Soros Fund Management LLC Cuts Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Soros Fund Management LLC lowered its holdings in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 56.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,800 shares of the company's stock after selling 37,398 shares during the period. Soros Fund Management LLC's holdings in Builders FirstSource were worth $5,583,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new stake in Builders FirstSource in the 3rd quarter valued at about $28,000. Armstrong Advisory Group Inc. acquired a new position in shares of Builders FirstSource during the third quarter worth about $30,000. Innealta Capital LLC purchased a new stake in shares of Builders FirstSource during the second quarter worth approximately $27,000. Reston Wealth Management LLC acquired a new stake in Builders FirstSource in the third quarter valued at approximately $39,000. Finally, Brown Brothers Harriman & Co. purchased a new position in Builders FirstSource in the third quarter worth approximately $46,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BLDR has been the subject of a number of recent analyst reports. Royal Bank of Canada lifted their price target on Builders FirstSource from $178.00 to $187.00 and gave the stock an "outperform" rating 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 note on Thursday, September 19th. StockNews.com raised Builders FirstSource from a "hold" rating to a "buy" rating in a report on Wednesday. Jefferies Financial Group raised their price objective on shares of Builders FirstSource from $185.00 to $223.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group started coverage on shares of Builders FirstSource in a report on Thursday, October 10th. They issued a "buy" rating and a $225.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Builders FirstSource has a consensus rating of "Moderate Buy" and an average target price of $206.47.

Insiders Place Their Bets

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 shares were sold at an average price of $178.41, for a total value of $1,784,100.00. Following the sale, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.80% of the company's stock.

Builders FirstSource Price Performance

BLDR traded down $0.81 during trading on Friday, reaching $175.08. 342,610 shares of the stock were exchanged, compared to its average volume of 1,536,255. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.77 and a quick ratio of 1.16. The company has a market capitalization of $20.15 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 1.03 and a beta of 2.06. Builders FirstSource, Inc. has a 1 year low of $130.75 and a 1 year high of $214.70. The business's 50 day moving average price is $184.36 and its two-hundred day moving average price is $168.85.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its quarterly 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). Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The company had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $4.44 billion. During the same period in the previous year, the business posted $4.24 EPS. The business's quarterly revenue was down 6.7% on a year-over-year basis. As a group, equities research analysts anticipate that Builders FirstSource, Inc. will post 11.56 earnings per share for the current year.

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.