Alliancebernstein L.P. Reduces Stock Position in BlueLinx Holdings Inc. (NYSE:BXC)

Alliancebernstein L.P. trimmed its position in BlueLinx Holdings Inc. (NYSE:BXC) by 8.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,570 shares of the construction company’s stock after selling 3,350 shares during the quarter. Alliancebernstein L.P. owned about 0.44% of BlueLinx worth $3,736,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BXC. Public Employees Retirement System of Ohio boosted its holdings in BlueLinx by 59.1% in the third quarter. Public Employees Retirement System of Ohio now owns 377 shares of the construction company’s stock valued at $40,000 after purchasing an additional 140 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in shares of BlueLinx in the 4th quarter valued at about $61,000. AlphaQuest LLC boosted its stake in shares of BlueLinx by 28.4% in the fourth quarter. AlphaQuest LLC now owns 1,455 shares of the construction company’s stock worth $149,000 after buying an additional 322 shares during the last quarter. FMR LLC grew its holdings in BlueLinx by 10.5% during the third quarter. FMR LLC now owns 1,545 shares of the construction company’s stock worth $163,000 after acquiring an additional 147 shares during the period. Finally, Bailard Inc. purchased a new position in BlueLinx during the fourth quarter valued at approximately $245,000. Institutional investors and hedge funds own 90.83% of the company’s stock.

Analysts Set New Price Targets

BXC has been the topic of several recent research reports. Loop Capital lowered their price objective on BlueLinx from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday. DA Davidson lowered their price target on shares of BlueLinx from $137.00 to $119.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Benchmark cut their price objective on shares of BlueLinx from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, StockNews.com lowered shares of BlueLinx from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $122.25.

BlueLinx Trading Down 0.3 %

Shares of BXC stock opened at $71.34 on Tuesday. The stock has a 50 day simple moving average of $82.54 and a 200-day simple moving average of $101.59. BlueLinx Holdings Inc. has a 1-year low of $67.42 and a 1-year high of $134.79. The company has a market cap of $591.77 million, a price-to-earnings ratio of 11.62 and a beta of 1.82. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.85 and a quick ratio of 3.26.

BlueLinx (NYSE:BXC) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.51 earnings per share 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 analyst estimates of $700.66 million.

BlueLinx 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.