Norges Bank Purchases Shares of 15,000 BlueLinx Holdings Inc. (NYSE:BXC)

Norges Bank purchased a new position in shares of BlueLinx Holdings Inc. (NYSE:BXC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 15,000 shares of the construction company's stock, valued at approximately $1,532,000. Norges Bank owned 0.18% of BlueLinx as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BXC. Public Employees Retirement System of Ohio grew its holdings in shares of BlueLinx by 59.1% during the third quarter. Public Employees Retirement System of Ohio now owns 377 shares of the construction company's stock worth $40,000 after buying an additional 140 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in BlueLinx during the 4th quarter worth $61,000. AlphaQuest LLC raised its holdings in shares of BlueLinx by 28.4% during the 4th quarter. AlphaQuest LLC now owns 1,455 shares of the construction company's stock valued at $149,000 after buying an additional 322 shares during the period. FMR LLC boosted its stake in shares of BlueLinx by 10.5% in the third quarter. FMR LLC now owns 1,545 shares of the construction company's stock valued at $163,000 after purchasing an additional 147 shares during the period. Finally, Bailard Inc. purchased a new stake in shares of BlueLinx during the fourth quarter worth about $245,000. Hedge funds and other institutional investors own 90.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BXC shares. DA Davidson dropped their price objective on shares of BlueLinx from $137.00 to $119.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. StockNews.com cut BlueLinx from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Loop Capital lowered their price objective on shares of BlueLinx from $120.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Benchmark dropped their price target on BlueLinx from $135.00 to $120.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $122.25.

BlueLinx Stock Up 1.5 %

Shares of NYSE:BXC traded up $1.08 during midday trading on Thursday, reaching $71.16. 12,554 shares of the company were exchanged, compared to its average volume of 79,772. The firm has a market cap of $590.23 million, a PE ratio of 11.58 and a beta of 1.82. The stock has a fifty day simple moving average of $81.17 and a two-hundred day simple moving average of $101.16. BlueLinx Holdings Inc. has a fifty-two week low of $67.42 and a fifty-two week 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.

BlueLinx (NYSE:BXC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The business had revenue of $710.64 million for the quarter, compared to analyst estimates of $700.66 million. BlueLinx had a return on equity of 7.50% and a net margin of 1.80%.

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.