Charles Schwab Investment Management Inc. boosted its holdings in BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 19.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 199,871 shares of the construction company's stock after buying an additional 32,693 shares during the quarter. Charles Schwab Investment Management Inc. owned 2.39% of BlueLinx worth $20,419,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Public Employees Retirement System of Ohio increased its position in shares of BlueLinx by 59.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 377 shares of the construction company's stock valued at $40,000 after purchasing an additional 140 shares during the last quarter. Quest Partners LLC increased its position in shares of BlueLinx by 43.2% during the 3rd quarter. Quest Partners LLC now owns 1,133 shares of the construction company's stock valued at $119,000 after purchasing an additional 342 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of BlueLinx by 50.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,135 shares of the construction company's stock valued at $120,000 after purchasing an additional 379 shares during the last quarter. FMR LLC increased its position in shares of BlueLinx by 10.5% during the 3rd quarter. FMR LLC now owns 1,545 shares of the construction company's stock valued at $163,000 after purchasing an additional 147 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of BlueLinx during the 3rd quarter valued at about $200,000. Hedge funds and other institutional investors own 90.83% of the company's stock.
BlueLinx Price Performance
BXC stock traded down $1.68 during midday trading on Friday, hitting $80.74. The company's stock had a trading volume of 269,079 shares, compared to its average volume of 74,916. BlueLinx Holdings Inc. has a 12 month low of $73.01 and a 12 month high of $134.79. The company has a quick ratio of 3.26, a current ratio of 4.85 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $669.71 million, a price-to-earnings ratio of 13.15 and a beta of 2.18. The company has a 50 day moving average of $94.24 and a two-hundred day moving average of $104.91.
BlueLinx (NYSE:BXC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). BlueLinx had a return on equity of 7.50% and a net margin of 1.80%. The business had revenue of $710.64 million during the quarter, compared to the consensus estimate of $700.66 million.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the company. Benchmark cut their price objective on BlueLinx from $135.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, February 21st. StockNews.com downgraded BlueLinx from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. DA Davidson cut their price objective on BlueLinx from $137.00 to $119.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Finally, Loop Capital cut their price objective on BlueLinx from $135.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $123.50.
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About BlueLinx
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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.
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