Freedom Investment Management Inc. Has $1.37 Million Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Freedom Investment Management Inc. lessened its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 17.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,078 shares of the company’s stock after selling 1,482 shares during the quarter. Freedom Investment Management Inc.’s holdings in Builders FirstSource were worth $1,372,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cyndeo Wealth Partners LLC lifted its stake in shares of Builders FirstSource by 3.7% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 1,571 shares of the company’s stock valued at $305,000 after purchasing an additional 56 shares during the period. World Equity Group Inc. boosted its holdings in shares of Builders FirstSource by 4.1% during the 3rd quarter. World Equity Group Inc. now owns 1,632 shares of the company’s stock worth $316,000 after buying an additional 64 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Builders FirstSource by 0.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,240 shares of the company’s stock worth $1,417,000 after buying an additional 74 shares during the period. First Horizon Advisors Inc. increased its stake 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 acquiring an additional 75 shares in the last quarter. Finally, Csenge Advisory Group boosted its stake in Builders FirstSource by 1.9% during the second quarter. Csenge Advisory Group now owns 4,252 shares of the company’s stock worth $589,000 after acquiring an additional 81 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Builders FirstSource Trading Down 0.7 %

Shares of Builders FirstSource stock opened at $184.60 on Thursday. Builders FirstSource, Inc. has a 1 year low of $130.75 and a 1 year high of $214.70. 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 firm has a market cap of $21.24 billion, a PE ratio of 18.03, a PEG ratio of 1.06 and a beta of 2.08. The company has a 50 day simple moving average of $186.10 and a two-hundred day simple moving average of $168.16.

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 return on equity of 33.55% and a net margin of 7.40%. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter in the previous year, the firm earned $4.24 EPS. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. Analysts expect that Builders FirstSource, Inc. will post 11.56 earnings per share for the current fiscal year.

Builders FirstSource announced that its board has approved a stock buyback program 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BLDR. DA Davidson lifted their price target on shares of Builders FirstSource from $169.00 to $175.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Barclays increased their price target on Builders FirstSource from $182.00 to $211.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Robert W. Baird lifted their price target on shares of Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Baird R W upgraded shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Benchmark decreased their target price 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. 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $206.47.

Insider Activity

In related news, Director Cleveland A. Christophe sold 10,000 shares of Builders FirstSource stock in a transaction 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 owns 33,083 shares in the company, valued at $5,902,338.03. The trade was a 23.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.80% of the company’s stock.

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.