ExodusPoint Capital Management LP Makes New $589,000 Investment in BlueLinx Holdings Inc. (NYSE:BXC)

ExodusPoint Capital Management LP purchased a new position in shares of BlueLinx Holdings Inc. (NYSE:BXC) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,761 shares of the construction company’s stock, valued at approximately $589,000. ExodusPoint Capital Management LP owned approximately 0.07% of BlueLinx at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BXC. Public Employees Retirement System of Ohio grew its stake in BlueLinx by 59.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 377 shares of the construction company’s stock worth $40,000 after acquiring an additional 140 shares during the period. PNC Financial Services Group Inc. acquired a new stake in shares of BlueLinx during the fourth quarter worth $61,000. AlphaQuest LLC grew its position 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 purchasing an additional 322 shares during the period. FMR LLC increased its stake in BlueLinx by 10.5% in the third quarter. FMR LLC now owns 1,545 shares of the construction company’s stock valued at $163,000 after purchasing an additional 147 shares during the last quarter. Finally, Bailard Inc. acquired a new position in BlueLinx in the fourth quarter valued at $245,000. Institutional investors and hedge funds own 90.83% of the company’s stock.

Analysts Set New Price Targets

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

BlueLinx Stock Performance

NYSE BXC opened at $71.43 on Friday. The business’s 50-day simple moving average is $83.23 and its 200-day simple moving average is $101.85. The firm has a market capitalization of $592.51 million, a P/E ratio of 11.63 and a beta of 1.82. BlueLinx Holdings Inc. has a 1-year low of $67.42 and a 1-year high of $134.79. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.85 and a quick ratio of 3.26.

BlueLinx (NYSE:BXC) last released its quarterly earnings data 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). BlueLinx had a return on equity of 7.50% and a net margin of 1.80%. The business had revenue of $710.64 million for the quarter, compared to analysts’ expectations of $700.66 million.

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.