Empowered Funds LLC Has $5.96 Million Holdings in BlueLinx Holdings Inc. $BXC

Key Points

• Empowered Funds LLC increased its BlueLinx Holdings position by 42.7% in the first quarter, bringing its stake to 110,018 shares worth approximately $5.96 million, or 1.41% of the company.
• Institutional investors and hedge funds collectively own 90.83% of BlueLinx’s outstanding stock, with several firms recently initiating or expanding positions.
• Analyst sentiment is mixed, resulting in an average “Hold” rating and a $70 target price. BlueLinx recently beat quarterly EPS expectations, reporting $0.21 versus the consensus estimate of a $0.72 loss.

Empowered Funds LLC raised its position in shares of BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 42.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,018 shares of the construction company's stock after acquiring an additional 32,943 shares during the period. Empowered Funds LLC owned approximately 1.41% of BlueLinx worth $5,961,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BXC. Summit Securities Group LLC bought a new position in shares of BlueLinx during the fourth quarter worth approximately $31,000. Tower Research Capital LLC TRC boosted its stake in BlueLinx by 114.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 792 shares of the construction company's stock valued at $59,000 after purchasing an additional 422 shares during the period. Comerica Bank boosted its stake in BlueLinx by 5,468.2% in the 3rd quarter. Comerica Bank now owns 1,225 shares of the construction company's stock valued at $90,000 after purchasing an additional 1,203 shares during the period. State of Wyoming grew its holdings in BlueLinx by 19.5% in the 4th quarter. State of Wyoming now owns 1,456 shares of the construction company's stock valued at $89,000 after buying an additional 238 shares in the last quarter. Finally, Inceptionr LLC acquired a new position in BlueLinx in the 3rd quarter valued at $230,000. Institutional investors and hedge funds own 90.83% of the company's stock.

Analyst Ratings Changes

BXC has been the subject of a number of research reports. DA Davidson reissued a "neutral" rating and set a $65.00 target price on shares of BlueLinx in a report on Wednesday, July 15th. Weiss Ratings restated a "sell (d)" rating on shares of BlueLinx in a research note on Wednesday, May 20th. Finally, Wall Street Zen raised shares of BlueLinx from a "sell" rating to a "hold" rating in a research report on Saturday, April 25th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, BlueLinx currently has an average rating of "Hold" and an average target price of $70.00.

• Blackstone NYSE: BX Stock a Buy After an Impressive Q3

BlueLinx Trading Up 0.8%

Shares of BXC stock opened at $53.87 on Friday. The company has a current ratio of 3.90, a quick ratio of 2.51 and a debt-to-equity ratio of 0.96. The stock has a market cap of $419.10 million, a P/E ratio of -103.59 and a beta of 1.41. The stock has a 50 day simple moving average of $55.63 and a 200 day simple moving average of $59.21. BlueLinx Holdings Inc. has a 1 year low of $44.78 and a 1 year high of $87.88.

BlueLinx (NYSE:BXC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The construction company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.72) by $0.93. BlueLinx had a negative return on equity of 0.30% and a negative net margin of 0.14%.The business had revenue of $731.15 million for the quarter, compared to the consensus estimate of $714.84 million.

About BlueLinx

BlueLinx Corporation is a leading distributor of building products in the United States, serving professional builders, contractors and industrial customers. The company offers a comprehensive portfolio that includes lumber, engineered wood products, plywood, oriented strand board, siding, railing, millwork and specialty construction materials. Through its nationwide network of distribution centers, BlueLinx provides inventory management, delivery and supply-chain solutions designed to help customers streamline operations and reduce carrying costs.

Founded in 2004 as a spin-off from Georgia-Pacific's distribution business, BlueLinx has developed a broad product line that spans both residential and commercial construction markets.

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