Oliver Luxxe Assets LLC Acquires 7,701 Shares of BlueLinx Holdings Inc. (NYSE:BXC)

Oliver Luxxe Assets LLC raised its stake in shares of BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 108.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,799 shares of the construction company's stock after acquiring an additional 7,701 shares during the period. Oliver Luxxe Assets LLC owned approximately 0.17% of BlueLinx worth $1,560,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BXC. Harbor Capital Advisors Inc. increased its stake in shares of BlueLinx by 273.4% during the second quarter. Harbor Capital Advisors Inc. now owns 54,536 shares of the construction company's stock worth $5,077,000 after acquiring an additional 39,930 shares during the period. Meros Investment Management LP purchased a new position in shares of BlueLinx during the 2nd quarter worth approximately $3,663,000. Lord Abbett & CO. LLC acquired a new stake in shares of BlueLinx in the 1st quarter valued at approximately $4,195,000. American Century Companies Inc. grew its holdings in BlueLinx by 12.4% during the second quarter. American Century Companies Inc. now owns 268,059 shares of the construction company's stock worth $24,954,000 after acquiring an additional 29,582 shares during the period. Finally, Empowered Funds LLC raised its position in BlueLinx by 70.9% in the first quarter. Empowered Funds LLC now owns 62,627 shares of the construction company's stock worth $8,157,000 after acquiring an additional 25,972 shares in the last quarter. 90.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

BlueLinx Price Performance

Shares of BXC traded down $0.87 during mid-day trading on Tuesday, reaching $108.96. 58,362 shares of the company's stock were exchanged, compared to its average volume of 83,153. BlueLinx Holdings Inc. has a 52-week low of $67.76 and a 52-week high of $132.67. The company has a quick ratio of 3.37, a current ratio of 4.88 and a debt-to-equity ratio of 0.88. The company has a 50-day simple moving average of $101.01 and a two-hundred day simple moving average of $104.30. The company has a market cap of $943.81 million, a price-to-earnings ratio of 20.68 and a beta of 1.94.

BlueLinx (NYSE:BXC - Get Free Report) last announced 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 during 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.