Vestcor Inc Decreases Stock Holdings in BlueLinx Holdings Inc. (NYSE:BXC)

Vestcor Inc lessened its position in shares of BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 41.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 5,500 shares of the construction company's stock after selling 3,967 shares during the quarter. Vestcor Inc owned approximately 0.07% of BlueLinx worth $412,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its position in shares of BlueLinx by 33.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 504 shares of the construction company's stock worth $51,000 after purchasing an additional 127 shares during the period. CWM LLC raised its position in shares of BlueLinx by 92.8% during the first quarter. CWM LLC now owns 696 shares of the construction company's stock worth $52,000 after purchasing an additional 335 shares during the period. Tower Research Capital LLC TRC raised its position in shares of BlueLinx by 352.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,469 shares of the construction company's stock worth $150,000 after purchasing an additional 1,144 shares during the period. Mariner LLC acquired a new position in shares of BlueLinx during the fourth quarter worth approximately $220,000. Finally, Exchange Traded Concepts LLC raised its position in shares of BlueLinx by 14.9% during the first quarter. Exchange Traded Concepts LLC now owns 3,113 shares of the construction company's stock worth $233,000 after purchasing an additional 404 shares during the period. Institutional investors and hedge funds own 90.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Loop Capital lowered their target price on BlueLinx from $120.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Wall Street Zen downgraded BlueLinx from a "hold" rating to a "sell" rating in a report on Friday, July 18th. DA Davidson decreased their price target on BlueLinx from $80.00 to $75.00 and set a "neutral" rating for the company in a report on Monday. Finally, Benchmark decreased their price target on BlueLinx from $110.00 to $83.00 and set a "buy" rating for the company in a report on Friday.

BlueLinx Stock Performance

NYSE:BXC traded up $1.62 during trading on Tuesday, reaching $73.01. The company's stock had a trading volume of 257,722 shares, compared to its average volume of 139,127. The firm has a market cap of $576.05 million, a price-to-earnings ratio of 21.66 and a beta of 1.74. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.94 and a current ratio of 4.55. The firm has a 50 day moving average of $74.61 and a 200-day moving average of $79.31. BlueLinx Holdings Inc. has a 12 month low of $63.13 and a 12 month high of $134.79.

BlueLinx declared that its Board of Directors has approved a stock buyback plan on Tuesday, July 29th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

About BlueLinx

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.