BlueLinx Holdings Inc. (NYSE:BXC) Stock Position Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in shares of BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 28.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 167,178 shares of the construction company's stock after purchasing an additional 36,968 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.99% of BlueLinx worth $17,624,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. nVerses Capital LLC raised its position in BlueLinx by 200.0% in the 2nd quarter. nVerses Capital LLC now owns 300 shares of the construction company's stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of BlueLinx during the second quarter worth about $39,000. Meeder Asset Management Inc. acquired a new position in BlueLinx in the 2nd quarter valued at about $70,000. Quest Partners LLC raised its stake in 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 acquiring an additional 342 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in BlueLinx during the 3rd quarter worth approximately $200,000. Institutional investors and hedge funds own 90.83% of the company's stock.

BlueLinx Trading Up 0.5 %

Shares of BXC traded up $0.63 on Friday, hitting $127.27. 41,256 shares of the stock traded hands, compared to its average volume of 44,773. BlueLinx Holdings Inc. has a 1 year low of $87.67 and a 1 year high of $134.79. The firm has a market capitalization of $1.07 billion, a P/E ratio of 37.00 and a beta of 2.05. The stock's 50 day moving average is $115.30 and its two-hundred day moving average is $105.91. The company has a quick ratio of 3.26, a current ratio of 4.58 and a debt-to-equity ratio of 0.88.

Analyst Ratings Changes

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

BlueLinx Profile

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.