BlueLinx (NYSE:BXC) Shares Down 8.2% After Earnings Miss

BlueLinx Holdings Inc. (NYSE:BXC) shares traded down 8.2% during trading on Wednesday following a dissappointing earnings announcement. The stock traded as low as $91.46 and last traded at $91.50. 6,143 shares changed hands during trading, a decline of 89% from the average session volume of 55,601 shares. The stock had previously closed at $99.70.

The construction company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $710.64 million during the quarter, compared to the consensus estimate of $700.66 million. BlueLinx had a net margin of 1.01% and a return on equity of 10.44%.

Institutional Trading of BlueLinx

Institutional investors and hedge funds have recently bought and sold shares of the business. Vestcor Inc raised its stake in 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 stake in shares of BlueLinx by 600.3% during the third quarter. Victory Capital Management Inc. now owns 218,685 shares of the construction company’s stock worth $23,054,000 after purchasing an additional 187,456 shares during the period. JPMorgan Chase & Co. increased its stake in shares of BlueLinx by 5.0% during the third quarter. JPMorgan Chase & Co. now owns 92,144 shares of the construction company’s stock worth $9,714,000 after purchasing an additional 4,363 shares during the period. State Street Corp increased its stake in shares of BlueLinx by 0.6% during the third quarter. State Street Corp now owns 198,003 shares of the construction company’s stock worth $20,873,000 after purchasing an additional 1,252 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of BlueLinx by 28.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 167,178 shares of the construction company’s stock worth $17,624,000 after purchasing an additional 36,968 shares during the period. Institutional investors own 90.83% of the company’s stock.

BlueLinx Stock Performance

The company has a market cap of $763.63 million, a P/E ratio of 26.46 and a beta of 2.04. The company has a quick ratio of 3.26, a current ratio of 4.58 and a debt-to-equity ratio of 0.88. The stock has a 50 day moving average price of $106.09 and a two-hundred day moving average price of $107.75.

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.