Raymond James Financial Inc. Invests $3.45 Million in BlueLinx Holdings Inc. (NYSE:BXC)

Raymond James Financial Inc. bought a new position in shares of BlueLinx Holdings Inc. (NYSE:BXC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 33,780 shares of the construction company's stock, valued at approximately $3,451,000. Raymond James Financial Inc. owned approximately 0.40% of BlueLinx at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its holdings in BlueLinx by 19.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 199,871 shares of the construction company's stock valued at $20,419,000 after buying an additional 32,693 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in BlueLinx by 11.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,433 shares of the construction company's stock valued at $351,000 after acquiring an additional 344 shares in the last quarter. Bailard Inc. bought a new stake in BlueLinx in the 4th quarter valued at $245,000. Hunter Perkins Capital Management LLC lifted its stake in BlueLinx by 4.0% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 5,225 shares of the construction company's stock worth $534,000 after purchasing an additional 200 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of BlueLinx by 1.0% during the 4th 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 during the last quarter. Institutional investors own 90.83% of the company's stock.

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Wall Street Analyst Weigh In

BXC has been the topic of a number of research analyst reports. Benchmark decreased their target price on BlueLinx from $135.00 to $120.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. StockNews.com cut BlueLinx from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Loop Capital cut their target price on shares of BlueLinx from $135.00 to $120.00 and set a "buy" rating for the company in a report on Friday, February 21st. Finally, DA Davidson reduced their price target on shares of BlueLinx from $137.00 to $119.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, BlueLinx presently has a consensus rating of "Moderate Buy" and a consensus target price of $123.50.

BlueLinx Trading Down 2.0 %

Shares of NYSE:BXC traded down $1.50 during trading on Monday, hitting $75.11. The company had a trading volume of 83,339 shares, compared to its average volume of 77,691. The stock has a market cap of $623.04 million, a price-to-earnings ratio of 12.23 and a beta of 2.18. 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 company has a fifty day simple moving average of $91.08 and a two-hundred day simple moving average of $104.37. BlueLinx Holdings Inc. has a one year low of $73.01 and a one year high of $134.79.

BlueLinx (NYSE:BXC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The company had revenue of $710.64 million during the quarter, compared to the consensus estimate of $700.66 million. BlueLinx had a return on equity of 7.50% and a net margin of 1.80%.

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.