HighTower Advisors LLC Purchases Shares of 10,328 BlueLinx Holdings Inc. (NYSE:BXC)

HighTower Advisors LLC purchased a new stake in shares of BlueLinx Holdings Inc. (NYSE:BXC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,328 shares of the construction company's stock, valued at approximately $1,055,000. HighTower Advisors LLC owned 0.12% of BlueLinx at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vestcor Inc increased its stake in shares of BlueLinx by 1,797.6% during the 3rd quarter. Vestcor Inc now owns 12,714 shares of the construction company's stock worth $1,340,000 after purchasing an additional 12,044 shares during the last quarter. JPMorgan Chase & Co. increased its position in BlueLinx by 5.0% during the third quarter. JPMorgan Chase & Co. now owns 92,144 shares of the construction company's stock worth $9,714,000 after buying an additional 4,363 shares during the last quarter. State Street Corp raised its holdings in BlueLinx by 0.6% during the third quarter. State Street Corp now owns 198,003 shares of the construction company's stock valued at $20,873,000 after buying an additional 1,252 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of BlueLinx by 28.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 167,178 shares of the construction company's stock worth $17,624,000 after buying an additional 36,968 shares during the last quarter. Finally, PNC Financial Services Group Inc. bought a new stake in shares of BlueLinx during the 4th quarter worth about $61,000. Institutional investors and hedge funds own 90.83% of the company's stock.

Remove Ads

BlueLinx Stock Performance

BXC stock traded down $3.75 on Friday, reaching $76.69. 69,092 shares of the company were exchanged, compared to its average volume of 77,669. The firm has a market capitalization of $636.14 million, a PE ratio of 12.49 and a beta of 2.18. BlueLinx Holdings Inc. has a 12 month low of $73.01 and a 12 month high of $134.79. The stock's fifty day moving average price is $91.72 and its 200 day moving average price is $104.52. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.85 and a quick ratio of 3.26.

BlueLinx (NYSE:BXC - Get Free Report) last posted its quarterly earnings data 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). BlueLinx had a return on equity of 7.50% and a net margin of 1.80%. The company had revenue of $710.64 million for the quarter, compared to the consensus estimate of $700.66 million.

Analyst Ratings Changes

BXC has been the topic of a number of recent analyst reports. StockNews.com downgraded BlueLinx from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Benchmark reduced their price objective on shares of BlueLinx from $135.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, February 21st. DA Davidson lowered their target price on shares of BlueLinx from $137.00 to $119.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Finally, Loop Capital cut 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 equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $123.50.

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.