LSV Asset Management Boosts Stock Holdings in BlueLinx Holdings Inc. $BXC

LSV Asset Management raised its holdings in BlueLinx Holdings Inc. (NYSE:BXC) by 78.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,400 shares of the construction company’s stock after purchasing an additional 20,900 shares during the quarter. LSV Asset Management owned 0.60% of BlueLinx worth $3,464,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in shares of BlueLinx by 4.3% in the 1st quarter. Royal Bank of Canada now owns 7,870 shares of the construction company’s stock valued at $590,000 after buying an additional 321 shares during the period. AQR Capital Management LLC grew its holdings in BlueLinx by 24.6% during the first quarter. AQR Capital Management LLC now owns 48,257 shares of the construction company’s stock worth $3,618,000 after acquiring an additional 9,538 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in BlueLinx by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,863 shares of the construction company’s stock worth $365,000 after acquiring an additional 220 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in BlueLinx in the second quarter valued at $270,000. Finally, Allianz Asset Management GmbH purchased a new stake in shares of BlueLinx during the 2nd quarter worth $785,000. Institutional investors and hedge funds own 90.83% of the company’s stock.

Wall Street Analysts Forecast Growth

BXC has been the subject of several recent analyst reports. DA Davidson set a $68.00 price objective on shares of BlueLinx in a research note on Thursday, November 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of BlueLinx in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $88.67.

BlueLinx Price Performance

Shares of NYSE BXC opened at $74.30 on Monday. The company has a current ratio of 4.60, a quick ratio of 3.15 and a debt-to-equity ratio of 0.96. The company’s 50-day moving average price is $68.93 and its 200 day moving average price is $70.50. BlueLinx Holdings Inc. has a 52 week low of $52.71 and a 52 week high of $103.10. The stock has a market cap of $584.76 million, a price-to-earnings ratio of 43.71 and a beta of 1.62.

BlueLinx Company Profile

BlueLinx Corporation is a leading distributor of building products in the United States, serving professional builders, contractors and industrial customers. The company offers a comprehensive portfolio that includes lumber, engineered wood products, plywood, oriented strand board, siding, railing, millwork and specialty construction materials. Through its nationwide network of distribution centers, BlueLinx provides inventory management, delivery and supply-chain solutions designed to help customers streamline operations and reduce carrying costs.

Founded in 2004 as a spin-off from Georgia-Pacific’s distribution business, BlueLinx has developed a broad product line that spans both residential and commercial construction markets.