Deutsche Bank AG Has $3.42 Million Holdings in BlueLinx Holdings Inc. $BXC

Key Points

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Deutsche Bank AG grew its position in shares of BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 19.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,672 shares of the construction company's stock after buying an additional 7,574 shares during the period. Deutsche Bank AG owned approximately 0.57% of BlueLinx worth $3,424,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in BlueLinx by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 579,636 shares of the construction company's stock worth $59,216,000 after buying an additional 1,889 shares during the period. Charles Schwab Investment Management Inc. increased its position in BlueLinx by 19.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 239,037 shares of the construction company's stock worth $17,923,000 after buying an additional 39,166 shares during the period. Harbor Capital Advisors Inc. increased its position in BlueLinx by 3.6% during the 1st quarter. Harbor Capital Advisors Inc. now owns 143,552 shares of the construction company's stock worth $10,764,000 after buying an additional 5,000 shares during the period. Towle & Co. increased its position in BlueLinx by 7.2% during the 4th quarter. Towle & Co. now owns 120,972 shares of the construction company's stock worth $12,358,000 after buying an additional 8,123 shares during the period. Finally, Northern Trust Corp increased its position in BlueLinx by 12.8% during the 4th quarter. Northern Trust Corp now owns 92,199 shares of the construction company's stock worth $9,419,000 after buying an additional 10,438 shares during the period. Institutional investors own 90.83% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BXC shares. DA Davidson set a $75.00 price objective on BlueLinx and gave the stock a "neutral" rating in a research report on Monday, August 4th. Benchmark decreased their price target on BlueLinx from $110.00 to $83.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Finally, Wall Street Zen cut BlueLinx from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, BlueLinx has a consensus rating of "Moderate Buy" and an average price target of $91.00.

BlueLinx Price Performance

NYSE:BXC traded up $5.7450 during trading hours on Friday, hitting $84.3750. The company's stock had a trading volume of 92,404 shares, compared to its average volume of 130,638. The stock has a fifty day simple moving average of $77.05 and a 200-day simple moving average of $76.48. The company has a market capitalization of $665.72 million, a P/E ratio of 25.04 and a beta of 1.74. The company has a debt-to-equity ratio of 0.96, a current ratio of 4.55 and a quick ratio of 2.94. BlueLinx Holdings Inc. has a twelve month low of $63.13 and a twelve month high of $134.79.

BlueLinx announced that its board has authorized a stock repurchase plan on Tuesday, July 29th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

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.