Divisadero Street Capital Management LP Acquires 5,545 Shares of BlueLinx Holdings Inc. (NYSE:BXC)

Divisadero Street Capital Management LP increased its holdings in BlueLinx Holdings Inc. (NYSE:BXC) by 9.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,545 shares of the construction company’s stock after buying an additional 5,545 shares during the period. BlueLinx accounts for 0.8% of Divisadero Street Capital Management LP’s holdings, making the stock its 28th largest position. Divisadero Street Capital Management LP owned 0.78% of BlueLinx worth $6,696,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BXC. Barclays PLC increased its stake in shares of BlueLinx by 32.0% in the 3rd quarter. Barclays PLC now owns 45,229 shares of the construction company’s stock valued at $4,767,000 after purchasing an additional 10,966 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in BlueLinx by 5.0% in the third quarter. JPMorgan Chase & Co. now owns 92,144 shares of the construction company’s stock valued at $9,714,000 after buying an additional 4,363 shares in the last quarter. CWA Asset Management Group LLC grew its position in BlueLinx by 24.7% in the fourth quarter. CWA Asset Management Group LLC now owns 6,518 shares of the construction company’s stock valued at $666,000 after acquiring an additional 1,291 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in BlueLinx by 1.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 138,552 shares of the construction company’s stock worth $14,154,000 after acquiring an additional 1,359 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC lifted its holdings in shares of BlueLinx by 4.0% in the fourth quarter. Hunter Perkins Capital Management LLC now owns 5,225 shares of the construction company’s stock worth $534,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 90.83% of the company’s stock.

Wall Street Analysts Forecast Growth

BXC has been the topic of several research reports. DA Davidson decreased their price target on shares of BlueLinx from $119.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. StockNews.com cut shares of BlueLinx from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Loop Capital lowered their price target on shares of BlueLinx from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, Benchmark cut their price objective on BlueLinx from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $110.00.

BlueLinx Stock Performance

Shares of BXC opened at $64.81 on Wednesday. The firm’s fifty day simple moving average is $74.55 and its two-hundred day simple moving average is $97.44. BlueLinx Holdings Inc. has a 12 month low of $63.55 and a 12 month high of $134.79. 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 stock has a market capitalization of $519.87 million, a P/E ratio of 10.55 and a beta of 1.99.

BlueLinx (NYSE:BXC) last released its earnings results on Tuesday, February 18th. The construction company reported $0.51 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 analyst estimates of $700.66 million.

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.