Federated Hermes Inc. Cuts Position in BlueLinx Holdings Inc. (NYSE:BXC)

Federated Hermes Inc. decreased its position in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 23.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,956 shares of the construction company’s stock after selling 11,878 shares during the period. Federated Hermes Inc. owned approximately 0.43% of BlueLinx worth $4,301,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new stake in shares of BlueLinx in the 3rd quarter worth approximately $47,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in BlueLinx by 19.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,410 shares of the construction company’s stock worth $160,000 after purchasing an additional 230 shares during the last quarter. Raymond James & Associates purchased a new stake in BlueLinx during the third quarter valued at about $205,000. Quadrature Capital Ltd purchased a new stake in BlueLinx during the third quarter valued at about $240,000. Finally, Mackenzie Financial Corp bought a new position in shares of BlueLinx during the fourth quarter valued at about $261,000. Institutional investors own 90.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BXC shares. TheStreet lowered BlueLinx from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Benchmark increased their price objective on BlueLinx from $100.00 to $144.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd.

Insider Activity

In related news, Director Mitchell B. Lewis sold 314 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $119.09, for a total value of $37,394.26. Following the completion of the sale, the director now owns 38,828 shares of the company’s stock, valued at $4,624,026.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BlueLinx news, Director Mitchell B. Lewis sold 5,352 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $116.33, for a total transaction of $622,598.16. Following the transaction, the director now owns 33,476 shares in the company, valued at approximately $3,894,263.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mitchell B. Lewis sold 314 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $119.09, for a total value of $37,394.26. Following the completion of the transaction, the director now owns 38,828 shares of the company’s stock, valued at approximately $4,624,026.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,570 shares of company stock valued at $1,000,196. Company insiders own 4.50% of the company’s stock.

BlueLinx Price Performance

BXC stock opened at $112.94 on Friday. The stock has a market capitalization of $976.93 million, a price-to-earnings ratio of 21.43 and a beta of 1.90. The firm’s 50-day moving average price is $120.87 and its two-hundred day moving average price is $105.62. The company has a current ratio of 5.13, a quick ratio of 3.55 and a debt-to-equity ratio of 0.90. BlueLinx Holdings Inc. has a 12-month low of $66.58 and a 12-month high of $132.67.

BlueLinx (NYSE:BXC) last posted its earnings results on Tuesday, February 20th. The construction company reported $2.64 earnings per share (EPS) for the quarter. The company had revenue of $712.53 million for the quarter. BlueLinx had a return on equity of 14.81% and a net margin of 1.55%.

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.