Bank of New York Mellon Corp Decreases Stock Holdings in BlueLinx Holdings Inc. (NYSE:BXC)

Bank of New York Mellon Corp decreased its holdings in BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 11.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,270 shares of the construction company's stock after selling 4,572 shares during the period. Bank of New York Mellon Corp owned 0.42% of BlueLinx worth $3,603,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Public Employees Retirement System of Ohio boosted its position in shares of BlueLinx by 59.1% in 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 period. Quest Partners LLC boosted its position in shares of BlueLinx by 43.2% in the third quarter. Quest Partners LLC now owns 1,133 shares of the construction company's stock valued at $119,000 after acquiring an additional 342 shares during the period. Meeder Asset Management Inc. boosted its position in shares of BlueLinx by 50.1% in the third quarter. Meeder Asset Management Inc. now owns 1,135 shares of the construction company's stock valued at $120,000 after acquiring an additional 379 shares during the period. FMR LLC boosted its position in shares of BlueLinx by 10.5% in 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 period. Finally, Intech Investment Management LLC bought a new position in shares of BlueLinx in the third quarter valued at approximately $200,000. Hedge funds and other institutional investors own 90.83% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of BlueLinx from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. DA Davidson cut their price objective on shares of BlueLinx from $137.00 to $119.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Benchmark cut their price objective on shares of BlueLinx from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Finally, Loop Capital dropped their target price on shares of BlueLinx from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, BlueLinx has a consensus rating of "Moderate Buy" and an average target price of $123.50.

BlueLinx Price Performance

BlueLinx stock traded down $1.68 during mid-day trading on Friday, hitting $80.74. 269,079 shares of the company traded hands, compared to its average volume of 74,916. BlueLinx Holdings Inc. has a one year low of $73.01 and a one year high of $134.79. The stock has a market cap of $669.71 million, a price-to-earnings ratio of 13.15 and a beta of 2.18. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.26 and a current ratio of 4.85. The stock has a fifty day moving average price of $94.24 and a 200-day moving average price of $104.91.

BlueLinx (NYSE:BXC - Get Free Report) last announced its earnings results on Tuesday, February 18th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $710.64 million for the quarter, compared to the consensus estimate of $700.66 million. BlueLinx had a net margin of 1.80% and a return on equity of 7.50%.

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.