Builders FirstSource, Inc. (NYSE:BLDR) Shares Sold by ClariVest Asset Management LLC

ClariVest Asset Management LLC cut its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 1.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,115 shares of the company’s stock after selling 164 shares during the period. ClariVest Asset Management LLC’s holdings in Builders FirstSource were worth $2,092,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its holdings in shares of Builders FirstSource by 42.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after purchasing an additional 75 shares during the period. Team Hewins LLC increased its position in shares of Builders FirstSource by 6.5% during the first quarter. Team Hewins LLC now owns 1,313 shares of the company’s stock valued at $274,000 after acquiring an additional 80 shares during the last quarter. Csenge Advisory Group raised its stake in shares of Builders FirstSource by 1.9% in the 2nd quarter. Csenge Advisory Group now owns 4,252 shares of the company’s stock valued at $589,000 after acquiring an additional 81 shares during the period. Congress Wealth Management LLC DE lifted its holdings in shares of Builders FirstSource by 1.4% in the 4th quarter. Congress Wealth Management LLC DE now owns 6,197 shares of the company’s stock worth $1,035,000 after acquiring an additional 85 shares during the last quarter. Finally, Quarry LP boosted its position in shares of Builders FirstSource by 49.7% during the 4th quarter. Quarry LP now owns 280 shares of the company’s stock worth $47,000 after purchasing an additional 93 shares during the period. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Builders FirstSource Trading Up 2.9 %

NYSE:BLDR opened at $171.04 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. Builders FirstSource, Inc. has a 1 year low of $105.24 and a 1 year high of $214.70. The stock has a market cap of $19.92 billion, a P/E ratio of 14.64, a P/E/G ratio of 9.76 and a beta of 2.06. The stock has a 50-day simple moving average of $159.80 and a 200-day simple moving average of $171.13.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.02 by $0.48. The company had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.89 earnings per share. As a group, analysts anticipate that Builders FirstSource, Inc. will post 11.91 earnings per share for the current fiscal year.

Builders FirstSource announced that its board has authorized a stock buyback plan on Tuesday, August 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have issued reports on BLDR shares. Robert W. Baird raised Builders FirstSource from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $185.00 to $190.00 in a research report on Wednesday, August 7th. Bank of America downgraded Builders FirstSource from a “buy” rating to a “neutral” rating and cut their price objective for the company from $183.00 to $180.00 in a report on Friday, August 2nd. Zelman & Associates restated a “hold” rating on shares of Builders FirstSource in a report on Monday, June 17th. Royal Bank of Canada cut their price target on shares of Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Wedbush restated an “outperform” rating and issued a $175.00 price objective on shares of Builders FirstSource in a report on Tuesday, August 6th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $181.57.

Insider Buying and Selling

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following the completion of the transaction, the director now owns 95,333 shares in the company, valued at $14,650,775.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by company insiders.

Builders FirstSource 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.