Builders FirstSource, Inc. (NYSE:BLDR) Shares Purchased by Huntington National Bank

Huntington National Bank boosted its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 68.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,282 shares of the company’s stock after acquiring an additional 521 shares during the quarter. Huntington National Bank’s holdings in Builders FirstSource were worth $249,000 at the end of the most recent reporting period.

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

Builders FirstSource Price Performance

NYSE:BLDR opened at $176.28 on Friday. The firm has a market cap of $20.29 billion, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 1.00 and a beta of 2.08. The stock has a 50 day moving average of $185.83 and a two-hundred day moving average of $168.18. Builders FirstSource, Inc. has a 12 month low of $129.80 and a 12 month high of $214.70. 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 posted its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.44 billion. Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The business’s revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.24 earnings per share. On average, analysts expect that Builders FirstSource, Inc. will post 11.56 earnings per share for the current fiscal year.

Builders FirstSource declared that its board has authorized a stock repurchase plan on Tuesday, August 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms recently issued reports on BLDR. Robert W. Baird boosted their target price on shares of Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. DA Davidson upped their target price on Builders FirstSource from $169.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Benchmark reduced their price target on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. UBS Group started coverage on Builders FirstSource in a research report on Friday, October 25th. They issued a “buy” rating and a $232.00 price objective on the stock. Finally, Truist Financial raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and lifted their target price for the company from $165.00 to $220.00 in a report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Builders FirstSource presently has an average rating of “Moderate Buy” and a consensus target price of $206.47.

Insider Activity

In other 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 transaction, the director now owns 33,083 shares of the company’s stock, valued at approximately $5,902,338.03. The trade was a 23.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.80% of the company’s stock.

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.