KLP Kapitalforvaltning AS Makes New Investment in BlueLinx Holdings Inc. (NYSE:BXC)

KLP Kapitalforvaltning AS purchased a new stake in shares of BlueLinx Holdings Inc. (NYSE:BXC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,400 shares of the construction company's stock, valued at approximately $756,000. KLP Kapitalforvaltning AS owned 0.09% of BlueLinx as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. boosted its stake in BlueLinx by 8.4% in the 4th quarter. American Century Companies Inc. now owns 311,567 shares of the construction company's stock worth $31,830,000 after purchasing an additional 24,087 shares during the period. Teacher Retirement System of Texas boosted its position in shares of BlueLinx by 98.1% during the fourth quarter. Teacher Retirement System of Texas now owns 21,922 shares of the construction company's stock worth $2,240,000 after acquiring an additional 10,854 shares during the last quarter. Intech Investment Management LLC grew its stake in BlueLinx by 48.1% during the fourth quarter. Intech Investment Management LLC now owns 2,813 shares of the construction company's stock valued at $287,000 after acquiring an additional 914 shares in the last quarter. HighTower Advisors LLC bought a new stake in BlueLinx in the 4th quarter valued at $1,055,000. Finally, River Road Asset Management LLC purchased a new stake in BlueLinx in the 4th quarter worth $7,541,000. Institutional investors own 90.83% of the company's stock.

Wall Street Analyst Weigh In

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

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BlueLinx Trading Up 1.0 %

NYSE:BXC traded up $0.70 during midday trading on Friday, hitting $72.74. 168,041 shares of the company traded hands, compared to its average volume of 78,912. The firm has a market capitalization of $603.35 million, a P/E ratio of 11.85 and a beta of 1.82. The firm's fifty day moving average is $88.33 and its 200-day moving average is $103.54. BlueLinx Holdings Inc. has a 12-month low of $67.42 and a 12-month high of $134.79. The company has a current ratio of 4.85, a quick ratio of 3.26 and a debt-to-equity ratio of 0.89.

BlueLinx (NYSE:BXC - Get Free Report) last announced its 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 net margin of 1.80% and a return on equity of 7.50%. The firm had revenue of $710.64 million during the quarter, compared to analysts' expectations of $700.66 million.

BlueLinx Company 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.