KBC Group NV Trims Stake in Builders FirstSource, Inc. (NYSE:BLDR)

KBC Group NV reduced its position in Builders FirstSource, Inc. (NYSE:BLDR) by 57.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,483 shares of the company’s stock after selling 98,372 shares during the quarter. KBC Group NV owned approximately 0.06% of Builders FirstSource worth $13,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Forsta AP Fonden boosted its position in shares of Builders FirstSource by 12.1% during the third 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 during the last quarter. Cetera Investment Advisers raised its stake in shares of Builders FirstSource by 762.2% in the first quarter. Cetera Investment Advisers now owns 50,982 shares of the company’s stock valued at $10,632,000 after acquiring an additional 45,069 shares during the period. Janus Henderson Group PLC raised its stake 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 valued at $4,173,000 after acquiring an additional 3,483 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake 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 buying an additional 18,223 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in Builders FirstSource in the 1st quarter worth about $3,448,000. 95.53% of the stock is currently owned by institutional investors.

Builders FirstSource Trading Down 2.7 %

BLDR stock opened at $176.28 on Friday. 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 $129.80 and a 12-month high of $214.70. The stock has a market cap of $20.29 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.00 and a beta of 2.08. The business’s 50-day moving average is $185.83 and its 200 day moving average is $168.18.

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). The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period last year, the business earned $4.24 earnings per share. On average, sell-side analysts anticipate that Builders FirstSource, Inc. will post 11.56 EPS for the current fiscal year.

Builders FirstSource declared that its board has approved a stock buyback plan on Tuesday, August 6th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

BLDR has been the topic of several recent research reports. Jefferies Financial Group increased their target price on shares of Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. DA Davidson lifted their target price on shares of Builders FirstSource from $169.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Royal Bank of Canada lifted their target price on shares of Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Stephens raised their price target on shares of Builders FirstSource from $178.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Truist Financial raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and lifted their target price for the company from $165.00 to $220.00 in a report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Builders FirstSource presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.47.

Insider Activity

In related news, Director Cleveland A. Christophe sold 10,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 33,083 shares of the company’s stock, valued at approximately $5,902,338.03. This trade represents a 23.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through 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.