Wedge Capital Management L L P NC Has $8.52 Million Stock Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Wedge Capital Management L L P NC reduced its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 23.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,568 shares of the company’s stock after selling 18,426 shares during the period. Wedge Capital Management L L P NC owned approximately 0.05% of Builders FirstSource worth $8,522,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BLDR. Allianz Asset Management GmbH increased its position in Builders FirstSource by 73.9% during the 4th quarter. Allianz Asset Management GmbH now owns 128,348 shares of the company’s stock worth $21,426,000 after purchasing an additional 54,557 shares in the last quarter. New York Life Investment Management LLC increased its holdings in shares of Builders FirstSource by 437.8% during the fourth quarter. New York Life Investment Management LLC now owns 17,580 shares of the company’s stock worth $2,935,000 after buying an additional 14,311 shares in the last quarter. Boulder Hill Capital Management LP acquired a new position in shares of Builders FirstSource during the fourth quarter worth $851,000. Victory Capital Management Inc. lifted its stake in shares of Builders FirstSource by 41.6% in the 4th quarter. Victory Capital Management Inc. now owns 213,133 shares of the company’s stock valued at $35,580,000 after acquiring an additional 62,601 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Builders FirstSource during the 4th quarter valued at $1,319,000. 95.53% of the stock is currently owned by institutional investors.

Builders FirstSource Stock Down 1.1 %

BLDR traded down $1.78 during midday trading on Friday, hitting $162.87. The company had a trading volume of 210,813 shares, compared to its average volume of 1,634,153. The stock’s 50 day moving average price is $149.89 and its 200 day moving average price is $172.88. Builders FirstSource, Inc. has a 52 week low of $105.24 and a 52 week high of $214.70. The company has a market capitalization of $19.88 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 2.57 and a beta of 2.04. The company has a quick ratio of 1.45, a current ratio of 2.21 and a debt-to-equity ratio of 0.75.

Builders FirstSource (NYSE:BLDR) last issued its earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.48. The business had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.48 billion. Builders FirstSource had a return on equity of 38.66% and a net margin of 8.57%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.89 EPS. On average, research analysts anticipate that Builders FirstSource, Inc. will post 12.91 earnings per share for the current fiscal year.

Builders FirstSource announced that its Board of Directors has initiated a share buyback program on Tuesday, August 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have recently commented on BLDR. Oppenheimer reissued an “outperform” rating and set a $190.00 price target (down from $230.00) on shares of Builders FirstSource in a research note on Thursday, August 8th. StockNews.com lowered shares of Builders FirstSource from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Truist Financial reduced their target price on shares of Builders FirstSource from $190.00 to $180.00 and set a “hold” rating on the stock in a report on Wednesday, May 8th. Barclays decreased their price target on shares of Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus cut their price target on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $180.47.

Insider Transactions at Builders FirstSource

In related news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following the completion of the sale, the director now owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following the transaction, the director now owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul M. Mccrobie sold 9,118 shares of Builders FirstSource stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $170.11, for a total value of $1,551,062.98. Following the transaction, the insider now owns 22,667 shares of the company’s stock, valued at approximately $3,855,883.37. The disclosure for this sale can be found here. Insiders have sold 43,993 shares of company stock valued at $6,937,807 over the last ninety days. 1.80% of the stock is owned by company insiders.

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.