Millennium Management LLC Has $642,000 Stake in BlueLinx Holdings Inc. (NYSE:BXC)

Millennium Management LLC reduced its stake in BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 43.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,283 shares of the construction company's stock after selling 4,779 shares during the period. Millennium Management LLC owned approximately 0.07% of BlueLinx worth $642,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Intech Investment Management LLC lifted its stake in BlueLinx by 48.1% during the fourth quarter. Intech Investment Management LLC now owns 2,813 shares of the construction company's stock worth $287,000 after purchasing an additional 914 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in BlueLinx during the fourth quarter worth $61,000. Barclays PLC lifted its stake in BlueLinx by 32.0% during the third quarter. Barclays PLC now owns 45,229 shares of the construction company's stock worth $4,767,000 after purchasing an additional 10,966 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in BlueLinx by 11.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,433 shares of the construction company's stock worth $351,000 after purchasing an additional 344 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in 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 last quarter. 90.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BXC shares. Benchmark cut their target price on BlueLinx from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. DA Davidson lowered their price target on shares of BlueLinx from $119.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Wall Street Zen upgraded shares of BlueLinx from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Finally, Loop Capital lowered their price target on shares of BlueLinx from $120.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 14th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $110.00.

BlueLinx Price Performance

Shares of NYSE:BXC traded down $0.44 during trading on Wednesday, hitting $71.08. 84,134 shares of the company were exchanged, compared to its average volume of 81,218. The business's 50 day moving average is $69.36 and its 200-day moving average is $89.16. The company has a market capitalization of $570.20 million, a P/E ratio of 11.58 and a beta of 1.91. The company has a quick ratio of 3.26, a current ratio of 4.85 and a debt-to-equity ratio of 0.89. BlueLinx Holdings Inc. has a 1-year low of $63.14 and a 1-year high of $134.79.

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.