Glenmede Trust Co. NA Trims Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Glenmede Trust Co. NA lowered its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 21.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,452 shares of the company’s stock after selling 2,805 shares during the quarter. Glenmede Trust Co. NA’s holdings in Builders FirstSource were worth $2,026,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Forsta AP Fonden increased its holdings in Builders FirstSource by 12.1% in the 3rd quarter. Forsta AP Fonden now owns 26,800 shares of the company’s stock worth $5,195,000 after acquiring an additional 2,900 shares in the last quarter. Cetera Investment Advisers increased its holdings in Builders FirstSource by 762.2% in the 1st quarter. Cetera Investment Advisers now owns 50,982 shares of the company’s stock worth $10,632,000 after acquiring an additional 45,069 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Builders FirstSource by 21.1% in the 1st quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock worth $4,173,000 after acquiring an additional 3,483 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Builders FirstSource by 18.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 115,995 shares of the company’s stock worth $16,055,000 after acquiring an additional 18,223 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Builders FirstSource by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 785,842 shares of the company’s stock worth $152,343,000 after acquiring an additional 16,000 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Insider Buying and Selling at Builders FirstSource

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of Builders FirstSource stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $178.41, for a total value of $1,784,100.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BLDR has been the subject of several analyst reports. Truist Financial raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and increased their target price for the stock from $165.00 to $220.00 in a report on Monday, September 16th. Bank of America increased their target price on shares of Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Loop Capital increased their price objective on shares of Builders FirstSource from $190.00 to $230.00 and gave the company a “buy” rating in a report on Friday, September 20th. The Goldman Sachs Group assumed coverage on shares of Builders FirstSource in a report on Thursday, October 10th. They set a “buy” rating and a $225.00 price objective for the company. Finally, Benchmark cut their price objective on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $206.47.

Builders FirstSource Stock Performance

Shares of Builders FirstSource stock opened at $186.47 on Monday. The firm has a market cap of $21.46 billion, a P/E ratio of 18.21, a P/E/G ratio of 1.04 and a beta of 2.08. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. Builders FirstSource, Inc. has a 12 month low of $130.75 and a 12 month high of $214.70. The stock’s fifty day moving average price is $185.33 and its 200-day moving average price is $168.49.

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

Builders FirstSource announced that its Board of Directors has authorized a share buyback program on Tuesday, August 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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.