New York State Teachers Retirement System Cuts Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

New York State Teachers Retirement System lessened its position in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 13.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 115,886 shares of the company's stock after selling 17,980 shares during the quarter. New York State Teachers Retirement System owned approximately 0.10% of Builders FirstSource worth $14,479,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Builders FirstSource during the fourth quarter worth about $199,890,000. Voya Investment Management LLC grew its holdings in shares of Builders FirstSource by 174.2% in the fourth quarter. Voya Investment Management LLC now owns 1,416,280 shares of the company's stock valued at $202,374,000 after purchasing an additional 899,841 shares in the last quarter. FMR LLC increased its stake in Builders FirstSource by 7.3% during the 4th quarter. FMR LLC now owns 10,898,366 shares of the company's stock worth $1,557,703,000 after buying an additional 740,214 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in Builders FirstSource by 47.2% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,943,439 shares of the company's stock worth $277,776,000 after buying an additional 623,583 shares in the last quarter. Finally, Coliseum Capital Management LLC purchased a new position in Builders FirstSource in the 4th quarter valued at approximately $45,334,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Insider Activity

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

Builders FirstSource Stock Performance

NYSE BLDR traded down $1.49 on Thursday, reaching $126.41. The stock had a trading volume of 1,732,163 shares, compared to its average volume of 1,709,252. The stock has a market cap of $13.97 billion, a P/E ratio of 16.21, a price-to-earnings-growth ratio of 8.08 and a beta of 1.69. Builders FirstSource, Inc. has a 12-month low of $102.60 and a 12-month high of $203.14. The business's 50-day moving average price is $114.17 and its 200 day moving average price is $131.79. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.07 and a current ratio of 1.82.

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

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BLDR. BMO Capital Markets reduced their price objective on Builders FirstSource from $146.00 to $135.00 and set a "market perform" rating on the stock in a research note on Monday, May 5th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $132.00 price objective on shares of Builders FirstSource in a research note on Thursday, May 15th. Stephens lowered their price objective on Builders FirstSource from $145.00 to $140.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Builders FirstSource in a report on Tuesday, April 1st. They issued a "buy" rating and a $151.00 target price on the stock. Finally, Wedbush lowered their price target on shares of Builders FirstSource from $190.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, June 20th. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Builders FirstSource currently has a consensus rating of "Moderate Buy" and an average target price of $163.11.

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.