Intech Investment Management LLC Raises Stock Holdings in BlueLinx Holdings Inc. (NYSE:BXC)

Intech Investment Management LLC grew its stake in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 48.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,813 shares of the construction company’s stock after buying an additional 914 shares during the quarter. Intech Investment Management LLC’s holdings in BlueLinx were worth $287,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Quest Partners LLC raised its position in BlueLinx by 43.2% during the third quarter. Quest Partners LLC now owns 1,133 shares of the construction company’s stock valued at $119,000 after purchasing an additional 342 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of BlueLinx by 28.4% during 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 buying an additional 36,968 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in BlueLinx in the 3rd quarter worth approximately $869,000. FMR LLC boosted its stake in BlueLinx by 10.5% in the third quarter. FMR LLC now owns 1,545 shares of the construction company’s stock worth $163,000 after buying an additional 147 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in BlueLinx by 31.2% during the third quarter. BNP Paribas Financial Markets now owns 4,512 shares of the construction company’s stock valued at $476,000 after acquiring an additional 1,073 shares during the last quarter. 90.83% of the stock is owned by institutional investors.

BlueLinx Stock Performance

Shares of NYSE:BXC opened at $80.07 on Thursday. The company has a current ratio of 4.85, a quick ratio of 3.26 and a debt-to-equity ratio of 0.89. The company has a market cap of $664.17 million, a price-to-earnings ratio of 13.04 and a beta of 2.18. BlueLinx Holdings Inc. has a 12 month low of $73.01 and a 12 month high of $134.79. The company has a 50-day moving average price of $92.85 and a 200-day moving average price of $104.64.

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

Analysts Set New Price Targets

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

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.