Victory Capital Management Inc. Raises Stock Holdings in BlueLinx Holdings Inc. (NYSE:BXC)

Victory Capital Management Inc. increased its stake in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,229 shares of the construction company’s stock after purchasing an additional 963 shares during the quarter. Victory Capital Management Inc. owned approximately 0.36% of BlueLinx worth $2,907,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its stake in BlueLinx by 102.4% in the 4th quarter. Russell Investments Group Ltd. now owns 4,988 shares of the construction company’s stock worth $565,000 after acquiring an additional 2,524 shares during the period. BNP Paribas Financial Markets grew its position in shares of BlueLinx by 6.2% in the fourth quarter. BNP Paribas Financial Markets now owns 11,899 shares of the construction company’s stock valued at $1,348,000 after purchasing an additional 694 shares during the period. Dimensional Fund Advisors LP grew its position in shares of BlueLinx by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 554,458 shares of the construction company’s stock valued at $62,828,000 after purchasing an additional 17,891 shares during the period. Principal Financial Group Inc. increased its stake in BlueLinx by 23.5% in the fourth quarter. Principal Financial Group Inc. now owns 6,473 shares of the construction company’s stock valued at $733,000 after purchasing an additional 1,233 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in BlueLinx during the fourth quarter worth about $205,000. Hedge funds and other institutional investors own 90.83% of the company’s stock.

BlueLinx Stock Performance

NYSE BXC opened at $105.68 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.88 and a quick ratio of 3.37. BlueLinx Holdings Inc. has a 1-year low of $67.76 and a 1-year high of $132.67. The firm has a market capitalization of $915.40 million, a P/E ratio of 19.83 and a beta of 1.95. The business’s 50-day simple moving average is $102.87 and its 200-day simple moving average is $106.48.

BlueLinx (NYSE:BXC) last released its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.53 earnings per share (EPS) for the quarter. BlueLinx had a net margin of 1.26% and a return on equity of 12.14%. The company had revenue of $768.36 million during the quarter.

Analyst Ratings Changes

Several research firms have commented on BXC. DA Davidson lifted their price target on BlueLinx from $121.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, August 1st. StockNews.com upgraded shares of BlueLinx from a “hold” rating to a “buy” rating in a report on Tuesday, August 27th. Craig Hallum increased their price target on shares of BlueLinx from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Benchmark reissued a “buy” rating and set a $135.00 price objective on shares of BlueLinx in a research note on Wednesday, May 29th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, BlueLinx has a consensus rating of “Buy” and an average target price of $135.67.

About BlueLinx

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.