Meros Investment Management LP Makes New Investment in BlueLinx Holdings Inc. (NYSE:BXC)

Meros Investment Management LP purchased a new stake in BlueLinx Holdings Inc. (NYSE:BXC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 39,344 shares of the construction company's stock, valued at approximately $3,663,000. BlueLinx accounts for 1.7% of Meros Investment Management LP's holdings, making the stock its 27th largest position. Meros Investment Management LP owned approximately 0.45% of BlueLinx at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lord Abbett & CO. LLC bought a new stake in BlueLinx in the 1st quarter valued at $4,195,000. GSA Capital Partners LLP bought a new stake in BlueLinx in the 1st quarter valued at $1,501,000. Cornercap Investment Counsel Inc. bought a new stake in BlueLinx in the 2nd quarter valued at $495,000. SG Americas Securities LLC bought a new stake in BlueLinx in the 1st quarter valued at $1,076,000. Finally, Empowered Funds LLC lifted its position in BlueLinx by 70.9% in the 1st quarter. Empowered Funds LLC now owns 62,627 shares of the construction company's stock valued at $8,157,000 after acquiring an additional 25,972 shares in the last quarter. Institutional investors and hedge funds own 90.83% of the company's stock.

Analyst Upgrades and Downgrades

BXC has been the topic of several analyst reports. StockNews.com raised shares of BlueLinx from a "hold" rating to a "buy" rating in a research report on Tuesday, August 27th. DA Davidson boosted their price target 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, Craig Hallum boosted their price target on shares of BlueLinx from $125.00 to $135.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $135.67.

BlueLinx Stock Performance

Shares of BlueLinx stock traded down $1.38 during trading on Friday, hitting $104.56. 127,850 shares of the stock were exchanged, compared to its average volume of 84,784. The stock has a market capitalization of $891.90 million, a price-to-earnings ratio of 19.88 and a beta of 1.95. The company has a fifty day moving average price of $103.18 and a 200-day moving average price of $105.99. BlueLinx Holdings Inc. has a 1-year low of $67.76 and a 1-year high of $132.67. 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 (NYSE:BXC - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.53 earnings per share for the quarter. The company had revenue of $768.36 million for the quarter. BlueLinx had a net margin of 1.26% and a return on equity of 12.14%.

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.