Artemis Investment Management LLP Lowers Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Artemis Investment Management LLP trimmed its position in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 59.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 231,184 shares of the company's stock after selling 340,497 shares during the period. Artemis Investment Management LLP owned 0.20% of Builders FirstSource worth $28,884,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Builders FirstSource

In other Builders FirstSource news, Director Paul S. Levy purchased 283,517 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was purchased at an average price of $111.21 per share, for a total transaction of $31,529,925.57. Following the completion of the purchase, the director now directly owns 1,672,687 shares of the company's stock, valued at $186,019,521.27. This trade represents a 20.41% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dirkson R. Charles acquired 5,000 shares of Builders FirstSource stock in a transaction that occurred on Tuesday, May 27th. The stock was acquired at an average price of $109.67 per share, with a total value of $548,350.00. Following the completion of the acquisition, the director now directly owns 5,000 shares in the company, valued at $548,350. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 505,000 shares of company stock worth $56,032,120. 2.00% of the stock is owned by corporate insiders.

Builders FirstSource Trading Down 0.0%

Shares of NYSE BLDR opened at $115.95 on Friday. The stock has a market cap of $12.81 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 7.38 and a beta of 1.69. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.82 and a quick ratio of 1.07. Builders FirstSource, Inc. has a 1 year low of $102.60 and a 1 year high of $203.14. The firm has a 50-day moving average of $113.69 and a 200 day moving average of $133.11.

Builders FirstSource (NYSE:BLDR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.01. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.67 billion. Builders FirstSource had a return on equity of 28.02% and a net margin of 5.66%. The firm's quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.65 EPS. As a group, sell-side analysts expect that Builders FirstSource, Inc. will post 11.59 EPS for the current fiscal year.

Builders FirstSource declared that its Board of Directors has authorized a share buyback plan on Thursday, May 1st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BLDR. Wedbush reduced their price objective on Builders FirstSource from $190.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday, June 20th. BMO Capital Markets reduced their price target on shares of Builders FirstSource from $146.00 to $135.00 and set a "market perform" rating on the stock in a research report on Monday, May 5th. Raymond James Financial restated an "outperform" rating and issued a $140.00 price objective (down from $170.00) on shares of Builders FirstSource in a report on Friday, May 2nd. Robert W. Baird set a $130.00 target price on shares of Builders FirstSource in a research report on Friday, May 2nd. Finally, UBS Group lowered their target price on Builders FirstSource from $180.00 to $163.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.11.

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.

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