Hartford Investment Management Co. Decreases Stock Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Hartford Investment Management Co. lessened its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 6.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,366 shares of the company’s stock after selling 468 shares during the period. Hartford Investment Management Co.’s holdings in Builders FirstSource were worth $1,428,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Boston Partners boosted its holdings in Builders FirstSource by 0.8% in the 1st quarter. Boston Partners now owns 1,377,335 shares of the company’s stock worth $285,794,000 after acquiring an additional 10,551 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Builders FirstSource by 339.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock worth $163,373,000 after buying an additional 911,990 shares during the period. Bank of New York Mellon Corp lifted its holdings in Builders FirstSource by 22.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock worth $147,059,000 after buying an additional 196,571 shares in the last quarter. William Blair Investment Management LLC boosted its position in Builders FirstSource by 1.2% in the 2nd quarter. William Blair Investment Management LLC now owns 1,051,461 shares of the company’s stock valued at $145,533,000 after buying an additional 12,518 shares during the last quarter. Finally, Anomaly Capital Management LP grew its stake in shares of Builders FirstSource by 22.5% during the second quarter. Anomaly Capital Management LP now owns 1,020,441 shares of the company’s stock valued at $141,239,000 after acquiring an additional 187,371 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Builders FirstSource Stock Performance

BLDR stock opened at $180.85 on Friday. Builders FirstSource, Inc. has a 1 year low of $105.24 and a 1 year high of $214.70. The stock has a market capitalization of $22.07 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 11.48 and a beta of 2.06. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. The stock’s fifty day moving average is $183.91 and its two-hundred day moving average is $169.13.

Builders FirstSource (NYSE:BLDR) last posted its earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.48. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The firm had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.48 billion. During the same period in the previous year, the business posted $3.89 EPS. Builders FirstSource’s revenue was down 1.6% on a year-over-year basis. On average, research analysts predict that Builders FirstSource, Inc. will post 11.68 EPS for the current year.

Builders FirstSource announced that its Board of Directors has authorized a share repurchase program on Tuesday, August 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BLDR shares. StockNews.com upgraded Builders FirstSource from a “hold” rating to a “buy” rating in a research note on Monday, September 23rd. Bank of America raised their price target on shares of Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Benchmark reduced their price objective on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Robert W. Baird boosted their target price on shares of Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Loop Capital increased their price target on shares of Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.35.

Insider Buying and Selling

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the sale, the director now owns 95,333 shares of the company’s stock, valued at $14,650,775.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

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.