Builders FirstSource, Inc. (NYSE:BLDR) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC cut its position in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 257,400 shares of the company's stock after selling 8,340 shares during the quarter. Fred Alger Management LLC owned approximately 0.22% of Builders FirstSource worth $36,790,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BLDR. Meiji Yasuda Asset Management Co Ltd. raised its position in Builders FirstSource by 3.4% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,943 shares of the company's stock worth $278,000 after buying an additional 64 shares during the last quarter. Integrated Investment Consultants LLC lifted its holdings in shares of Builders FirstSource by 0.4% in the 4th quarter. Integrated Investment Consultants LLC now owns 15,008 shares of the company's stock valued at $2,145,000 after buying an additional 65 shares during the period. TFB Advisors LLC increased its stake in Builders FirstSource by 2.1% in the 4th quarter. TFB Advisors LLC now owns 3,819 shares of the company's stock valued at $546,000 after purchasing an additional 79 shares in the last quarter. HighPoint Advisor Group LLC grew its position in shares of Builders FirstSource by 5.2% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,677 shares of the company's stock valued at $262,000 after purchasing an additional 83 shares during the last quarter. Finally, 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 in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Builders FirstSource Stock Performance

Shares of Builders FirstSource stock traded up $6.66 on Tuesday, reaching $124.65. 3,056,613 shares of the company were exchanged, compared to its average volume of 1,678,000. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.16 and a current ratio of 1.77. The company's 50-day moving average is $121.71 and its two-hundred day moving average is $147.74. The firm has a market cap of $13.78 billion, a price-to-earnings ratio of 13.76, a P/E/G ratio of 0.80 and a beta of 1.79. Builders FirstSource, Inc. has a 1-year low of $103.81 and a 1-year high of $203.14.

Builders FirstSource (NYSE:BLDR - Get Free Report) last posted its 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 return on equity of 30.54% and a net margin of 6.57%. The firm had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.67 billion. During the same period last year, the firm earned $2.65 EPS. The firm's revenue was down 6.0% compared to the same quarter last year. As a group, research analysts expect that Builders FirstSource, Inc. will post 11.59 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on BLDR. Deutsche Bank Aktiengesellschaft began coverage on Builders FirstSource in a research report on Tuesday, April 1st. They issued a "buy" rating and a $151.00 price objective for the company. Robert W. Baird set a $130.00 price target on Builders FirstSource in a research report on Friday, May 2nd. Truist Financial decreased their target price on Builders FirstSource from $220.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, February 21st. UBS Group lowered their price objective on shares of Builders FirstSource from $180.00 to $163.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Benchmark reduced their price target on Builders FirstSource from $200.00 to $170.00 and set a "buy" rating for the company in a report on Friday, February 21st. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Builders FirstSource currently has an average rating of "Moderate Buy" and an average price target of $167.58.

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.