HighTower Advisors LLC Makes New $1.06 Million Investment in BlueLinx Holdings Inc. (NYSE:BXC)

HighTower Advisors LLC bought a new stake in BlueLinx Holdings Inc. (NYSE:BXC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,328 shares of the construction company’s stock, valued at approximately $1,055,000.

Several other institutional investors and hedge funds have also modified their holdings of BXC. River Road Asset Management LLC bought a new position in BlueLinx in the 4th quarter valued at $7,541,000. AlphaQuest LLC increased its stake in shares of BlueLinx by 28.4% in the fourth quarter. AlphaQuest LLC now owns 1,455 shares of the construction company’s stock valued at $149,000 after buying an additional 322 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in shares of BlueLinx in the fourth quarter valued at about $61,000. Raymond James Financial Inc. acquired a new position in BlueLinx during the 4th quarter worth about $3,451,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in BlueLinx by 19.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 199,871 shares of the construction company’s stock worth $20,419,000 after acquiring an additional 32,693 shares during the last quarter. 90.83% of the stock is owned by institutional investors and hedge funds.

BlueLinx Price Performance

Shares of BXC stock opened at $80.07 on Thursday. The firm’s 50 day moving average price is $92.85 and its two-hundred day moving average price is $104.64. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.26 and a current ratio of 4.85. BlueLinx Holdings Inc. has a 52-week low of $73.01 and a 52-week high of $134.79. The stock has a market cap of $664.17 million, a PE ratio of 13.04 and a beta of 2.18.

BlueLinx (NYSE:BXC) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $710.64 million during the quarter, compared to the consensus estimate of $700.66 million. BlueLinx had a return on equity of 7.50% and a net margin of 1.80%.

Wall Street Analysts Forecast Growth

BXC has been the subject of a number of research analyst reports. StockNews.com downgraded shares of BlueLinx from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Loop Capital dropped their price objective on shares of BlueLinx from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Benchmark decreased their price objective on BlueLinx from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Finally, DA Davidson dropped their target price on BlueLinx from $137.00 to $119.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $123.50.

BlueLinx Company 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.