Lord Abbett & CO. LLC Sells 263,493 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Lord Abbett & CO. LLC reduced its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 70.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,780 shares of the company’s stock after selling 263,493 shares during the period. Lord Abbett & CO. LLC’s holdings in Builders FirstSource were worth $21,088,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Cyndeo Wealth Partners LLC raised its stake in shares of Builders FirstSource by 3.7% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 1,571 shares of the company’s stock valued at $305,000 after acquiring an additional 56 shares in the last quarter. World Equity Group Inc. raised its position in shares of Builders FirstSource by 4.1% in the third quarter. World Equity Group Inc. now owns 1,632 shares of the company’s stock valued at $316,000 after purchasing an additional 64 shares during the period. HighTower Advisors LLC raised its position in shares of Builders FirstSource by 0.3% in the third quarter. HighTower Advisors LLC now owns 22,100 shares of the company’s stock valued at $4,296,000 after purchasing an additional 64 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Builders FirstSource by 0.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,240 shares of the company’s stock worth $1,417,000 after buying an additional 74 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Builders FirstSource by 42.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

Builders FirstSource Stock Performance

NYSE BLDR opened at $166.43 on Monday. Builders FirstSource, Inc. has a twelve month low of $130.75 and a twelve month high of $214.70. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 0.83. The stock has a market cap of $19.15 billion, a P/E ratio of 16.25, a PEG ratio of 0.96 and a beta of 2.06. The company’s 50-day simple moving average is $181.69 and its 200 day simple moving average is $169.13.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings data on Tuesday, November 5th. The company reported $3.07 earnings per share for the quarter, missing the consensus estimate of $3.09 by ($0.02). The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.44 billion. Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.24 earnings per share. As a group, research analysts forecast that Builders FirstSource, Inc. will post 11.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 33,083 shares of the company’s stock, valued at approximately $5,902,338.03. This represents a 23.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BLDR shares. UBS Group initiated coverage on shares of Builders FirstSource in a research report on Friday, October 25th. They set a “buy” rating and a $232.00 target price for the company. Wedbush reissued an “outperform” rating and set a $230.00 price objective on shares of Builders FirstSource in a research report on Wednesday, November 6th. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 target price on shares of Builders FirstSource in a report on Tuesday, October 29th. StockNews.com lowered Builders FirstSource from a “buy” rating to a “hold” rating in a report on Monday. Finally, Barclays increased their price objective on Builders FirstSource from $182.00 to $211.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $210.00.

Builders FirstSource 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.