The Manufacturers Life Insurance Company Sells 4,640 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

The Manufacturers Life Insurance Company cut its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 6.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,686 shares of the company’s stock after selling 4,640 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Builders FirstSource worth $13,509,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BLDR. Janus Henderson Group PLC raised its position in shares of Builders FirstSource by 21.1% in the first quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock worth $4,173,000 after buying an additional 3,483 shares in the last quarter. Atria Investments Inc boosted its stake in shares of Builders FirstSource by 39.1% in the 1st quarter. Atria Investments Inc now owns 9,781 shares of the company’s stock valued at $2,040,000 after purchasing an additional 2,750 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Builders FirstSource by 762.2% during the 1st quarter. Cetera Investment Advisers now owns 50,982 shares of the company’s stock valued at $10,632,000 after purchasing an additional 45,069 shares during the last quarter. Cetera Advisors LLC raised its position in Builders FirstSource by 110.0% in the 1st quarter. Cetera Advisors LLC now owns 7,948 shares of the company’s stock worth $1,658,000 after purchasing an additional 4,163 shares during the period. Finally, First Hawaiian Bank bought a new stake in Builders FirstSource in the second quarter worth $261,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Builders FirstSource Stock Performance

BLDR stock opened at $186.47 on Monday. The stock’s fifty day moving average price is $185.33 and its 200-day moving average price is $168.49. The company has a market cap of $21.46 billion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 1.04 and a beta of 2.08. 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.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share (EPS) 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 the consensus estimate of $4.44 billion. During the same quarter in the prior year, the firm posted $4.24 earnings per share. The business’s revenue was down 6.7% on a year-over-year basis. On average, equities analysts forecast that Builders FirstSource, Inc. will post 11.56 earnings per share for the current year.

Builders FirstSource announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 5.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

BLDR has been the topic of a number of recent research reports. Robert W. Baird raised their price objective on Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Stifel Nicolaus reduced their price target on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Stephens raised 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. UBS Group started coverage on shares of Builders FirstSource in a report on Friday, October 25th. They set a “buy” rating and a $232.00 price target for the company. Finally, Loop Capital raised their price target on shares of Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $206.47.

Insider Activity at Builders FirstSource

In related news, Director Cleveland A. Christophe sold 10,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were 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 of the company’s stock, valued at $5,902,338.03. This represents a 23.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is owned by corporate 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.