Bank of America Corp DE Boosts Stake in BlueLinx Holdings Inc. (NYSE:BXC)

Bank of America Corp DE lifted its stake in shares of BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 18.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 39,527 shares of the construction company's stock after purchasing an additional 6,209 shares during the quarter. Bank of America Corp DE owned about 0.47% of BlueLinx worth $4,038,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sterling Capital Management LLC lifted its holdings in BlueLinx by 4.3% in the 4th quarter. Sterling Capital Management LLC now owns 5,556 shares of the construction company's stock valued at $568,000 after purchasing an additional 230 shares in the last quarter. Invesco Ltd. lifted its holdings in BlueLinx by 2.8% in the 4th quarter. Invesco Ltd. now owns 10,947 shares of the construction company's stock valued at $1,118,000 after purchasing an additional 295 shares in the last quarter. AlphaQuest LLC lifted its holdings in BlueLinx by 28.4% in the 4th quarter. AlphaQuest LLC now owns 1,455 shares of the construction company's stock valued at $149,000 after purchasing an additional 322 shares in the last quarter. XTX Topco Ltd lifted its holdings in BlueLinx by 14.2% in the 4th quarter. XTX Topco Ltd now owns 2,747 shares of the construction company's stock valued at $281,000 after purchasing an additional 341 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its holdings in BlueLinx by 11.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,433 shares of the construction company's stock valued at $351,000 after purchasing an additional 344 shares in the last quarter. 90.83% of the stock is owned by institutional investors and hedge funds.

BlueLinx Trading Down 1.5%

NYSE BXC traded down $1.00 during mid-day trading on Friday, hitting $66.98. The company's stock had a trading volume of 69,100 shares, compared to its average volume of 81,000. The firm has a market capitalization of $537.31 million, a P/E ratio of 10.91 and a beta of 1.99. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.85 and a quick ratio of 3.26. BlueLinx Holdings Inc. has a 52-week low of $63.55 and a 52-week high of $134.79. The stock's fifty day simple moving average is $70.64 and its two-hundred day simple moving average is $92.17.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BXC. Loop Capital reduced their target price on shares of BlueLinx from $120.00 to $115.00 and set a "buy" rating on the stock in a report on Monday, April 14th. DA Davidson dropped their price objective on shares of BlueLinx from $119.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Benchmark dropped their price objective on shares of BlueLinx from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Wall Street Zen raised shares of BlueLinx from a "sell" rating to a "hold" rating in a research note on Friday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $110.00.

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.