Teacher Retirement System of Texas Increases Stake in BlueLinx Holdings Inc. (NYSE:BXC)

Teacher Retirement System of Texas grew its holdings in shares of BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 98.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,922 shares of the construction company's stock after purchasing an additional 10,854 shares during the period. Teacher Retirement System of Texas owned approximately 0.26% of BlueLinx worth $2,240,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BXC. River Road Asset Management LLC acquired a new position in BlueLinx in the fourth quarter valued at approximately $7,541,000. Charles Schwab Investment Management Inc. increased its holdings in BlueLinx by 28.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 167,178 shares of the construction company's stock valued at $17,624,000 after buying an additional 36,968 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of BlueLinx during the 4th quarter valued at about $3,451,000. Meros Investment Management LP increased its stake in shares of BlueLinx by 54.5% in the 3rd quarter. Meros Investment Management LP now owns 60,799 shares of the construction company's stock valued at $6,409,000 after purchasing an additional 21,455 shares in the last quarter. Finally, Mill Road Capital Management LLC raised its holdings in BlueLinx by 10.1% in the 3rd quarter. Mill Road Capital Management LLC now owns 142,297 shares of the construction company's stock worth $15,001,000 after purchasing an additional 13,023 shares during the period. Institutional investors and hedge funds own 90.83% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BXC. Loop Capital dropped their price target on shares of BlueLinx from $135.00 to $120.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. StockNews.com cut BlueLinx from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Benchmark lowered their target price on shares of BlueLinx from $135.00 to $120.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Finally, DA Davidson dropped their target price on shares of BlueLinx from $137.00 to $119.00 and set a "buy" rating for the company in a report on Thursday, February 20th. One investment 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 has a consensus rating of "Moderate Buy" and a consensus price target of $123.50.

BlueLinx Trading Down 4.7 %

Shares of BXC stock traded down $3.75 during trading on Friday, hitting $76.69. 69,092 shares of the stock traded hands, compared to its average volume of 77,669. The firm has a market capitalization of $636.14 million, a P/E ratio of 12.49 and a beta of 2.18. BlueLinx Holdings Inc. has a 52-week low of $73.01 and a 52-week high of $134.79. 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's fifty day moving average price is $91.72 and its 200-day moving average price is $104.52.

BlueLinx (NYSE:BXC - Get Free Report) last released 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 analysts' expectations of $700.66 million. BlueLinx had a net margin of 1.80% and a return on equity of 7.50%.

About BlueLinx

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.