Firetrail Investments PTY Ltd. Sells 1,230 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Firetrail Investments PTY Ltd. cut its position in Builders FirstSource, Inc. (NYSE:BLDR) by 3.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 38,139 shares of the company’s stock after selling 1,230 shares during the period. Builders FirstSource makes up about 2.1% of Firetrail Investments PTY Ltd.’s investment portfolio, making the stock its 27th largest holding. Firetrail Investments PTY Ltd.’s holdings in Builders FirstSource were worth $7,386,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. purchased a new position in Builders FirstSource in the 3rd quarter worth approximately $521,000. Oppenheimer & Co. Inc. raised its stake in shares of Builders FirstSource by 2.7% in the third quarter. Oppenheimer & Co. Inc. now owns 27,203 shares of the company’s stock worth $5,274,000 after purchasing an additional 721 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Builders FirstSource by 46.2% during the third quarter. Victory Capital Management Inc. now owns 564,895 shares of the company’s stock valued at $109,511,000 after purchasing an additional 178,449 shares in the last quarter. Aptus Capital Advisors LLC purchased a new stake in shares of Builders FirstSource during the third quarter valued at $273,000. Finally, Ashton Thomas Private Wealth LLC increased its holdings in Builders FirstSource by 16.0% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 1,333 shares of the company’s stock worth $258,000 after buying an additional 184 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BLDR. Robert W. Baird upped their target price on shares of Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. DA Davidson raised their target price on shares of Builders FirstSource from $169.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Wedbush reiterated an “outperform” rating and set a $230.00 target price on shares of Builders FirstSource in a research note on Wednesday, November 6th. Benchmark lowered their price target on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price objective on shares of Builders FirstSource in a report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Builders FirstSource currently has a consensus rating of “Moderate Buy” and an average price target of $206.47.

Insider Activity

In related news, Director Cleveland A. Christophe sold 10,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $5,902,338.03. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

Builders FirstSource Price Performance

Shares of NYSE:BLDR opened at $179.88 on Thursday. The company has a market capitalization of $20.70 billion, a P/E ratio of 17.57, a P/E/G ratio of 1.00 and a beta of 2.08. Builders FirstSource, Inc. has a 1-year low of $127.49 and a 1-year high of $214.70. The firm’s 50 day simple moving average is $185.41 and its two-hundred day simple moving average is $168.26. 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 (NYSE:BLDR) last released 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 firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same quarter last year, the firm posted $4.24 EPS. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. Research analysts expect that Builders FirstSource, Inc. will post 11.56 EPS for the current fiscal year.

Builders FirstSource announced that its Board of Directors has initiated a share repurchase plan on Tuesday, August 6th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.