Teacher Retirement System of Texas Sells 1,185 Shares of BlueLinx Holdings Inc. $BXC

Teacher Retirement System of Texas lowered its stake in BlueLinx Holdings Inc. (NYSE:BXC) by 14.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 6,755 shares of the construction company’s stock after selling 1,185 shares during the period. Teacher Retirement System of Texas owned approximately 0.08% of BlueLinx worth $502,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. CWM LLC increased its position in BlueLinx by 92.8% during the 1st quarter. CWM LLC now owns 696 shares of the construction company’s stock worth $52,000 after buying an additional 335 shares during the period. Federated Hermes Inc. grew its stake in shares of BlueLinx by 9.6% in the first quarter. Federated Hermes Inc. now owns 22,687 shares of the construction company’s stock valued at $1,701,000 after acquiring an additional 1,985 shares in the last quarter. De Lisle Partners LLP increased its position in BlueLinx by 2.0% during the first quarter. De Lisle Partners LLP now owns 51,873 shares of the construction company’s stock worth $3,893,000 after acquiring an additional 1,000 shares during the period. PNC Financial Services Group Inc. raised its stake in BlueLinx by 169.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,618 shares of the construction company’s stock worth $121,000 after purchasing an additional 1,018 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in BlueLinx by 19.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 239,037 shares of the construction company’s stock valued at $17,923,000 after purchasing an additional 39,166 shares during the period. 90.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on BXC. Wall Street Zen cut shares of BlueLinx from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Weiss Ratings reissued a “sell (d+)” rating on shares of BlueLinx in a research report on Wednesday, October 8th. DA Davidson set a $68.00 price objective on BlueLinx in a report on Thursday. Finally, Benchmark cut their target price on BlueLinx from $110.00 to $83.00 and set a “buy” rating for the company in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $88.67.

BlueLinx Stock Down 1.7%

NYSE BXC opened at $60.76 on Monday. The business has a fifty day moving average price of $73.72 and a two-hundred day moving average price of $73.87. The stock has a market capitalization of $477.88 million, a PE ratio of 18.03 and a beta of 1.59. BlueLinx Holdings Inc. has a fifty-two week low of $60.23 and a fifty-two week high of $134.79. The company has a debt-to-equity ratio of 0.96, a current ratio of 4.55 and a quick ratio of 2.94.

BlueLinx announced that its board has authorized a stock repurchase plan on Tuesday, July 29th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.