Allianz Asset Management GmbH Has $1.93 Million Stock Position in BlueLinx Holdings Inc. $BXC

Allianz Asset Management GmbH grew its stake in BlueLinx Holdings Inc. (NYSE:BXC) by 150.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,445 shares of the construction company’s stock after purchasing an additional 15,887 shares during the period. Allianz Asset Management GmbH owned approximately 0.34% of BlueLinx worth $1,933,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Mutual Advisors LLC boosted its stake in BlueLinx by 87.3% in the 3rd quarter. Mutual Advisors LLC now owns 16,280 shares of the construction company’s stock valued at $1,167,000 after buying an additional 7,589 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of BlueLinx by 11,900.0% during the third quarter. AlphaQuest LLC now owns 2,520 shares of the construction company’s stock valued at $184,000 after acquiring an additional 2,499 shares during the period. Federated Hermes Inc. boosted 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 purchasing an additional 421 shares in the last quarter. Versant Capital Management Inc boosted its stake 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 valued at $26,000 after purchasing an additional 162 shares in the last quarter. Finally, Concurrent Investment Advisors LLC grew its holdings in shares of BlueLinx by 16.8% in 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 last quarter. 90.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BXC has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of BlueLinx in a report on Monday, December 29th. DA Davidson set a $68.00 target price on shares of BlueLinx in a research note on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $88.67.

BlueLinx Trading Down 4.2%

Shares of BXC opened at $75.25 on Friday. The stock’s fifty day simple moving average is $68.65 and its 200-day simple moving average is $70.60. The firm has a market capitalization of $592.23 million, a PE ratio of 44.27 and a beta of 1.63. BlueLinx Holdings Inc. has a 12-month low of $52.71 and a 12-month high of $103.10. The company has a quick ratio of 3.15, a current ratio of 4.60 and a debt-to-equity ratio of 0.96.

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.