Lord Abbett & CO. LLC Sells 263,493 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Lord Abbett & CO. LLC lowered its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 70.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 108,780 shares of the company's stock after selling 263,493 shares during the period. Lord Abbett & CO. LLC owned approximately 0.09% of Builders FirstSource worth $21,088,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of BLDR. Mountaineer Partners Management LLC acquired a new stake in Builders FirstSource during the 3rd quarter worth $2,099,877,000. FMR LLC raised its position in shares of Builders FirstSource by 45.7% during the third quarter. FMR LLC now owns 10,158,152 shares of the company's stock worth $1,969,259,000 after purchasing an additional 3,186,876 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Builders FirstSource by 23.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,458,255 shares of the company's stock valued at $282,697,000 after purchasing an additional 277,897 shares in the last quarter. Baillie Gifford & Co. acquired a new position in shares of Builders FirstSource in the 3rd quarter valued at approximately $267,132,000. Finally, Diamond Hill Capital Management Inc. bought a new stake in Builders FirstSource during the 3rd quarter worth approximately $255,867,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Builders FirstSource Stock Performance

Shares of BLDR stock traded down $5.89 on Monday, hitting $160.54. The company's stock had a trading volume of 1,948,848 shares, compared to its average volume of 1,532,036. Builders FirstSource, Inc. has a fifty-two week low of $130.75 and a fifty-two week high of $214.70. The company has a market capitalization of $18.48 billion, a PE ratio of 15.68, a PEG ratio of 0.96 and a beta of 2.06. The stock's 50 day moving average is $181.06 and its 200-day moving average is $169.14. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.77.

Builders FirstSource (NYSE:BLDR - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.02). Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter last year, the firm posted $4.24 earnings per share. The company's quarterly revenue was down 6.7% on a year-over-year basis. Equities research analysts expect that Builders FirstSource, Inc. will post 11.55 earnings per share for the current fiscal year.

Insider Transactions at Builders FirstSource

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of Builders FirstSource 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 in the company, valued at $5,902,338.03. The trade was a 23.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Stephens increased their target price on Builders FirstSource from $178.00 to $200.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Loop Capital increased 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. StockNews.com lowered Builders FirstSource from a "buy" rating to a "hold" rating in a research report on Monday. Royal Bank of Canada upped their price target on Builders FirstSource from $178.00 to $187.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Finally, Wedbush reiterated an "outperform" rating and issued a $230.00 price objective on shares of Builders FirstSource in a report on Wednesday, November 6th. Four investment 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $210.00.

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.