Salem Investment Counselors Inc. Has $366,000 Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Salem Investment Counselors Inc. lowered its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 10.7% during the first quarter, Holdings Channel.com reports. 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Builders FirstSource in the fourth quarter valued at about $34,000. Sentry Investment Management LLC bought a new position in Builders FirstSource during the first quarter worth about $40,000. CX Institutional bought a new position in Builders FirstSource during the first quarter worth about $45,000. Smartleaf Asset Management LLC grew its holdings in Builders FirstSource by 34.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 518 shares of the company’s stock worth $74,000 after purchasing an additional 134 shares during the period. Finally, New Age Alpha Advisors LLC bought a new position in Builders FirstSource during the fourth quarter worth about $74,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Insider Activity at Builders FirstSource

In related news, Director Dirkson R. Charles purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was acquired at an average cost of $109.67 per share, for a total transaction of $548,350.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at approximately $548,350. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul S. Levy purchased 283,517 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was bought at an average price of $111.21 per share, with a total value of $31,529,925.57. Following the completion of the purchase, the director now owns 1,672,687 shares of the company’s stock, valued at $186,019,521.27. This trade represents a 20.41% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 505,000 shares of company stock worth $56,032,120. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on BLDR. BMO Capital Markets reduced their price target on Builders FirstSource from $146.00 to $135.00 and set a “market perform” rating for the company in a report on Monday, May 5th. 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. Stifel Nicolaus reduced their price target on Builders FirstSource from $125.00 to $118.00 and set a “hold” rating for the company in a report on Monday, May 5th. The Goldman Sachs Group reduced their price target on Builders FirstSource from $200.00 to $180.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, Loop Capital reduced their price target on Builders FirstSource from $190.00 to $170.00 and set a “buy” rating for the company in a report on Monday, April 14th. Six 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’s stock. Based on data from MarketBeat.com, Builders FirstSource presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.58.

Builders FirstSource Trading Down 3.4%

Shares of BLDR stock opened at $111.17 on Friday. 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 has a market cap of $12.29 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 0.80 and a beta of 1.70. The stock has a 50 day simple moving average of $114.76 and a 200 day simple moving average of $137.33. Builders FirstSource, Inc. has a 1 year low of $102.60 and a 1 year high of $203.14.

Builders FirstSource (NYSE:BLDR) last issued 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. The business had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Builders FirstSource had a return on equity of 30.54% and a net margin of 6.57%. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.65 earnings per share. On average, research analysts predict that Builders FirstSource, Inc. will post 11.59 earnings per share for the current fiscal year.

Builders FirstSource declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 1st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are 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.