Portolan Capital Management LLC Raises Stock Holdings in BlueLinx Holdings Inc. (NYSE:BXC)

Portolan Capital Management LLC lifted its holdings in shares of BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 764.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,061 shares of the construction company's stock after acquiring an additional 31,006 shares during the period. Portolan Capital Management LLC owned approximately 0.42% of BlueLinx worth $3,582,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. American Century Companies Inc. boosted its position in shares of BlueLinx by 8.4% during the fourth quarter. American Century Companies Inc. now owns 311,567 shares of the construction company's stock valued at $31,830,000 after buying an additional 24,087 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of BlueLinx by 19.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 199,871 shares of the construction company's stock worth $20,419,000 after acquiring an additional 32,693 shares in the last quarter. State Street Corp raised its holdings in shares of BlueLinx by 0.6% in the third quarter. State Street Corp now owns 198,003 shares of the construction company's stock valued at $20,873,000 after purchasing an additional 1,252 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of BlueLinx by 1.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 138,552 shares of the construction company's stock valued at $14,154,000 after purchasing an additional 1,359 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in BlueLinx by 5.0% during the third quarter. JPMorgan Chase & Co. now owns 92,144 shares of the construction company's stock worth $9,714,000 after purchasing an additional 4,363 shares during the last quarter. Institutional investors own 90.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BXC shares. StockNews.com lowered shares of BlueLinx from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. DA Davidson dropped their price target on BlueLinx from $137.00 to $119.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Loop Capital lowered their price objective on shares of BlueLinx from $120.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Benchmark dropped their price target on BlueLinx from $135.00 to $120.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. One investment 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 $122.25.

BlueLinx Price Performance

NYSE BXC traded up $1.62 during trading on Friday, reaching $71.70. The company's stock had a trading volume of 96,788 shares, compared to its average volume of 80,138. The stock has a market capitalization of $586.58 million, a PE ratio of 11.68 and a beta of 1.82. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.85 and a quick ratio of 3.26. The firm has a fifty day moving average of $79.88 and a 200 day moving average of $100.69. BlueLinx Holdings Inc. has a one year low of $67.42 and a one year high of $134.79.

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

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.