Swiss National Bank trimmed its holdings in BlueLinx Holdings Inc. (NYSE:BXC – Free Report) by 3.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,400 shares of the construction company’s stock after selling 500 shares during the period. Swiss National Bank owned approximately 0.19% of BlueLinx worth $1,155,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 buying an additional 104 shares in the last quarter. Public Employees Retirement System of Ohio boosted 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 purchasing an additional 127 shares during the period. Invesco Ltd. boosted 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 purchasing an additional 295 shares during the period. CWM LLC boosted 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 purchasing an additional 335 shares during the period. Finally, Exchange Traded Concepts LLC boosted its holdings in BlueLinx by 14.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 3,113 shares of the construction company’s stock valued at $233,000 after purchasing an additional 404 shares during the period. 90.83% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
BXC has been the subject of several analyst reports. Wall Street Zen downgraded shares of BlueLinx from a “hold” rating to a “sell” rating in a report on Friday, July 18th. DA Davidson set a $75.00 price target on shares of BlueLinx and gave the company a “neutral” rating in a report on Monday, August 4th. Finally, Benchmark cut their price target on shares of BlueLinx from $110.00 to $83.00 and set a “buy” rating for the company in a report on Friday, August 1st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, BlueLinx currently has an average rating of “Moderate Buy” and a consensus price target of $91.00.
BlueLinx Stock Performance
NYSE BXC opened at $84.3770 on Tuesday. BlueLinx Holdings Inc. has a 52-week low of $63.13 and a 52-week high of $134.79. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.94 and a current ratio of 4.55. The company has a market capitalization of $665.90 million, a P/E ratio of 25.04 and a beta of 1.74. The company has a fifty day moving average of $77.37 and a 200-day moving average of $76.14.
BlueLinx declared that its Board of Directors has approved a share repurchase program on Tuesday, July 29th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
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.
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