Franklin Resources Inc. Sells 147 Shares of BlueLinx Holdings Inc. (NYSE:BXC)

Franklin Resources Inc. trimmed its holdings in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 0.7% during the third quarter, HoldingsChannel reports. The fund owned 20,310 shares of the construction company’s stock after selling 147 shares during the quarter. Franklin Resources Inc.’s holdings in BlueLinx were worth $2,231,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BXC. Vestcor Inc increased its stake in shares of BlueLinx by 1,797.6% in the third quarter. Vestcor Inc now owns 12,714 shares of the construction company’s stock valued at $1,340,000 after buying an additional 12,044 shares during the period. Victory Capital Management Inc. increased its position in BlueLinx by 600.3% during the 3rd quarter. Victory Capital Management Inc. now owns 218,685 shares of the construction company’s stock valued at $23,054,000 after purchasing an additional 187,456 shares during the period. Cornercap Investment Counsel Inc. bought a new position in BlueLinx during the 2nd quarter worth approximately $495,000. Harbor Capital Advisors Inc. lifted its position in shares of BlueLinx by 151.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 137,193 shares of the construction company’s stock worth $14,463,000 after purchasing an additional 82,657 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of BlueLinx by 28.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 167,178 shares of the construction company’s stock valued at $17,624,000 after purchasing an additional 36,968 shares during the last quarter. 90.83% of the stock is currently owned by institutional investors and hedge funds.

BlueLinx Stock Performance

Shares of BXC stock opened at $106.57 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.26 and a current ratio of 4.58. The firm has a market cap of $893.16 million, a price-to-earnings ratio of 30.98 and a beta of 2.05. BlueLinx Holdings Inc. has a 52 week low of $87.67 and a 52 week high of $134.79. The firm’s 50-day simple moving average is $117.22 and its two-hundred day simple moving average is $107.16.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of BlueLinx from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, BlueLinx presently has a consensus rating of “Buy” and an average price target of $135.67.

BlueLinx Profile

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.