Flagship Harbor Advisors LLC Lowers Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Flagship Harbor Advisors LLC cut its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 11.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,575 shares of the company’s stock after selling 324 shares during the period. Flagship Harbor Advisors LLC’s holdings in Builders FirstSource were worth $322,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BLDR. SBI Securities Co. Ltd. purchased a new stake in shares of Builders FirstSource in the 4th quarter valued at $34,000. Sentry Investment Management LLC purchased a new position in shares of Builders FirstSource during the first quarter worth about $40,000. CX Institutional purchased a new position in Builders FirstSource during the 1st quarter worth $45,000. Smartleaf Asset Management LLC lifted its position in Builders FirstSource by 34.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 518 shares of the company’s stock worth $74,000 after acquiring an additional 134 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new position in Builders FirstSource in the 4th quarter valued at $74,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Stephens lowered their target price on shares of Builders FirstSource from $145.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Barclays cut their target price on Builders FirstSource from $151.00 to $137.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $132.00 target price on shares of Builders FirstSource in a research report on Thursday, May 15th. Wedbush dropped their price objective on Builders FirstSource from $190.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, June 20th. Finally, Loop Capital reduced their price objective on Builders FirstSource from $190.00 to $170.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $163.11.

Insider Transactions at Builders FirstSource

In related news, Director Dirkson R. Charles purchased 5,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was bought at an average cost of $109.67 per share, with a total value of $548,350.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at $548,350. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Paul S. Levy bought 283,517 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average cost of $111.21 per share, with a total value of $31,529,925.57. Following the completion of the purchase, the director now owns 1,672,687 shares in the company, valued at $186,019,521.27. This represents a 20.41% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 505,000 shares of company stock worth $56,032,120. Company insiders own 2.00% of the company’s stock.

Builders FirstSource Stock Down 2.3%

BLDR opened at $116.05 on Thursday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.07 and a current ratio of 1.82. The stock’s fifty day moving average is $113.71 and its 200-day moving average is $133.53. Builders FirstSource, Inc. has a one year low of $102.60 and a one year high of $203.14. The company has a market capitalization of $12.82 billion, a PE ratio of 14.88, a P/E/G ratio of 7.57 and a beta of 1.69.

Builders FirstSource (NYSE:BLDR) last announced its earnings results on Thursday, May 1st. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.50 by $0.01. The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Builders FirstSource had a net margin of 5.66% and a return on equity of 28.02%. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period last year, the company posted $2.65 earnings per share. On average, equities analysts predict that Builders FirstSource, Inc. will post 11.59 EPS for the current fiscal year.

Builders FirstSource announced that its board has approved a stock repurchase plan on Thursday, May 1st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.