Salem Investment Counselors Inc. Sells 350 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Salem Investment Counselors Inc. cut its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 10.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,930 shares of the company’s stock after selling 350 shares during the period. Salem Investment Counselors Inc.’s holdings in Builders FirstSource were worth $366,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Norges Bank bought a new position in Builders FirstSource in the 4th quarter valued at $199,890,000. Voya Investment Management LLC boosted its position in Builders FirstSource by 174.2% in the 4th quarter. Voya Investment Management LLC now owns 1,416,280 shares of the company’s stock valued at $202,374,000 after buying an additional 899,841 shares during the last quarter. FMR LLC boosted its position in Builders FirstSource by 7.3% in the 4th quarter. FMR LLC now owns 10,898,366 shares of the company’s stock valued at $1,557,703,000 after buying an additional 740,214 shares during the last quarter. Proficio Capital Partners LLC boosted its position in Builders FirstSource by 15,533.9% in the 4th quarter. Proficio Capital Partners LLC now owns 649,903 shares of the company’s stock valued at $92,891,000 after buying an additional 645,746 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its position in Builders FirstSource by 47.2% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,943,439 shares of the company’s stock valued at $277,776,000 after buying an additional 623,583 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors.

Builders FirstSource Stock Performance

Shares of Builders FirstSource stock opened at $111.17 on Friday. The company has a market capitalization of $12.29 billion, a PE ratio of 12.27, a PEG ratio of 0.80 and a beta of 1.70. Builders FirstSource, Inc. has a 12 month low of $102.60 and a 12 month high of $203.14. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.86. The stock’s fifty day simple moving average is $114.76 and its 200 day simple moving average is $137.33.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.51 earnings per share (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 the consensus estimate of $3.67 billion. During the same quarter last year, the business posted $2.65 EPS. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. On average, research analysts predict that Builders FirstSource, Inc. will post 11.59 EPS for the current year.

Builders FirstSource announced that its board has initiated a share repurchase plan on Thursday, May 1st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

BLDR has been the topic of a number of recent research reports. Stifel Nicolaus decreased their price objective on Builders FirstSource from $125.00 to $118.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Truist Financial cut their price target on Builders FirstSource from $220.00 to $180.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Robert W. Baird set a $130.00 price target on Builders FirstSource in a research note on Friday, May 2nd. Barclays cut their price target on Builders FirstSource from $151.00 to $137.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Finally, UBS Group cut their price target on Builders FirstSource from $180.00 to $163.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Builders FirstSource presently has an average rating of “Moderate Buy” and a consensus price target of $167.58.

Insider Buying and Selling at Builders FirstSource

In related news, Director Dirkson R. Charles acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was bought at an average price of $109.67 per share, for a total transaction of $548,350.00. Following the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $548,350. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul S. Levy bought 283,517 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was bought at an average cost of $111.21 per share, for a total transaction of $31,529,925.57. Following the transaction, the director now owns 1,672,687 shares of the company’s stock, valued at $186,019,521.27. The trade was a 20.41% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 505,000 shares of company stock valued at $56,032,120 in the last 90 days. 2.00% of the stock is currently owned by company 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.