LPL Financial LLC Trims Position in BlueLinx Holdings Inc. (NYSE:BXC)

LPL Financial LLC cut its holdings in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 38.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,713 shares of the construction company’s stock after selling 1,713 shares during the quarter. LPL Financial LLC’s holdings in BlueLinx were worth $277,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in BlueLinx by 5.0% in the third quarter. JPMorgan Chase & Co. now owns 92,144 shares of the construction company’s stock valued at $9,714,000 after buying an additional 4,363 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of BlueLinx by 48.1% during the 4th quarter. Intech Investment Management LLC now owns 2,813 shares of the construction company’s stock worth $287,000 after acquiring an additional 914 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in shares of BlueLinx during the 4th quarter worth about $61,000. Barclays PLC boosted its stake in shares of BlueLinx by 32.0% during the 3rd quarter. Barclays PLC now owns 45,229 shares of the construction company’s stock worth $4,767,000 after acquiring an additional 10,966 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of BlueLinx by 11.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,433 shares of the construction company’s stock worth $351,000 after acquiring an additional 344 shares in the last quarter. 90.83% of the stock is owned by hedge funds and other institutional investors.

BlueLinx Trading Down 0.9 %

Shares of BlueLinx stock opened at $72.36 on Tuesday. The firm has a market capitalization of $591.98 million, a PE ratio of 11.79 and a beta of 1.82. BlueLinx Holdings Inc. has a twelve month low of $67.42 and a twelve month high of $134.79. The firm’s 50-day moving average price is $76.61 and its 200 day moving average price is $99.17. 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) last issued its quarterly earnings results 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 net margin of 1.80% and a return on equity of 7.50%. The company had revenue of $710.64 million during the quarter, compared to analysts’ expectations of $700.66 million.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BXC shares. Loop Capital lowered their target price on shares of BlueLinx from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. StockNews.com lowered shares of BlueLinx from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. DA Davidson lowered their target price on shares of BlueLinx from $137.00 to $119.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Finally, Benchmark lowered their target price on shares of BlueLinx from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.25.

About BlueLinx

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.