Vestcor Inc Decreases Holdings in BlueLinx Holdings Inc. (NYSE:BXC)

Vestcor Inc lowered its position in shares of BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 25.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,467 shares of the construction company's stock after selling 3,247 shares during the period. Vestcor Inc owned about 0.11% of BlueLinx worth $967,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BXC. Victory Capital Management Inc. increased its position in shares of BlueLinx by 600.3% during the third quarter. Victory Capital Management Inc. now owns 218,685 shares of the construction company's stock worth $23,054,000 after purchasing an additional 187,456 shares in the last quarter. Empowered Funds LLC increased its position in shares of BlueLinx by 2.9% during the third quarter. Empowered Funds LLC now owns 67,410 shares of the construction company's stock worth $7,106,000 after purchasing an additional 1,891 shares in the last quarter. Quest Partners LLC increased its position in shares of BlueLinx by 43.2% during the third quarter. Quest Partners LLC now owns 1,133 shares of the construction company's stock worth $119,000 after purchasing an additional 342 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of BlueLinx by 50.1% during the third quarter. Meeder Asset Management Inc. now owns 1,135 shares of the construction company's stock worth $120,000 after purchasing an additional 379 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in BlueLinx in the 3rd quarter valued at about $200,000. Institutional investors and hedge funds own 90.83% of the company's stock.

Remove Ads

BlueLinx Stock Performance

NYSE BXC traded down $0.36 on Tuesday, hitting $80.78. 20,276 shares of the company's stock were exchanged, compared to its average volume of 73,541. 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 50-day moving average price is $95.55 and its two-hundred day moving average price is $105.45. BlueLinx Holdings Inc. has a fifty-two week low of $73.01 and a fifty-two week high of $134.79. The firm has a market cap of $670.07 million, a price-to-earnings ratio of 13.16 and a beta of 2.18.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on BXC. DA Davidson dropped their price target on BlueLinx from $137.00 to $119.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Loop Capital 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. 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. Finally, StockNews.com cut BlueLinx from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $123.50.

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.