American Century Companies Inc. Has $20.41 Million Position in BlueLinx Holdings Inc. $BXC

American Century Companies Inc. cut its position in BlueLinx Holdings Inc. (NYSE:BXC) by 12.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 279,262 shares of the construction company’s stock after selling 40,204 shares during the quarter. American Century Companies Inc. owned 3.55% of BlueLinx worth $20,408,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Catawba River Capital bought a new stake in BlueLinx during the 3rd quarter worth approximately $7,431,000. Mutual Advisors LLC raised its stake in shares of BlueLinx by 87.3% during the third quarter. Mutual Advisors LLC now owns 16,280 shares of the construction company’s stock valued at $1,167,000 after acquiring an additional 7,589 shares during the last quarter. Third Avenue Management LLC raised its stake in shares of BlueLinx by 55.2% during the second quarter. Third Avenue Management LLC now owns 46,357 shares of the construction company’s stock valued at $3,448,000 after acquiring an additional 16,488 shares during the last quarter. Towle & Co. lifted its holdings in shares of BlueLinx by 41.3% during the third quarter. Towle & Co. now owns 78,186 shares of the construction company’s stock worth $5,714,000 after purchasing an additional 22,855 shares during the period. Finally, Allianz Asset Management GmbH lifted its holdings in shares of BlueLinx by 150.5% during the third quarter. Allianz Asset Management GmbH now owns 26,445 shares of the construction company’s stock worth $1,933,000 after purchasing an additional 15,887 shares during the period. Institutional investors and hedge funds own 90.83% of the company’s stock.

Wall Street Analysts Forecast Growth

BXC has been the subject of a number of recent research reports. Benchmark decreased their price objective on BlueLinx from $83.00 to $75.00 and set a “buy” rating for the company in a report on Friday, February 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BlueLinx in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $86.00.

BlueLinx Price Performance

BXC stock opened at $58.47 on Tuesday. The company has a quick ratio of 3.12, a current ratio of 4.66 and a debt-to-equity ratio of 0.96. The firm has a market cap of $460.19 million, a price-to-earnings ratio of -5,847,400.00 and a beta of 1.62. The company’s fifty day simple moving average is $70.39 and its 200 day simple moving average is $69.60. BlueLinx Holdings Inc. has a 12-month low of $52.71 and a 12-month high of $88.30.

BlueLinx (NYSE:BXC) last issued its quarterly earnings results on Tuesday, February 24th. The construction company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.05). BlueLinx had a negative return on equity of 0.23% and a net margin of 0.01%.The business had revenue of $715.80 million for the quarter, compared to analyst estimates of $703.84 million.

About BlueLinx

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.