Sei Investments Co. Buys 28,571 Shares of BlueLinx Holdings Inc. $BXC

Key Points

• Sei Investments increased its BlueLinx stake by 92.1% in the first quarter, purchasing 28,571 additional shares and bringing its total holdings to 59,592 shares, worth approximately $3.23 million. Institutional investors collectively own 90.83% of BXC.
• Analyst opinions remain mixed: DA Davidson and Benchmark raised their price targets to $84 and $83, respectively, while ratings range from buy to sell. MarketBeat reports a consensus “Hold” rating and an average price target of $83.50.
• BlueLinx shares opened at $89.53, near their 52-week high, after the company reported quarterly EPS of $1.15—well above the $0.30 consensus estimate—and revenue of $814.08 million, exceeding expectations.

Sei Investments Co. raised its stake in BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 92.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,592 shares of the construction company's stock after acquiring an additional 28,571 shares during the quarter. Sei Investments Co. owned about 0.77% of BlueLinx worth $3,229,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of BXC. Dimensional Fund Advisors LP lifted its position in shares of BlueLinx by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 512,594 shares of the construction company's stock worth $27,771,000 after purchasing an additional 2,008 shares in the last quarter. Heartland Advisors Inc. increased its holdings in shares of BlueLinx by 22.8% in the first quarter. Heartland Advisors Inc. now owns 92,075 shares of the construction company's stock valued at $4,989,000 after purchasing an additional 17,075 shares in the last quarter. Fifth Third Bancorp bought a new position in BlueLinx in the 1st quarter worth approximately $689,000. River Road Asset Management LLC raised its position in BlueLinx by 9.9% in the 4th quarter. River Road Asset Management LLC now owns 240,500 shares of the construction company's stock worth $14,774,000 after purchasing an additional 21,640 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in BlueLinx by 15.3% during the 4th quarter. Invesco Ltd. now owns 25,724 shares of the construction company's stock worth $1,580,000 after buying an additional 3,415 shares in the last quarter. 90.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on BXC. DA Davidson lifted their target price on BlueLinx from $65.00 to $84.00 and gave the company a "neutral" rating in a research note on Thursday. Wall Street Zen raised BlueLinx from a "hold" rating to a "buy" rating in a research note on Saturday. Weiss Ratings reiterated a "sell (d)" rating on shares of BlueLinx in a report on Wednesday, May 20th. Finally, Benchmark lifted their price objective on BlueLinx from $75.00 to $83.00 and gave the stock a "buy" rating in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $83.50.

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

BlueLinx Trading Up 4.8%

Shares of NYSE BXC opened at $89.53 on Friday. BlueLinx Holdings Inc. has a fifty-two week low of $44.78 and a fifty-two week high of $90.87. The firm has a market capitalization of $703.75 million, a P/E ratio of -358.13 and a beta of 1.44. The company has a debt-to-equity ratio of 0.95, a current ratio of 4.01 and a quick ratio of 2.51. The company's 50 day simple moving average is $57.93 and its 200 day simple moving average is $59.14.

BlueLinx (NYSE:BXC - Get Free Report) last issued its earnings results on Tuesday, August 4th. The construction company reported $1.15 EPS for the quarter, beating 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

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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