Voss Capital LP Trims Position in BlueLinx Holdings Inc. $BXC

Key Points

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Voss Capital LP lessened its stake in shares of BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 88.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 12,500 shares of the construction company's stock after selling 93,500 shares during the period. Voss Capital LP owned 0.16% of BlueLinx worth $937,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BXC. Third Avenue Management LLC purchased a new position in shares of BlueLinx during the 1st quarter valued at $2,240,000. Hsbc Holdings PLC raised its holdings in BlueLinx by 31.7% during the first quarter. Hsbc Holdings PLC now owns 22,841 shares of the construction company's stock valued at $1,726,000 after acquiring an additional 5,492 shares during the period. Quantbot Technologies LP bought a new stake in BlueLinx during the first quarter valued at about $153,000. American Century Companies Inc. lifted its position in shares of BlueLinx by 3.1% in the first quarter. American Century Companies Inc. now owns 321,375 shares of the construction company's stock valued at $24,097,000 after acquiring an additional 9,808 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of BlueLinx in the first quarter worth about $59,497,000. Institutional investors own 90.83% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BXC. DA Davidson set a $75.00 price objective on shares of BlueLinx and gave the company a "neutral" rating in a research report on Monday, August 4th. Benchmark cut their price objective on BlueLinx from $110.00 to $83.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Finally, Wall Street Zen cut BlueLinx from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, BlueLinx presently has an average rating of "Moderate Buy" and an average price target of $91.00.

BlueLinx Trading Up 7.3%

Shares of NYSE BXC traded up $5.7450 during trading hours on Friday, hitting $84.3750. 92,404 shares of the company traded hands, compared to its average volume of 130,638. The stock has a market capitalization of $665.72 million, a price-to-earnings ratio of 25.04 and a beta of 1.74. The company's 50 day moving average price is $77.05 and its 200 day moving average price is $76.48. BlueLinx Holdings Inc. has a 12 month low of $63.13 and a 12 month high of $134.79. The company has a current ratio of 4.55, a quick ratio of 2.94 and a debt-to-equity ratio of 0.96.

BlueLinx declared that its Board of Directors has initiated a stock buyback plan on Tuesday, July 29th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the construction company to reacquire up to 8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

BlueLinx 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.