Pitcairn Co. Has $1.90 Million Position in Builders FirstSource, Inc. (NYSE:BLDR)

Pitcairn Co. reduced its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 29.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,813 shares of the company’s stock after selling 4,066 shares during the period. Pitcairn Co.’s holdings in Builders FirstSource were worth $1,902,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Cerity Partners LLC boosted its position in shares of Builders FirstSource by 77.3% during the third quarter. Cerity Partners LLC now owns 235,597 shares of the company’s stock worth $45,673,000 after buying an additional 102,729 shares during the period. Camden National Bank bought a new stake in Builders FirstSource during the third quarter worth about $242,000. Icon Wealth Advisors LLC bought a new stake in Builders FirstSource during the third quarter worth about $9,848,000. Citigroup Inc. raised its stake in Builders FirstSource by 2.0% in the third quarter. Citigroup Inc. now owns 157,199 shares of the company’s stock valued at $30,475,000 after buying an additional 3,022 shares during the period. Finally, Raymond James Trust N.A. bought a new stake in Builders FirstSource in the third quarter valued at approximately $460,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BLDR shares. B. Riley dropped their price objective on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada upped their price objective on Builders FirstSource from $178.00 to $187.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. DA Davidson upped their price objective on Builders FirstSource from $169.00 to $175.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group began coverage on Builders FirstSource in a research note on Thursday, October 10th. They set a “buy” rating and a $225.00 target price on the stock. Finally, UBS Group began coverage on Builders FirstSource in a research note on Friday, October 25th. They set a “buy” rating and a $232.00 target price on the stock. Five 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $206.47.

Builders FirstSource Stock Up 1.5 %

Shares of BLDR opened at $178.52 on Friday. Builders FirstSource, Inc. has a 52 week low of $130.75 and a 52 week high of $214.70. The stock has a market capitalization of $20.54 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 0.98 and a beta of 2.08. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.77. The stock has a fifty day moving average of $186.23 and a 200-day moving average of $167.82.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter in the previous year, the company posted $4.24 earnings per share. The firm’s revenue was down 6.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Builders FirstSource, Inc. will post 11.56 earnings per share for the current fiscal year.

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

Insider Activity

In related news, Director Cleveland A. Christophe sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was 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 directly owns 33,083 shares of the company’s stock, valued at $5,902,338.03. This trade represents a 23.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is owned by corporate insiders.

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.