BlueLinx (NYSE:BXC) Cut to “Hold” at StockNews.com

BlueLinx (NYSE:BXC) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

BlueLinx Stock Performance

NYSE:BXC opened at $78.51 on Friday. The company has a quick ratio of 3.01, a current ratio of 4.37 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $688.30 million, a PE ratio of 7.24 and a beta of 1.83. BlueLinx has a twelve month low of $61.80 and a twelve month high of $98.33. The stock’s 50-day simple moving average is $79.09 and its 200 day simple moving average is $83.84.

Insider Buying and Selling at BlueLinx

In other BlueLinx news, Director Mitchell B. Lewis sold 5,997 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $89.49, for a total value of $536,671.53. Following the completion of the transaction, the director now directly owns 25,427 shares in the company, valued at $2,275,462.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other BlueLinx news, Director Mitchell B. Lewis sold 3,155 shares of BlueLinx stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $86.42, for a total value of $272,655.10. Following the completion of the sale, the director now directly owns 6,334 shares in the company, valued at $547,384.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mitchell B. Lewis sold 5,997 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $89.49, for a total value of $536,671.53. Following the sale, the director now owns 25,427 shares of the company’s stock, valued at approximately $2,275,462.23. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,404 shares of company stock worth $1,273,866. 4.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BlueLinx

Several institutional investors have recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. purchased a new position in shares of BlueLinx during the 1st quarter valued at $34,000. Covestor Ltd purchased a new position in shares of BlueLinx during the 1st quarter valued at $50,000. UniSuper Management Pty Ltd purchased a new position in shares of BlueLinx during the 2nd quarter valued at $139,000. Steward Partners Investment Advisory LLC lifted its position in shares of BlueLinx by 7.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,090 shares of the construction company’s stock valued at $149,000 after buying an additional 138 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its position in shares of BlueLinx by 69.1% during the 4th quarter. Meeder Asset Management Inc. now owns 2,209 shares of the construction company’s stock valued at $157,000 after buying an additional 903 shares during the last quarter. Institutional investors own 87.01% of the company’s stock.

About BlueLinx

BlueLinx Holdings Inc, together with its subsidiaries, distributes residential and commercial building products in the United States. The company distributes specialty products comprising engineered wood, siding, millwork, outdoor living, specialty lumber and panels, and industrial products; and structural products include lumber, plywood, oriented strand boards, rebars and remesh, and other wood products primarily that are used for structural support in construction projects.