ABS Direct Equity Fund LLC Decreases Stake in BlueLinx Holdings Inc. (NYSE:BXC)

ABS Direct Equity Fund LLC trimmed its stake in BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 53.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,226 shares of the construction company's stock after selling 10,774 shares during the period. ABS Direct Equity Fund LLC owned about 0.11% of BlueLinx worth $973,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its holdings in BlueLinx by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 4,380 shares of the construction company's stock valued at $408,000 after purchasing an additional 129 shares during the period. Public Employees Retirement System of Ohio boosted its position in BlueLinx by 59.1% during the third quarter. Public Employees Retirement System of Ohio now owns 377 shares of the construction company's stock valued at $40,000 after acquiring an additional 140 shares during the last quarter. FMR LLC boosted its position in BlueLinx by 10.5% during the third quarter. FMR LLC now owns 1,545 shares of the construction company's stock valued at $163,000 after acquiring an additional 147 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in BlueLinx by 2.0% during the second quarter. SummerHaven Investment Management LLC now owns 7,853 shares of the construction company's stock valued at $731,000 after acquiring an additional 151 shares during the last quarter. Finally, nVerses Capital LLC boosted its position in BlueLinx by 200.0% during the second quarter. nVerses Capital LLC now owns 300 shares of the construction company's stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. 90.83% of the stock is currently owned by institutional investors and hedge funds.

BlueLinx Stock Down 3.3 %

Shares of BXC stock traded down $4.26 on Tuesday, reaching $124.03. 82,805 shares of the company were exchanged, compared to its average volume of 78,581. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 36.06 and a beta of 2.05. The company has a 50-day moving average of $115.76 and a 200-day moving average of $106.10. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.58 and a quick ratio of 3.26. BlueLinx Holdings Inc. has a one year low of $87.67 and a one year high of $134.79.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of BlueLinx from a "hold" rating to a "buy" rating in a research report on Saturday, October 12th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, BlueLinx has an average rating of "Buy" and an average target price of $135.67.

About BlueLinx

BlueLinx Holdings Inc, together with its subsidiaries, engages in the distribution of residential and commercial building products in the United States. It distributes specialty products, including engineered wood, siding, millwork, outdoor living, specialty lumber and panels, and industrial products; and structural products, such as lumber, plywood, oriented strand boards, rebars and remesh, as well as other wood products that are used for structural support in construction projects.