Builders FirstSource, Inc. (NYSE:BLDR) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC trimmed its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 70.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,780 shares of the company’s stock after selling 263,493 shares during the period. Lord Abbett & CO. LLC owned approximately 0.09% of Builders FirstSource worth $21,088,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. raised its position in shares of Builders FirstSource by 18.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 3,270 shares of the company’s stock valued at $639,000 after purchasing an additional 500 shares in the last quarter. Oddo BHF Asset Management Sas bought a new stake in shares of Builders FirstSource in the 3rd quarter worth about $547,000. American Trust raised its stake in shares of Builders FirstSource by 5.0% in the 3rd quarter. American Trust now owns 3,626 shares of the company’s stock valued at $703,000 after purchasing an additional 174 shares in the last quarter. Tidal Investments LLC increased its holdings in Builders FirstSource by 129.4% in the third quarter. Tidal Investments LLC now owns 19,845 shares of the company’s stock valued at $3,847,000 after buying an additional 11,194 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Builders FirstSource during the third quarter valued at approximately $827,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on BLDR. UBS Group started coverage on shares of Builders FirstSource in a report on Friday, October 25th. They issued a “buy” rating and a $232.00 price target for the company. DA Davidson raised their price target on Builders FirstSource from $169.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. The Goldman Sachs Group initiated coverage on shares of Builders FirstSource in a report on Thursday, October 10th. They set a “buy” rating and a $225.00 price target for the company. Truist Financial raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and increased their price objective for the stock from $165.00 to $220.00 in a report on Monday, September 16th. Finally, Stephens lifted their price target on Builders FirstSource from $178.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.00.

Builders FirstSource Stock Performance

Shares of BLDR stock opened at $166.43 on Monday. The stock’s fifty day simple moving average is $181.69 and its 200-day simple moving average is $169.13. The company has a market capitalization of $19.15 billion, a price-to-earnings ratio of 16.25, a P/E/G ratio of 0.96 and a beta of 2.06. 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, Inc. has a 1-year low of $130.75 and a 1-year high of $214.70.

Builders FirstSource (NYSE:BLDR) last issued its 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 during the quarter, compared to analyst estimates of $4.44 billion. Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. Builders FirstSource’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.24 EPS. On average, sell-side analysts predict that Builders FirstSource, Inc. will post 11.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Builders FirstSource

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 stock was sold at an average price of $178.41, for a total value of $1,784,100.00. Following the transaction, the director now owns 33,083 shares in the company, valued at $5,902,338.03. The trade was a 23.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.80% of the company’s stock.

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.