BlueLinx Holdings Inc. (NYSE:BXC) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its position in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,493 shares of the construction company’s stock after acquiring an additional 957 shares during the period. Massachusetts Financial Services Co. MA owned about 0.33% of BlueLinx worth $2,652,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BXC. Dimensional Fund Advisors LP boosted its stake 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. Vanguard Group Inc. boosted its holdings in BlueLinx by 1.1% in the first quarter. Vanguard Group Inc. now owns 501,333 shares of the construction company’s stock valued at $65,294,000 after purchasing an additional 5,277 shares during the period. American Century Companies Inc. grew its stake in BlueLinx by 12.4% during the 2nd quarter. American Century Companies Inc. now owns 268,059 shares of the construction company’s stock worth $24,954,000 after purchasing an additional 29,582 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in BlueLinx by 2.1% during the 1st quarter. Bridgeway Capital Management LLC now owns 145,687 shares of the construction company’s stock worth $18,974,000 after purchasing an additional 2,975 shares during the period. Finally, Wellington Management Group LLP raised its position in BlueLinx by 4.3% in the 4th quarter. Wellington Management Group LLP now owns 140,142 shares of the construction company’s stock valued at $15,879,000 after purchasing an additional 5,842 shares in the last quarter. 90.83% of the stock is currently owned by hedge funds and other institutional investors.

BlueLinx Stock Down 2.4 %

BlueLinx stock opened at $107.80 on Friday. The company has a market capitalization of $933.76 million, a P/E ratio of 20.23 and a beta of 1.95. BlueLinx Holdings Inc. has a fifty-two week low of $67.76 and a fifty-two week high of $132.67. The stock has a 50-day simple moving average of $103.58 and a 200-day simple moving average of $106.29. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.37 and a current ratio of 4.88.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. DA Davidson upped their target price on shares of BlueLinx from $121.00 to $137.00 and gave the stock a “buy” rating in a research note 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. Benchmark reiterated a “buy” rating and set a $135.00 target price on shares of BlueLinx in a research note on Wednesday, May 29th. Finally, Craig Hallum increased their price objective on BlueLinx from $125.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, BlueLinx has an average 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.