Franklin Resources Inc. Lowers Stock Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Franklin Resources Inc. lowered its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 44.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 109,386 shares of the company's stock after selling 87,237 shares during the quarter. Franklin Resources Inc. owned 0.10% of Builders FirstSource worth $21,517,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of BLDR. Raymond James Financial Services Advisors Inc. grew its holdings in Builders FirstSource by 18.6% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 115,995 shares of the company's stock worth $16,055,000 after acquiring an additional 18,223 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of 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 acquiring an additional 75 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Builders FirstSource by 14.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,221 shares of the company's stock valued at $169,000 after acquiring an additional 150 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. raised its position in shares of Builders FirstSource by 189.2% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 8,291 shares of the company's stock worth $1,148,000 after acquiring an additional 5,424 shares in the last quarter. Finally, Highland Capital Management LLC lifted its stake in Builders FirstSource by 12.6% during the second quarter. Highland Capital Management LLC now owns 1,462 shares of the company's stock worth $202,000 after purchasing an additional 164 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Builders FirstSource

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the firm's stock in a transaction 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 owns 33,083 shares of the company's stock, valued at approximately $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 SEC, which is accessible through this link. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Jefferies Financial Group upped their target price on shares of Builders FirstSource from $185.00 to $223.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Truist Financial upgraded Builders FirstSource from a "hold" rating to a "buy" rating and lifted their target price for the stock from $165.00 to $220.00 in a research report on Monday, September 16th. Loop Capital upped their target price on Builders FirstSource from $190.00 to $230.00 and gave the company a "buy" rating in a research report on Friday, September 20th. DA Davidson lifted their price target on Builders FirstSource from $169.00 to $175.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. Finally, StockNews.com downgraded Builders FirstSource from a "buy" rating to a "hold" rating in a report on Monday. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Builders FirstSource presently has a consensus rating of "Moderate Buy" and a consensus price target of $210.00.

Builders FirstSource Price Performance

Shares of BLDR traded up $4.21 on Friday, reaching $150.50. The stock had a trading volume of 4,261,448 shares, compared to its average volume of 1,548,288. Builders FirstSource, Inc. has a twelve month low of $130.75 and a twelve month high of $214.70. The firm has a market capitalization of $17.32 billion, a PE ratio of 14.70, a PEG ratio of 0.96 and a beta of 2.06. The firm has a 50-day moving average of $178.64 and a 200 day moving average of $168.85. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 0.83.

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 the consensus estimate of $3.09 by ($0.02). The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.44 billion. Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The firm's revenue for the quarter was down 6.7% on a year-over-year basis. During the same period last year, the company posted $4.24 EPS. Sell-side analysts expect that Builders FirstSource, Inc. will post 11.55 EPS for the current year.

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.