BNP Paribas Financial Markets Raises Stock Position in BlueLinx Holdings Inc. (NYSE:BXC)

BNP Paribas Financial Markets grew its holdings in shares of BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 219.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,408 shares of the construction company's stock after buying an additional 9,896 shares during the quarter. BNP Paribas Financial Markets owned 0.17% of BlueLinx worth $1,472,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Ameriprise Financial Inc. grew its holdings in BlueLinx by 1.8% during the 4th quarter. Ameriprise Financial Inc. now owns 76,030 shares of the construction company's stock valued at $7,767,000 after purchasing an additional 1,336 shares during the last quarter. Northern Trust Corp grew its stake in BlueLinx by 12.8% in the 4th quarter. Northern Trust Corp now owns 92,199 shares of the construction company's stock worth $9,419,000 after acquiring an additional 10,438 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of BlueLinx during the fourth quarter valued at approximately $1,528,000. RBF Capital LLC bought a new position in shares of BlueLinx during the fourth quarter valued at approximately $488,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of BlueLinx by 20.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,587 shares of the construction company's stock valued at $2,717,000 after purchasing an additional 4,539 shares in the last quarter. 90.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of BlueLinx from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. DA Davidson dropped their price objective on shares of BlueLinx from $119.00 to $80.00 and set a "buy" rating on the stock 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 on the stock in a research note on Friday, May 2nd. Finally, Loop Capital dropped their price objective on shares of BlueLinx from $120.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $110.00.

BlueLinx Stock Down 0.9%

NYSE:BXC traded down $0.63 during midday trading on Friday, reaching $65.89. 105,410 shares of the stock traded hands, compared to its average volume of 81,549. BlueLinx Holdings Inc. has a 12-month low of $63.55 and a 12-month high of $134.79. The business has a 50-day moving average of $72.14 and a two-hundred day moving average of $93.89. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.26 and a current ratio of 4.85. The stock has a market capitalization of $528.53 million, a PE ratio of 10.73 and a beta of 1.99.

BlueLinx (NYSE:BXC - Get Free Report) last posted its earnings results on Tuesday, February 18th. The construction company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The firm had revenue of $710.64 million for the quarter, compared to analysts' expectations of $700.66 million. BlueLinx had a net margin of 1.80% and a return on equity of 7.50%.

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.