Catawba River Capital Invests $7.43 Million in BlueLinx Holdings Inc. $BXC

Catawba River Capital purchased a new stake in BlueLinx Holdings Inc. (NYSE:BXC) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 101,684 shares of the construction company’s stock, valued at approximately $7,431,000. BlueLinx makes up approximately 3.4% of Catawba River Capital’s investment portfolio, making the stock its 13th biggest holding. Catawba River Capital owned about 1.29% of BlueLinx as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BXC. Versant Capital Management Inc lifted its position in shares of BlueLinx by 86.2% during the 3rd quarter. Versant Capital Management Inc now owns 350 shares of the construction company’s stock worth $26,000 after buying an additional 162 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in BlueLinx by 5.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,637 shares of the construction company’s stock worth $266,000 after acquiring an additional 175 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in BlueLinx by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,863 shares of the construction company’s stock valued at $365,000 after acquiring an additional 220 shares during the last quarter. Royal Bank of Canada boosted its stake in BlueLinx by 4.3% in the first quarter. Royal Bank of Canada now owns 7,870 shares of the construction company’s stock valued at $590,000 after acquiring an additional 321 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in BlueLinx in the third quarter valued at $29,000. 90.83% of the stock is currently owned by hedge funds and other institutional investors.

BlueLinx Price Performance

Shares of BXC opened at $72.68 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 3.15 and a current ratio of 4.60. BlueLinx Holdings Inc. has a fifty-two week low of $52.71 and a fifty-two week high of $91.99. The firm has a 50-day simple moving average of $70.00 and a 200-day simple moving average of $70.55. The company has a market capitalization of $571.97 million, a price-to-earnings ratio of 42.75 and a beta of 1.62.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BXC. DA Davidson set a $68.00 target price on BlueLinx in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BlueLinx in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $88.67.

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.