Goldman Sachs Group Inc. Has $5.79 Million Stock Holdings in BlueLinx Holdings Inc. $BXC

Key Points

• Goldman Sachs Group Inc. has reduced its holdings in BlueLinx Holdings Inc. by 30.4%, selling 33,716 shares and now owning approximately 0.96% of the company valued at $5.79 million.
• Multiple hedge funds have altered their positions in BlueLinx, with one firm, Jacobs Levy Equity Management Inc., increasing its stake by 265.2%.
• Equities analysts have mixed views on BlueLinx, with a consensus rating of "Moderate Buy" and a price target of $91.00, despite varying ratings and targets from different firms.

Goldman Sachs Group Inc. decreased its position in shares of BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 30.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,205 shares of the construction company's stock after selling 33,716 shares during the period. Goldman Sachs Group Inc. owned 0.96% of BlueLinx worth $5,789,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BXC. Ameriprise Financial Inc. grew its position in BlueLinx by 1.8% in the fourth quarter. Ameriprise Financial Inc. now owns 76,030 shares of the construction company's stock worth $7,767,000 after buying an additional 1,336 shares during the last quarter. BNP Paribas Financial Markets grew its position in BlueLinx by 219.3% during the 4th quarter. BNP Paribas Financial Markets now owns 14,408 shares of the construction company's stock worth $1,472,000 after purchasing an additional 9,896 shares in the last quarter. Bank of America Corp DE grew its position in BlueLinx by 18.6% during the 4th quarter. Bank of America Corp DE now owns 39,527 shares of the construction company's stock worth $4,038,000 after purchasing an additional 6,209 shares in the last quarter. Deutsche Bank AG grew its position in BlueLinx by 6.8% during the 4th quarter. Deutsche Bank AG now owns 38,098 shares of the construction company's stock worth $3,892,000 after purchasing an additional 2,416 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its position in BlueLinx by 3.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 19,376 shares of the construction company's stock worth $1,979,000 after purchasing an additional 663 shares in the last quarter. Institutional investors and hedge funds own 90.83% of the company's stock.

BlueLinx Stock Performance

BlueLinx stock traded down $2.56 on Friday, reaching $75.80. 208,728 shares of the stock were exchanged, compared to its average volume of 81,719. The stock has a market cap of $598.06 million, a PE ratio of 22.49 and a beta of 1.58. The company has a current ratio of 4.55, a quick ratio of 2.94 and a debt-to-equity ratio of 0.96. BlueLinx Holdings Inc. has a twelve month low of $63.13 and a twelve month high of $134.79. The firm has a fifty day moving average price of $78.82 and a two-hundred day moving average price of $75.11.

BlueLinx declared that its board has initiated a stock repurchase program on Tuesday, July 29th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 8% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

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

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.