Builders FirstSource, Inc. (NYSE:BLDR) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. decreased its position in Builders FirstSource, Inc. (NYSE:BLDR) by 6.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,366 shares of the company’s stock after selling 468 shares during the period. Hartford Investment Management Co.’s holdings in Builders FirstSource were worth $1,428,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Innealta Capital LLC bought a new position in shares of Builders FirstSource in the second quarter valued at $27,000. Armstrong Advisory Group Inc. acquired a new stake in shares of Builders FirstSource during the third quarter worth $30,000. Westside Investment Management Inc. purchased a new stake in shares of Builders FirstSource during the first quarter valued at $31,000. ORG Partners LLC acquired a new position in shares of Builders FirstSource in the 1st quarter valued at $33,000. Finally, First Horizon Advisors Inc. increased its stake in Builders FirstSource by 42.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on BLDR shares. Baird R W upgraded shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. UBS Group started coverage on shares of Builders FirstSource in a research note on Friday. They issued a “buy” rating and a $232.00 price objective for the company. Benchmark cut their target price on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Robert W. Baird increased their target price on Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Bank of America lifted their price target on Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Four research 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $200.35.

Insiders Place Their Bets

In other news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $153.68, for a total value of $4,610,400.00. Following the sale, the director now directly owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

Builders FirstSource Stock Performance

BLDR opened at $180.85 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. The company has a market cap of $22.07 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 11.48 and a beta of 2.06. The stock has a 50-day moving average of $183.91 and a 200-day moving average of $169.13. Builders FirstSource, Inc. has a 52-week low of $105.24 and a 52-week high of $214.70.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.02 by $0.48. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.48 billion. During the same quarter last year, the company posted $3.89 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities research analysts forecast that Builders FirstSource, Inc. will post 11.68 earnings per share for the current fiscal year.

Builders FirstSource declared that its Board of Directors has initiated a share buyback program on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 5.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Builders FirstSource Company 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.