Empowered Funds LLC boosted its stake in BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 42.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,018 shares of the construction company's stock after purchasing an additional 32,943 shares during the quarter. Empowered Funds LLC owned about 1.41% of BlueLinx worth $5,961,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in BXC. Summit Securities Group LLC acquired a new position in shares of BlueLinx during the 4th quarter worth about $31,000. Tower Research Capital LLC TRC boosted its stake in BlueLinx by 114.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 792 shares of the construction company's stock worth $59,000 after acquiring an additional 422 shares during the last quarter. State of Wyoming boosted its stake in BlueLinx by 19.5% during the 4th quarter. State of Wyoming now owns 1,456 shares of the construction company's stock worth $89,000 after acquiring an additional 238 shares during the last quarter. Comerica Bank grew its holdings in BlueLinx by 5,468.2% during the third 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. Finally, Inceptionr LLC acquired a new position in BlueLinx during the third quarter valued at approximately $230,000. Institutional investors and hedge funds own 90.83% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of BlueLinx in a research note on Wednesday, May 20th. DA Davidson lifted their price target on shares of BlueLinx from $65.00 to $84.00 and gave the stock a "neutral" rating in a research report on Thursday, August 6th. Benchmark boosted their price target on shares of BlueLinx from $75.00 to $83.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of BlueLinx from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $83.50.
- Blackstone NYSE: BX Stock a Buy After an Impressive Q3
View Our Latest Stock Report on BlueLinx
BlueLinx Trading Down 0.1%
NYSE BXC opened at $86.46 on Monday. The stock has a market capitalization of $679.58 million, a price-to-earnings ratio of -345.83 and a beta of 1.45. The stock's 50 day moving average price is $61.75 and its two-hundred day moving average price is $59.57. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.59 and a current ratio of 4.01. BlueLinx Holdings Inc. has a 52 week low of $44.78 and a 52 week high of $93.80.
BlueLinx (NYSE:BXC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The construction company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.85. BlueLinx had a negative net margin of 0.06% and a positive return on equity of 0.13%. The company had revenue of $814.08 million during the quarter, compared to analysts' expectations of $793.72 million.
About BlueLinx
(
Free Report)
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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