Concentric Capital Strategies LP boosted its holdings in shares of BlueLinx Holdings Inc. (NYSE:BXC – Free Report) by 115.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,696 shares of the construction company’s stock after purchasing an additional 36,212 shares during the period. Concentric Capital Strategies LP owned about 0.86% of BlueLinx worth $4,159,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in BXC. Rock Creek Group LP bought a new position in shares of BlueLinx during the 3rd quarter worth approximately $37,000. Tower Research Capital LLC TRC boosted its stake in shares of BlueLinx by 114.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 792 shares of the construction company’s stock valued at $59,000 after purchasing an additional 422 shares in the last quarter. State of Wyoming boosted its stake in shares of BlueLinx by 19.5% in the 4th quarter. State of Wyoming now owns 1,456 shares of the construction company’s stock valued at $89,000 after purchasing an additional 238 shares in the last quarter. Comerica Bank grew its holdings in shares of BlueLinx by 5,468.2% in the 3rd quarter. Comerica Bank now owns 1,225 shares of the construction company’s stock worth $90,000 after purchasing an additional 1,203 shares during the last quarter. Finally, Inceptionr LLC acquired a new stake in shares of BlueLinx during the 3rd quarter worth about $230,000. 90.83% of the stock is owned by institutional investors and hedge funds.
BlueLinx Trading Down 1.5%
Shares of BXC opened at $54.32 on Thursday. The stock’s fifty day simple moving average is $53.20 and its 200-day simple moving average is $60.44. The firm has a market capitalization of $422.63 million, a PE ratio of -104.47 and a beta of 1.45. BlueLinx Holdings Inc. has a 12-month low of $44.78 and a 12-month high of $88.30. The company has a quick ratio of 2.51, a current ratio of 3.90 and a debt-to-equity ratio of 0.96.
Wall Street Analyst Weigh In
BXC has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BlueLinx in a report on Wednesday, May 20th. Benchmark decreased their target price on BlueLinx from $83.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, Wall Street Zen raised BlueLinx from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $71.50.
Check Out Our Latest Analysis on BXC
About BlueLinx
BlueLinx Corporation is a leading distributor of building products in the United States, serving professional builders, contractors and industrial customers. The company offers a comprehensive portfolio that includes lumber, engineered wood products, plywood, oriented strand board, siding, railing, millwork and specialty construction materials. Through its nationwide network of distribution centers, BlueLinx provides inventory management, delivery and supply-chain solutions designed to help customers streamline operations and reduce carrying costs.
Founded in 2004 as a spin-off from Georgia-Pacific’s distribution business, BlueLinx has developed a broad product line that spans both residential and commercial construction markets.
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