Victory Capital Management Inc. Increases Position in BlueLinx Holdings Inc. (NYSE:BXC)

Victory Capital Management Inc. raised its holdings in BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 600.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 218,685 shares of the construction company's stock after purchasing an additional 187,456 shares during the quarter. Victory Capital Management Inc. owned 2.61% of BlueLinx worth $23,054,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BXC. nVerses Capital LLC lifted its position in BlueLinx by 200.0% in the second quarter. nVerses Capital LLC now owns 300 shares of the construction company's stock valued at $28,000 after buying an additional 200 shares during the last quarter. Innealta Capital LLC acquired a new position in BlueLinx during the 2nd quarter worth about $39,000. Meeder Asset Management Inc. purchased a new position in BlueLinx during the 2nd quarter valued at about $70,000. Allspring Global Investments Holdings LLC grew its position in BlueLinx by 305.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 564 shares of the construction company's stock valued at $73,000 after acquiring an additional 425 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in BlueLinx by 24.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,097 shares of the construction company's stock worth $195,000 after purchasing an additional 418 shares during the period. 90.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BXC has been the subject of a number of research reports. StockNews.com upgraded shares of BlueLinx from a "hold" rating to a "buy" rating in a report on Saturday, October 12th. DA Davidson raised their target price on BlueLinx from $121.00 to $137.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Finally, Craig Hallum upped their price target on BlueLinx from $125.00 to $135.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $135.67.

BlueLinx Stock Performance

Shares of NYSE BXC traded down $1.71 during trading hours on Tuesday, reaching $121.05. The stock had a trading volume of 50,313 shares, compared to its average volume of 80,568. The firm has a 50-day moving average of $108.97 and a 200-day moving average of $103.63. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 35.75 and a beta of 1.94. The company has a current ratio of 4.58, a quick ratio of 3.26 and a debt-to-equity ratio of 0.88. BlueLinx Holdings Inc. has a fifty-two week low of $85.98 and a fifty-two week high of $132.67.

BlueLinx 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.