BlueLinx Holdings Inc. $BXC Shares Bought by Deutsche Bank AG

Deutsche Bank AG raised its holdings in BlueLinx Holdings Inc. (NYSE:BXC) by 19.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 45,672 shares of the construction company’s stock after acquiring an additional 7,574 shares during the period. Deutsche Bank AG owned 0.57% of BlueLinx worth $3,424,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in BlueLinx by 2.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,643 shares of the construction company’s stock valued at $474,000 after acquiring an additional 104 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in BlueLinx by 33.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 504 shares of the construction company’s stock valued at $51,000 after acquiring an additional 127 shares during the last quarter. Invesco Ltd. raised its holdings in BlueLinx by 2.8% in the 4th quarter. Invesco Ltd. now owns 10,947 shares of the construction company’s stock valued at $1,118,000 after acquiring an additional 295 shares during the last quarter. CWM LLC raised its holdings in BlueLinx by 92.8% in the 1st quarter. CWM LLC now owns 696 shares of the construction company’s stock valued at $52,000 after acquiring an additional 335 shares during the last quarter. Finally, XTX Topco Ltd raised its holdings in BlueLinx by 14.2% in the 4th quarter. XTX Topco Ltd now owns 2,747 shares of the construction company’s stock valued at $281,000 after acquiring an additional 341 shares during the last quarter. 90.83% of the stock is currently owned by institutional investors and hedge funds.

BlueLinx Stock Up 0.7%

Shares of NYSE BXC opened at $79.65 on Tuesday. BlueLinx Holdings Inc. has a 52-week low of $63.13 and a 52-week high of $134.79. The firm has a fifty day moving average of $76.20 and a 200-day moving average of $76.97. The stock has a market capitalization of $628.44 million, a PE ratio of 23.64 and a beta of 1.74. The company has a quick ratio of 2.94, a current ratio of 4.55 and a debt-to-equity ratio of 0.96.

BlueLinx announced that its Board of Directors has authorized a share repurchase program on Tuesday, July 29th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the construction company to repurchase up to 8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BXC shares. Wall Street Zen cut shares of BlueLinx from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Benchmark lowered their price objective on shares of BlueLinx from $110.00 to $83.00 and set a “buy” rating for the company in a research note on Friday, August 1st. Finally, DA Davidson set a $75.00 price objective on shares of BlueLinx and gave the company a “neutral” rating in a research note on Monday, August 4th.

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.