Harbor Capital Advisors Inc. Acquires 5,000 Shares of BlueLinx Holdings Inc. (NYSE:BXC)

Harbor Capital Advisors Inc. increased its stake in shares of BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 3.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,552 shares of the construction company's stock after purchasing an additional 5,000 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 1.73% of BlueLinx worth $10,764,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BXC. Intech Investment Management LLC boosted its holdings in shares of BlueLinx by 48.1% during the 4th quarter. Intech Investment Management LLC now owns 2,813 shares of the construction company's stock valued at $287,000 after acquiring an additional 914 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in shares of BlueLinx in the fourth quarter valued at approximately $61,000. Steward Partners Investment Advisory LLC raised its holdings in BlueLinx by 11.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,433 shares of the construction company's stock valued at $351,000 after buying an additional 344 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in BlueLinx by 352.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,469 shares of the construction company's stock worth $150,000 after buying an additional 1,144 shares during the period. Finally, Bank of America Corp DE grew its holdings 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 acquiring an additional 6,209 shares during the last quarter. Institutional investors own 90.83% of the company's stock.

BlueLinx Stock Down 4.1%

NYSE:BXC traded down $2.85 during trading hours on Friday, reaching $66.82. The company had a trading volume of 75,445 shares, compared to its average volume of 81,055. BlueLinx Holdings Inc. has a twelve month low of $63.14 and a twelve month high of $134.79. The company has a quick ratio of 3.26, a current ratio of 4.85 and a debt-to-equity ratio of 0.89. The firm has a market cap of $536.03 million, a price-to-earnings ratio of 10.88 and a beta of 1.91. The business's 50-day simple moving average is $69.32 and its two-hundred day simple moving average is $88.74.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. DA Davidson cut their price target on shares of BlueLinx from $119.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Loop Capital decreased their price target on BlueLinx from $120.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Wall Street Zen raised BlueLinx from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Benchmark reduced their target price on BlueLinx from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $110.00.

BlueLinx Company 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.