Price T Rowe Associates Inc. MD Acquires 4,539 Shares of BlueLinx Holdings Inc. (NYSE:BXC)

Price T Rowe Associates Inc. MD raised its stake in shares of BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 20.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,587 shares of the construction company's stock after buying an additional 4,539 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.32% of BlueLinx worth $2,717,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hsbc Holdings PLC raised its stake in BlueLinx by 19.2% in the fourth quarter. Hsbc Holdings PLC now owns 17,349 shares of the construction company's stock valued at $1,774,000 after purchasing an additional 2,792 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in BlueLinx by 352.0% in 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. Dimensional Fund Advisors LP boosted its position in BlueLinx by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 579,636 shares of the construction company's stock valued at $59,216,000 after buying an additional 1,889 shares during the period. Portolan Capital Management LLC grew its stake in shares of BlueLinx by 764.6% during the fourth quarter. Portolan Capital Management LLC now owns 35,061 shares of the construction company's stock valued at $3,582,000 after buying an additional 31,006 shares during the last quarter. Finally, XTX Topco Ltd grew its position in BlueLinx by 14.2% during the 4th quarter. XTX Topco Ltd now owns 2,747 shares of the construction company's stock worth $281,000 after acquiring an additional 341 shares during the last quarter. 90.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BXC shares. StockNews.com cut BlueLinx from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. DA Davidson decreased their target price on shares of BlueLinx from $119.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Loop Capital lowered their price objective on BlueLinx from $120.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Benchmark reduced their price objective on shares of BlueLinx from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $110.00.

BlueLinx Stock Performance

Shares of BXC stock traded up $3.78 during trading hours on Monday, reaching $71.90. The company had a trading volume of 9,320 shares, compared to its average volume of 80,561. BlueLinx Holdings Inc. has a one year low of $63.55 and a one year high of $134.79. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.26 and a current ratio of 4.85. The business has a fifty day moving average price of $73.93 and a 200-day moving average price of $96.65. The firm has a market cap of $576.74 million, a PE ratio of 11.68 and a beta of 1.99.

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

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.