Spire Wealth Management Sells 35,857 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Spire Wealth Management decreased its position in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 93.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,433 shares of the company's stock after selling 35,857 shares during the period. Spire Wealth Management's holdings in Builders FirstSource were worth $304,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BLDR. SBI Securities Co. Ltd. bought a new stake in Builders FirstSource during the 4th quarter worth approximately $34,000. Sentry Investment Management LLC bought a new stake in shares of Builders FirstSource during the first quarter worth $40,000. CX Institutional bought a new stake in shares of Builders FirstSource during the first quarter worth $45,000. Smartleaf Asset Management LLC raised its holdings in shares of Builders FirstSource by 34.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 518 shares of the company's stock worth $74,000 after acquiring an additional 134 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in Builders FirstSource in the 4th quarter valued at $74,000. Institutional investors own 95.53% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BLDR shares. Stephens lowered their target price on Builders FirstSource from $145.00 to $140.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Raymond James Financial reiterated an "outperform" rating and set a $140.00 price objective (down from $170.00) on shares of Builders FirstSource in a report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft started coverage on Builders FirstSource in a research note on Tuesday, April 1st. They issued a "buy" rating and a $151.00 target price on the stock. Wedbush decreased their price target on shares of Builders FirstSource from $190.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, June 20th. Finally, Barclays lowered their price objective on shares of Builders FirstSource from $151.00 to $137.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Builders FirstSource has a consensus rating of "Moderate Buy" and an average price target of $163.11.

Builders FirstSource Stock Performance

Shares of NYSE BLDR traded down $0.18 during mid-day trading on Monday, reaching $116.83. 1,630,046 shares of the company were exchanged, compared to its average volume of 1,687,952. The stock has a market capitalization of $12.91 billion, a P/E ratio of 14.98, a P/E/G ratio of 7.45 and a beta of 1.70. The company has a quick ratio of 1.07, a current ratio of 1.82 and a debt-to-equity ratio of 1.02. The company's 50-day simple moving average is $113.69 and its 200-day simple moving average is $132.20. Builders FirstSource, Inc. has a twelve month low of $102.60 and a twelve month high of $203.14.

Builders FirstSource (NYSE:BLDR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.51 earnings per share (EPS) for the quarter, topping 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 period last year, the business posted $2.65 earnings per share. The business's revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, research analysts predict that Builders FirstSource, Inc. will post 11.59 earnings per share for the current year.

Builders FirstSource declared that its board has approved a share buyback program on Thursday, May 1st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at Builders FirstSource

In other Builders FirstSource news, Director Dirkson R. Charles purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were acquired at an average cost of $109.67 per share, with a total value of $548,350.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at $548,350. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul S. Levy bought 283,517 shares of the stock in a transaction dated Thursday, May 8th. The shares were acquired at an average cost of $111.21 per share, for a total transaction of $31,529,925.57. Following the completion of the acquisition, the director directly owned 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 position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 505,000 shares of company stock valued at $56,032,120. 1.80% of the stock is currently owned by insiders.

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.