The Manufacturers Life Insurance Company Decreases Stock Holdings in BlueLinx Holdings Inc. (NYSE:BXC)

The Manufacturers Life Insurance Company lessened its holdings in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,937 shares of the construction company’s stock after selling 144 shares during the period. The Manufacturers Life Insurance Company’s holdings in BlueLinx were worth $300,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hunter Perkins Capital Management LLC raised its stake in BlueLinx by 4.0% in the fourth quarter. Hunter Perkins Capital Management LLC now owns 5,225 shares of the construction company’s stock valued at $534,000 after buying an additional 200 shares during the last quarter. Sterling Capital Management LLC lifted its stake in shares of BlueLinx by 4.3% during the fourth quarter. Sterling Capital Management LLC now owns 5,556 shares of the construction company’s stock worth $568,000 after buying an additional 230 shares during the period. Invesco Ltd. boosted its position in BlueLinx by 2.8% in the fourth quarter. Invesco Ltd. now owns 10,947 shares of the construction company’s stock valued at $1,118,000 after buying an additional 295 shares during the last quarter. AlphaQuest LLC boosted its holdings in BlueLinx by 28.4% in the fourth quarter. AlphaQuest LLC now owns 1,455 shares of the construction company’s stock valued at $149,000 after purchasing an additional 322 shares during the last quarter. Finally, XTX Topco Ltd boosted its position in BlueLinx by 14.2% in the 4th quarter. XTX Topco Ltd now owns 2,747 shares of the construction company’s stock worth $281,000 after purchasing an additional 341 shares in the last quarter. Hedge funds and other institutional investors own 90.83% of the company’s stock.

BlueLinx Stock Up 1.7%

BlueLinx stock opened at $71.00 on Friday. BlueLinx Holdings Inc. has a fifty-two week low of $63.55 and a fifty-two week high of $134.79. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.26 and a current ratio of 4.85. The firm has a 50 day moving average price of $73.35 and a 200 day moving average price of $95.50. The company has a market capitalization of $569.55 million, a PE ratio of 11.56 and a beta of 1.99.

BlueLinx (NYSE:BXC) last released its earnings results on Tuesday, February 18th. The construction company reported $0.51 earnings per share (EPS) 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 Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Loop Capital lowered their price target on BlueLinx from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Benchmark cut their target price on shares of BlueLinx from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. StockNews.com lowered shares of BlueLinx from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, DA Davidson decreased their target price on shares of BlueLinx from $119.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, BlueLinx presently has an average rating of “Moderate Buy” and a consensus price target of $110.00.

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.