Squarepoint Ops LLC Purchases 19,153 Shares of BlueLinx Holdings Inc. (NYSE:BXC)

Squarepoint Ops LLC raised its stake in shares of BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 548.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,644 shares of the construction company's stock after purchasing an additional 19,153 shares during the quarter. Squarepoint Ops LLC owned approximately 0.26% of BlueLinx worth $2,108,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of BXC. nVerses Capital LLC raised its position in shares of BlueLinx by 200.0% in the 2nd quarter. nVerses Capital LLC now owns 300 shares of the construction company's stock worth $28,000 after acquiring an additional 200 shares in the last quarter. Innealta Capital LLC bought a new position in shares of BlueLinx in the 2nd quarter worth about $39,000. Meeder Asset Management Inc. purchased a new position in BlueLinx during the 2nd quarter valued at about $70,000. Allspring Global Investments Holdings LLC boosted its stake in BlueLinx by 305.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 564 shares of the construction company's stock worth $73,000 after acquiring an additional 425 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in BlueLinx by 24.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,097 shares of the construction company's stock worth $195,000 after purchasing an additional 418 shares during the period. Hedge funds and other institutional investors own 90.83% of the company's stock.

BlueLinx Stock Performance

Shares of BXC stock traded up $2.71 during mid-day trading on Friday, reaching $106.18. 94,942 shares of the company's stock traded hands, compared to its average volume of 84,236. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.37 and a current ratio of 4.88. The firm has a 50 day moving average price of $101.97 and a two-hundred day moving average price of $105.54. The firm has a market capitalization of $919.73 million, a PE ratio of 19.38 and a beta of 1.94. BlueLinx Holdings Inc. has a 12 month low of $67.76 and a 12 month high of $132.67.

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

Analyst Upgrades and Downgrades

BXC has been the topic of a number of analyst reports. StockNews.com raised 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 report on Thursday, August 1st. Finally, Craig Hallum lifted their target price on BlueLinx from $125.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $135.67.

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.