Janney Montgomery Scott LLC Cuts Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Janney Montgomery Scott LLC decreased its stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 42.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,674 shares of the company's stock after selling 6,272 shares during the period. Janney Montgomery Scott LLC's holdings in Builders FirstSource were worth $1,682,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Massachusetts Financial Services Co. MA boosted its stake in Builders FirstSource by 339.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company's stock worth $163,373,000 after purchasing an additional 911,990 shares during the period. Bessemer Group Inc. grew its holdings in Builders FirstSource by 477,028.7% in the first quarter. Bessemer Group Inc. now owns 448,501 shares of the company's stock valued at $93,535,000 after purchasing an additional 448,407 shares during the period. Clearbridge Investments LLC purchased a new stake in Builders FirstSource in the second quarter valued at approximately $49,000,000. Oakworth Capital Inc. purchased a new stake in Builders FirstSource in the third quarter valued at approximately $40,955,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Builders FirstSource by 22.7% during the second quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company's stock worth $147,059,000 after purchasing an additional 196,571 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

Builders FirstSource Stock Performance

BLDR traded up $1.33 during trading on Thursday, hitting $181.21. 1,174,033 shares of the company traded hands, compared to its average volume of 1,570,277. The firm has a market cap of $20.85 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 1.00 and a beta of 2.08. The stock's fifty day moving average is $185.68 and its 200 day moving average is $168.35. 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, Inc. has a one year low of $128.57 and a one year high of $214.70.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced 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 company had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $4.44 billion. During the same period in the prior year, the business earned $4.24 earnings per share. The company's revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, equities analysts predict that Builders FirstSource, Inc. will post 11.56 EPS for the current fiscal year.

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

Insider Activity

In related news, Director Cleveland A. Christophe sold 10,000 shares of the 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 sale, the director now owns 33,083 shares in the company, valued at approximately $5,902,338.03. This represents a 23.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BLDR shares. Robert W. Baird upped their price target on shares of Builders FirstSource from $190.00 to $222.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Stephens increased their target price on shares of Builders FirstSource from $178.00 to $200.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Jefferies Financial Group upped their price target on shares of Builders FirstSource from $185.00 to $223.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Benchmark lowered their price target on shares of Builders FirstSource from $220.00 to $200.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. Finally, UBS Group initiated coverage on shares of Builders FirstSource in a research report on Friday, October 25th. They issued a "buy" rating and a $232.00 target price for the company. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Builders FirstSource currently has an average rating of "Moderate Buy" and a consensus target price 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.