Vestcor Inc lessened its holdings in shares of BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 25.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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.
Other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in BlueLinx by 600.3% during the 3rd quarter. Victory Capital Management Inc. now owns 218,685 shares of the construction company's stock valued at $23,054,000 after purchasing an additional 187,456 shares during the period. JPMorgan Chase & Co. increased its holdings in BlueLinx by 5.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 92,144 shares of the construction company's stock valued at $9,714,000 after purchasing an additional 4,363 shares during the period. State Street Corp increased its holdings in BlueLinx by 0.6% during the 3rd 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 period. Charles Schwab Investment Management Inc. increased its holdings in BlueLinx by 28.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 167,178 shares of the construction company's stock valued at $17,624,000 after purchasing an additional 36,968 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in BlueLinx during the 3rd quarter valued at approximately $869,000. Hedge funds and other institutional investors own 90.83% of the company's stock.
BlueLinx Stock Down 1.4 %
Shares of BXC traded down $1.11 during mid-day trading on Tuesday, reaching $80.03. The company had a trading volume of 85,561 shares, compared to its average volume of 73,821. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.26 and a current ratio of 4.85. The firm has a 50-day moving average price of $95.18 and a 200 day moving average price of $105.30. BlueLinx Holdings Inc. has a 52 week low of $73.01 and a 52 week high of $134.79. The company has a market capitalization of $663.88 million, a price-to-earnings ratio of 13.03 and a beta of 2.18.
BlueLinx (NYSE:BXC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). BlueLinx had a return on equity of 7.50% and a net margin of 1.80%. The company had revenue of $710.64 million during the quarter, compared to the consensus estimate of $700.66 million.
Analyst Upgrades and Downgrades
Several analysts have weighed in on BXC shares. Loop Capital cut their price objective 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 research report on Thursday, February 20th. DA Davidson cut their price objective on BlueLinx from $137.00 to $119.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Finally, Benchmark cut their price objective 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 stock. Based on data from MarketBeat, BlueLinx presently has an average rating of "Moderate Buy" and an average target price of $123.50.
Read Our Latest Stock Analysis on BXC
BlueLinx Profile
(
Free Report)
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.
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