Pacer Advisors Inc. Reduces Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Pacer Advisors Inc. decreased its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 19.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,051,107 shares of the company’s stock after selling 481,853 shares during the quarter. Builders FirstSource makes up 0.8% of Pacer Advisors Inc.’s holdings, making the stock its 26th largest position. Pacer Advisors Inc.’s holdings in Builders FirstSource were worth $397,628,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Forsta AP Fonden raised its holdings 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 valued at $5,195,000 after acquiring an additional 2,900 shares during the last quarter. Cetera Investment Advisers increased its holdings 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 purchasing an additional 45,069 shares during the last quarter. Janus Henderson Group PLC increased its holdings 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 purchasing an additional 3,483 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Builders FirstSource by 18.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 115,995 shares of the company’s stock valued at $16,055,000 after purchasing an additional 18,223 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Builders FirstSource in the first quarter valued at approximately $3,448,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Builders FirstSource Stock Down 2.2 %

Builders FirstSource stock opened at $174.95 on Thursday. Builders FirstSource, Inc. has a 1-year low of $130.75 and a 1-year high of $214.70. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.77 and a quick ratio of 1.16. The stock has a market cap of $20.13 billion, a PE ratio of 17.08, a P/E/G ratio of 1.00 and a beta of 2.08. The stock’s fifty day moving average is $186.33 and its two-hundred day moving average is $167.92.

Builders FirstSource (NYSE:BLDR) last posted its quarterly 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). Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same quarter in the prior year, the business earned $4.24 earnings per share. The firm’s quarterly revenue was down 6.7% on a year-over-year basis. On average, sell-side analysts expect that Builders FirstSource, Inc. will post 11.56 EPS for the current fiscal year.

Builders FirstSource announced that its board has approved a share buyback program on Tuesday, August 6th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Builders FirstSource

In other news, Director Cleveland A. Christophe sold 10,000 shares of Builders FirstSource stock in a transaction dated 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 sale, the director now owns 33,083 shares in the company, valued at approximately $5,902,338.03. The trade was a 23.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BLDR shares. Truist Financial upgraded Builders FirstSource from a “hold” rating to a “buy” rating and increased their price objective for the stock from $165.00 to $220.00 in a research report on Monday, September 16th. Wedbush reiterated an “outperform” rating and issued a $230.00 price objective on shares of Builders FirstSource in a research report on Wednesday, November 6th. Royal Bank of Canada increased their price objective on Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Barclays raised their price target on Builders FirstSource from $182.00 to $211.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, DA Davidson raised their price target on Builders FirstSource from $169.00 to $175.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Five investment 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 an average rating of “Moderate Buy” and a consensus target price of $206.47.

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.