Public Employees Retirement System of Ohio Buys New Stake in BlueLinx Holdings Inc. $BXC

Key Points

• Public Employees Retirement System of Ohio purchased 12,729 BlueLinx shares worth approximately $788,000, giving it a roughly 0.16% stake. Institutional investors and hedge funds collectively own 90.83% of the company.
• Analyst views remain mixed: Benchmark and Wall Street Zen issued bullish assessments, while Weiss Ratings maintained a sell rating. BlueLinx has an overall consensus rating of “Hold” and a target price of $83.50.
• BlueLinx reported quarterly EPS of $1.15, well above the $0.30 consensus estimate, while revenue reached $814.08 million versus expectations of $793.72 million. Shares opened at $79.63, with the stock recently trading below its 52-week high of $93.80.

Public Employees Retirement System of Ohio bought a new stake in shares of BlueLinx Holdings Inc. (NYSE:BXC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 12,729 shares of the construction company's stock, valued at approximately $788,000. Public Employees Retirement System of Ohio owned approximately 0.16% of BlueLinx at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Towle & Co. increased its holdings in shares of BlueLinx by 113.8% during the fourth quarter. Towle & Co. now owns 167,196 shares of the construction company's stock valued at $10,271,000 after purchasing an additional 89,010 shares during the period. Gendell Jeffrey L lifted its holdings in BlueLinx by 9.0% in the fourth quarter. Gendell Jeffrey L now owns 718,993 shares of the construction company's stock worth $44,168,000 after purchasing an additional 59,657 shares during the period. Walleye Capital LLC bought a new position in BlueLinx in the 4th quarter valued at about $3,275,000. Charles Schwab Investment Management Inc. grew its position in BlueLinx by 16.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 304,794 shares of the construction company's stock valued at $18,723,000 after buying an additional 42,904 shares in the last quarter. Finally, Atom Investors LP acquired a new position in BlueLinx during the 4th quarter valued at about $2,469,000. Institutional investors and hedge funds own 90.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Weiss Ratings restated a "sell (d)" rating on shares of BlueLinx in a research report on Monday, August 17th. Benchmark increased their price objective on shares of BlueLinx from $75.00 to $83.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Wall Street Zen upgraded shares of BlueLinx from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, DA Davidson boosted their target price on BlueLinx from $65.00 to $84.00 and gave the stock a "neutral" rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $83.50.

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

BlueLinx Trading Down 1.9%

Shares of BXC stock opened at $79.63 on Thursday. The stock has a 50-day simple moving average of $70.29 and a 200 day simple moving average of $60.44. The stock has a market capitalization of $625.86 million, a P/E ratio of -318.49 and a beta of 1.45. BlueLinx Holdings Inc. has a fifty-two week low of $44.78 and a fifty-two week high of $93.80. The company has a quick ratio of 2.59, a current ratio of 4.01 and a debt-to-equity ratio of 0.95.

BlueLinx (NYSE:BXC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The construction company reported $1.15 EPS 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 firm had revenue of $814.08 million for the quarter, compared to analysts' expectations of $793.72 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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