Vanguard Group Inc. Has $38.82 Million Stock Holdings in BlueLinx Holdings Inc. $BXC

Vanguard Group Inc. trimmed its position in BlueLinx Holdings Inc. (NYSE:BXC) by 0.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 517,695 shares of the construction company’s stock after selling 1,992 shares during the period. Vanguard Group Inc. owned approximately 6.45% of BlueLinx worth $38,817,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its holdings in BlueLinx by 33.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 504 shares of the construction company’s stock worth $51,000 after purchasing an additional 127 shares in the last quarter. CWM LLC grew its holdings in BlueLinx by 92.8% during the first 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. PNC Financial Services Group Inc. grew its holdings in BlueLinx by 169.7% during the first quarter. PNC Financial Services Group Inc. now owns 1,618 shares of the construction company’s stock valued at $121,000 after purchasing an additional 1,018 shares during the period. Tower Research Capital LLC TRC grew its holdings in BlueLinx by 352.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,469 shares of the construction company’s stock valued at $150,000 after purchasing an additional 1,144 shares during the period. Finally, Mariner LLC bought a new position in BlueLinx during the fourth quarter valued at $220,000. 90.83% of the stock is owned by institutional investors.

BlueLinx Stock Down 0.7%

BXC opened at $83.90 on Wednesday. The company has a current ratio of 4.55, a quick ratio of 2.94 and a debt-to-equity ratio of 0.96. The company has a market cap of $661.93 million, a P/E ratio of 24.89 and a beta of 1.74. BlueLinx Holdings Inc. has a 12 month low of $63.13 and a 12 month high of $134.79. The business’s 50-day moving average price is $77.74 and its 200-day moving average price is $76.20.

BlueLinx announced that its board has initiated a stock buyback 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 purchase up to 8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

BXC has been the topic of several recent research reports. DA Davidson set a $75.00 target price on BlueLinx and gave the stock a “neutral” rating in a research report on Monday, August 4th. Benchmark lowered their price objective on BlueLinx from $110.00 to $83.00 and set a “buy” rating on the stock in a research report on Friday, August 1st. Finally, Wall Street Zen downgraded BlueLinx from a “hold” rating to a “sell” rating in a research report on Friday, July 18th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.00.

BlueLinx Company 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.