BlueLinx Holdings Inc. $BXC Shares Bought by Mutual Advisors LLC

Mutual Advisors LLC grew its holdings in BlueLinx Holdings Inc. (NYSE:BXC) by 87.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,280 shares of the construction company’s stock after purchasing an additional 7,589 shares during the period. Mutual Advisors LLC owned approximately 0.21% of BlueLinx worth $1,167,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. AlphaQuest LLC raised its holdings in BlueLinx by 11,900.0% in the 3rd quarter. AlphaQuest LLC now owns 2,520 shares of the construction company’s stock valued at $184,000 after buying an additional 2,499 shares during the period. Federated Hermes Inc. raised its stake in shares of BlueLinx by 1.9% in the 3rd quarter. Federated Hermes Inc. now owns 23,056 shares of the construction company’s stock valued at $1,685,000 after acquiring an additional 421 shares during the period. Versant Capital Management Inc lifted its holdings in shares of BlueLinx by 86.2% in the 3rd quarter. Versant Capital Management Inc now owns 350 shares of the construction company’s stock worth $26,000 after acquiring an additional 162 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of BlueLinx by 16.8% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 4,243 shares of the construction company’s stock worth $310,000 after purchasing an additional 611 shares during the period. Finally, State of Alaska Department of Revenue acquired a new stake in BlueLinx in the 3rd quarter valued at approximately $29,000. 90.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. DA Davidson set a $68.00 price target on BlueLinx in a research note on Thursday, November 6th. Weiss Ratings reissued a “sell (d)” rating on shares of BlueLinx in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $88.67.

BlueLinx Trading Up 7.3%

NYSE BXC opened at $78.69 on Thursday. BlueLinx Holdings Inc. has a 52 week low of $52.71 and a 52 week high of $107.64. The firm has a 50 day moving average of $66.77 and a two-hundred day moving average of $70.56. The company has a quick ratio of 3.15, a current ratio of 4.60 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $619.29 million, a PE ratio of 46.29 and a beta of 1.63.

BlueLinx (NYSE:BXC) last issued its earnings results on Tuesday, November 4th. The construction company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.06). The firm had revenue of $748.87 million for the quarter, compared to analyst estimates of $757.15 million. BlueLinx had a return on equity of 1.41% and a net margin of 0.48%.

BlueLinx Profile

BlueLinx Corporation is a leading distributor of building products in the United States, serving professional builders, contractors and industrial customers. The company offers a comprehensive portfolio that includes lumber, engineered wood products, plywood, oriented strand board, siding, railing, millwork and specialty construction materials. Through its nationwide network of distribution centers, BlueLinx provides inventory management, delivery and supply-chain solutions designed to help customers streamline operations and reduce carrying costs.

Founded in 2004 as a spin-off from Georgia-Pacific’s distribution business, BlueLinx has developed a broad product line that spans both residential and commercial construction markets.