California State Teachers Retirement System Cuts Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

California State Teachers Retirement System cut its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 183,043 shares of the company's stock after selling 18,990 shares during the period. California State Teachers Retirement System owned approximately 0.16% of Builders FirstSource worth $26,162,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Builders FirstSource by 3.4% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,943 shares of the company's stock valued at $278,000 after purchasing an additional 64 shares during the period. TFB Advisors LLC increased its position in Builders FirstSource by 2.1% during the fourth quarter. TFB Advisors LLC now owns 3,819 shares of the company's stock worth $546,000 after buying an additional 79 shares during the last quarter. HighPoint Advisor Group LLC increased its position in Builders FirstSource by 5.2% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,677 shares of the company's stock worth $262,000 after buying an additional 83 shares during the last quarter. Aptus Capital Advisors LLC increased its position in Builders FirstSource by 6.0% during the fourth quarter. Aptus Capital Advisors LLC now owns 1,494 shares of the company's stock worth $214,000 after buying an additional 85 shares during the last quarter. Finally, Baird Financial Group Inc. increased its position in Builders FirstSource by 2.3% during the fourth quarter. Baird Financial Group Inc. now owns 4,391 shares of the company's stock worth $628,000 after buying an additional 98 shares during the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BLDR. Benchmark reduced their price objective on Builders FirstSource from $200.00 to $170.00 and set a "buy" rating for the company in a report on Friday, February 21st. Loop Capital cut their target price on Builders FirstSource from $190.00 to $170.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Truist Financial lowered their price target on shares of Builders FirstSource from $220.00 to $180.00 and set a "buy" rating for the company in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft assumed coverage on Builders FirstSource in a report on Tuesday, April 1st. They issued a "buy" rating and a $151.00 price target on the stock. Finally, Barclays reduced their price target on shares of Builders FirstSource from $151.00 to $137.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Six investment 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $167.58.

Builders FirstSource Trading Up 2.6%

Shares of NYSE:BLDR traded up $2.76 during trading on Tuesday, reaching $108.39. 873,964 shares of the company traded hands, compared to its average volume of 1,674,268. The firm has a market capitalization of $11.98 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 0.80 and a beta of 1.79. Builders FirstSource, Inc. has a 52-week low of $102.60 and a 52-week high of $203.14. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.86. The business's fifty day moving average is $116.60 and its 200-day moving average is $140.95.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.01. Builders FirstSource had a return on equity of 30.54% and a net margin of 6.57%. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same quarter last year, the firm posted $2.65 earnings per share. The firm's revenue was down 6.0% on a year-over-year basis. As a group, analysts forecast that Builders FirstSource, Inc. will post 11.59 EPS for the current year.

Builders FirstSource announced that its board has authorized a stock repurchase program on Thursday, May 1st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

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.