Intech Investment Management LLC Has $20.41 Million Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Intech Investment Management LLC cut its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 48.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,290 shares of the company's stock after selling 99,633 shares during the period. Intech Investment Management LLC owned 0.09% of Builders FirstSource worth $20,412,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of BLDR. Innealta Capital LLC acquired a new position in shares of Builders FirstSource during the 2nd quarter worth about $27,000. Armstrong Advisory Group Inc. acquired a new position in shares of Builders FirstSource in the 3rd quarter valued at $30,000. First Horizon Advisors Inc. increased its position in shares of Builders FirstSource by 42.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company's stock valued at $35,000 after buying an additional 75 shares in the last quarter. New Millennium Group LLC acquired a new stake in Builders FirstSource during the 2nd quarter worth $38,000. Finally, Reston Wealth Management LLC bought a new position in Builders FirstSource during the third quarter worth about $39,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Builders FirstSource Stock Performance

Shares of Builders FirstSource stock opened at $174.95 on Thursday. 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 fifty-two week low of $130.75 and a fifty-two week high of $214.70. The firm has a market capitalization of $20.13 billion, a P/E ratio of 17.08, a P/E/G ratio of 0.98 and a beta of 2.08. The company's 50 day moving average price is $186.33 and its two-hundred day moving average price is $167.92.

Builders FirstSource (NYSE:BLDR - Get Free Report) last posted its quarterly earnings data 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). The company 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 business's revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.24 earnings per share. On average, equities analysts forecast that Builders FirstSource, Inc. will post 11.56 earnings per share for the current fiscal year.

Builders FirstSource declared that its board has authorized a share buyback plan on Tuesday, August 6th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Cleveland A. Christophe sold 10,000 shares of the firm'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 sale, 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 document filed with the SEC, which is available at the SEC website. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BLDR shares. Truist Financial upgraded Builders FirstSource from a "hold" rating to a "buy" rating and lifted their price objective for the company from $165.00 to $220.00 in a report on Monday, September 16th. DA Davidson upped their price target on shares of Builders FirstSource from $169.00 to $175.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. Wedbush reaffirmed an "outperform" rating and issued a $230.00 price objective on shares of Builders FirstSource in a research report on Wednesday, November 6th. Bank of America boosted their price objective on shares of Builders FirstSource from $165.00 to $198.00 and gave the stock a "neutral" rating in a research report on Thursday, September 19th. Finally, Barclays lifted their price target on shares of Builders FirstSource from $182.00 to $211.00 and gave the company an "overweight" rating in a research note on Wednesday, October 9th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Builders FirstSource presently has a consensus rating of "Moderate Buy" and an average price target of $206.47.

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.

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