KBC Group NV Decreases Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

KBC Group NV lessened its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 57.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 71,483 shares of the company’s stock after selling 98,372 shares during the period. KBC Group NV’s holdings in Builders FirstSource were worth $13,858,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BLDR. Armstrong Advisory Group Inc. purchased a new stake in shares of Builders FirstSource in the 3rd quarter valued at about $30,000. Innealta Capital LLC acquired a new position in Builders FirstSource in the 2nd quarter valued at $27,000. Reston Wealth Management LLC purchased a new position in Builders FirstSource during the third quarter worth about $39,000. First Horizon Advisors Inc. boosted its stake in shares of Builders FirstSource by 42.1% in the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after buying an additional 75 shares in the last quarter. Finally, Friedenthal Financial purchased a new position in shares of Builders FirstSource in the 3rd quarter valued at about $50,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Insider Activity

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the sale, the director now directly owns 33,083 shares in the company, valued at approximately $5,902,338.03. The trade was a 23.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BLDR. Bank of America lifted their price target on Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Baird R W upgraded Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Jefferies Financial Group increased their price target on shares of Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Loop Capital raised their price objective on Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Finally, Stephens lifted their target price on shares of Builders FirstSource from $178.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Builders FirstSource has a consensus rating of “Moderate Buy” and a consensus target price of $206.47.

Builders FirstSource Price Performance

Shares of BLDR opened at $176.28 on Friday. The firm has a market cap of $20.29 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.00 and a beta of 2.08. Builders FirstSource, Inc. has a 52 week low of $129.80 and a 52 week high of $214.70. The stock has a 50 day moving average of $185.83 and a 200-day moving average of $168.18. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings data on Tuesday, November 5th. The company reported $3.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same quarter in the prior year, the firm earned $4.24 EPS. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, analysts forecast that Builders FirstSource, Inc. will post 11.56 EPS for the current year.

Builders FirstSource announced that its Board of Directors has authorized a stock buyback plan on Tuesday, August 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership 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.