Scotia Capital Inc. Reduces Stock Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Key Points

• Scotia Capital Inc. has reduced its holdings in Builders FirstSource, Inc. by 12.1%, now owning 21,660 shares valued at approximately $2.706 million.
• Directors of Builders FirstSource purchased significant amounts of shares recently, with Paul S. Levy acquiring 283,517 shares for over $31.5 million, indicating strong insider confidence.
• Builders FirstSource's stock has shown resilience, with a 3.9% increase recently, and analysts giving it a "Moderate Buy" rating amid price target fluctuations.

Scotia Capital Inc. trimmed its position in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 12.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 21,660 shares of the company's stock after selling 2,971 shares during the period. Scotia Capital Inc.'s holdings in Builders FirstSource were worth $2,706,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of BLDR. Voya Investment Management LLC lifted its holdings in Builders FirstSource by 174.2% during the 4th quarter. Voya Investment Management LLC now owns 1,416,280 shares of the company's stock worth $202,374,000 after buying an additional 899,841 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in Builders FirstSource by 16.8% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,270,362 shares of the company's stock worth $283,659,000 after buying an additional 326,923 shares during the period. Coliseum Capital Management LLC acquired a new position in Builders FirstSource during the 4th quarter worth about $45,334,000. GAMMA Investing LLC lifted its holdings in Builders FirstSource by 20,946.5% during the 1st quarter. GAMMA Investing LLC now owns 243,508 shares of the company's stock worth $30,424,000 after buying an additional 242,351 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Builders FirstSource during the 4th quarter worth about $34,540,000. 95.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Builders FirstSource

In other Builders FirstSource news, Director Dirkson R. Charles bought 5,000 shares of the business's stock in a transaction dated 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 purchase, the director directly owned 5,000 shares of the company's stock, valued at approximately $548,350. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on BLDR shares. Wedbush cut their target price on Builders FirstSource from $190.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, June 20th. Barclays cut their target price on Builders FirstSource from $137.00 to $135.00 and set an "overweight" rating on the stock in a research report on Friday, August 1st. Robert W. Baird lowered Builders FirstSource from an "outperform" rating to a "neutral" rating and cut their target price for the company from $145.00 to $130.00 in a research report on Friday, August 1st. Stifel Nicolaus upped their target price on Builders FirstSource from $118.00 to $128.00 and gave the company a "hold" rating in a research report on Friday, August 1st. Finally, Zelman & Associates restated an "underperform" rating on shares of Builders FirstSource in a research report on Friday, July 18th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $154.44.

Builders FirstSource Stock Up 0.8%

BLDR stock traded up $1.07 during mid-day trading on Friday, reaching $132.33. 1,356,698 shares of the company traded hands, compared to its average volume of 2,146,386. The stock has a market cap of $14.63 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 14.00 and a beta of 1.68. The company has a quick ratio of 1.08, a current ratio of 1.79 and a debt-to-equity ratio of 1.12. Builders FirstSource, Inc. has a fifty-two week low of $102.60 and a fifty-two week high of $203.14. The firm's 50 day moving average price is $122.76 and its 200 day moving average price is $127.73.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.35 by $0.03. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.29 billion. Builders FirstSource had a return on equity of 24.61% and a net margin of 4.74%. The company's quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.50 EPS. As a group, equities research analysts predict 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 repurchase program on Thursday, May 1st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership 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.