Renaissance Technologies LLC Acquires 6,800 Shares of BlueLinx Holdings Inc. (NYSE:BXC)

Renaissance Technologies LLC grew its stake in shares of BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 10.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,100 shares of the construction company's stock after acquiring an additional 6,800 shares during the quarter. Renaissance Technologies LLC owned about 0.87% of BlueLinx worth $6,991,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BXC. Dimensional Fund Advisors LP lifted its position in BlueLinx by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 584,752 shares of the construction company's stock valued at $54,433,000 after acquiring an additional 16,753 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of BlueLinx by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 501,333 shares of the construction company's stock worth $65,294,000 after purchasing an additional 5,277 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of BlueLinx by 12.4% during the second quarter. American Century Companies Inc. now owns 268,059 shares of the construction company's stock valued at $24,954,000 after purchasing an additional 29,582 shares in the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of BlueLinx by 2.1% during the first quarter. Bridgeway Capital Management LLC now owns 145,687 shares of the construction company's stock valued at $18,974,000 after purchasing an additional 2,975 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of BlueLinx by 4.3% during the fourth quarter. Wellington Management Group LLP now owns 140,142 shares of the construction company's stock valued at $15,879,000 after buying an additional 5,842 shares during the last quarter. Hedge funds and other institutional investors own 90.83% of the company's stock.

BlueLinx Stock Performance

BXC stock traded up $2.92 during midday trading on Thursday, reaching $105.96. 70,194 shares of the company's stock traded hands, compared to its average volume of 84,553. The company has a current ratio of 4.88, a quick ratio of 3.37 and a debt-to-equity ratio of 0.88. BlueLinx Holdings Inc. has a 52-week low of $67.76 and a 52-week high of $132.67. The stock has a market cap of $903.84 million, a P/E ratio of 20.11 and a beta of 1.95. The stock's 50-day moving average is $103.39 and its 200 day moving average is $105.99.

BlueLinx (NYSE:BXC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.53 EPS for the quarter. The firm had revenue of $768.36 million during the quarter. BlueLinx had a return on equity of 12.14% and a net margin of 1.26%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BXC shares. Craig Hallum boosted their target price on BlueLinx from $125.00 to $135.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. StockNews.com upgraded shares of BlueLinx from a "hold" rating to a "buy" rating in a research report on Tuesday, August 27th. DA Davidson lifted their target price on shares of BlueLinx from $121.00 to $137.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Finally, Benchmark reissued a "buy" rating and set a $135.00 price target on shares of BlueLinx in a report on Wednesday, May 29th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target 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.