Raymond James Financial Inc. Takes $3.45 Million Position in BlueLinx Holdings Inc. (NYSE:BXC)

Raymond James Financial Inc. purchased a new stake in shares of BlueLinx Holdings Inc. (NYSE:BXC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 33,780 shares of the construction company's stock, valued at approximately $3,451,000. Raymond James Financial Inc. owned approximately 0.40% of BlueLinx at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. River Road Asset Management LLC purchased a new stake in BlueLinx in the 4th quarter worth $7,541,000. Charles Schwab Investment Management Inc. raised its position in shares of BlueLinx by 19.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 199,871 shares of the construction company's stock valued at $20,419,000 after buying an additional 32,693 shares during the period. American Century Companies Inc. lifted its stake in shares of BlueLinx by 8.4% in the 4th quarter. American Century Companies Inc. now owns 311,567 shares of the construction company's stock valued at $31,830,000 after purchasing an additional 24,087 shares during the last quarter. Norges Bank purchased a new position in BlueLinx during the fourth quarter worth about $1,532,000. Finally, Barclays PLC increased its holdings in BlueLinx by 32.0% in the 3rd quarter. Barclays PLC now owns 45,229 shares of the construction company's stock valued at $4,767,000 after purchasing an additional 10,966 shares during the last quarter. 90.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

BlueLinx Price Performance

Shares of BXC traded up $2.92 during mid-day trading on Friday, hitting $66.68. The company's stock had a trading volume of 16,714 shares, compared to its average volume of 81,004. The firm has a market capitalization of $545.51 million, a P/E ratio of 10.93 and a beta of 1.82. BlueLinx Holdings Inc. has a 1-year low of $63.55 and a 1-year high of $134.79. The firm has a 50-day simple moving average of $75.54 and a 200 day simple moving average of $98.43. The company has a current ratio of 4.85, a quick ratio of 3.26 and a debt-to-equity ratio of 0.89.

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

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.