additional 18,223 shares in the last quarter. Finally, AMF Tjanstepension AB purchased a new position in shares of Builders FirstSource during the third quarter worth about $1,471,000. Hedge funds and other institutional investors own 95.53% of the company's stock.

Builders FirstSource Stock Performance

Shares of NYSE:BLDR traded up $2.61 during midday trading on Friday, reaching $178.52. 823,108 shares of the company's stock traded hands, compared to its average volume of 1,559,531. Builders FirstSource, Inc. has a one year low of $130.75 and a one year high of $214.70. The stock has a 50 day moving average of $186.33 and a 200 day moving average of $167.97. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.77. The company has a market cap of $20.54 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 1.00 and a beta of 2.08.

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

Builders FirstSource announced that its board has initiated a stock repurchase program on Tuesday, August 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling at Builders FirstSource

In other news, Director Cleveland A. Christophe sold 10,000 shares of the firm's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $178.41, for a total value of $1,784,100.00. Following the transaction, the director now owns 33,083 shares of the company's stock, valued at $5,902,338.03. This trade represents a 23.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BLDR has been the subject of several recent analyst reports. Loop Capital boosted their price objective on Builders FirstSource from $190.00 to $230.00 and gave the stock a "buy" rating in a report on Friday, September 20th. Truist Financial raised Builders FirstSource from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $165.00 to $220.00 in a report on Monday, September 16th. Wedbush reissued an "outperform" rating and set a $230.00 price objective on shares of Builders FirstSource in a report on Wednesday, November 6th. Bank of America boosted their target price on Builders FirstSource from $165.00 to $198.00 and gave the stock a "neutral" rating in a research report on Thursday, September 19th. Finally, DA Davidson boosted their target price on Builders FirstSource from $169.00 to $175.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Builders FirstSource has a consensus rating of "Moderate Buy" and a consensus target price of $206.47.

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.