Public Employees Retirement System of Ohio Invests $788,000 in BlueLinx Holdings Inc. $BXC

Public Employees Retirement System of Ohio bought a new position in BlueLinx Holdings Inc. (NYSE:BXC) during the second quarter, Holdings Channel reports. The fund bought 12,729 shares of the construction company’s stock, valued at approximately $788,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Summit Securities Group LLC purchased a new stake in shares of BlueLinx during the fourth quarter valued at $31,000. Tower Research Capital LLC TRC increased its stake in BlueLinx by 114.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 792 shares of the construction company’s stock worth $59,000 after purchasing an additional 422 shares in the last quarter. State of Wyoming increased its stake in BlueLinx by 19.5% in the 4th quarter. State of Wyoming now owns 1,456 shares of the construction company’s stock worth $89,000 after purchasing an additional 238 shares in the last quarter. Comerica Bank raised its holdings in BlueLinx by 5,468.2% during the 3rd quarter. Comerica Bank now owns 1,225 shares of the construction company’s stock worth $90,000 after buying an additional 1,203 shares during the period. Finally, Inceptionr LLC purchased a new stake in BlueLinx during the third quarter valued at about $230,000. 90.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BXC has been the topic of several analyst reports. Wall Street Zen raised shares of BlueLinx from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Benchmark upped their price target on shares of BlueLinx from $75.00 to $83.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. DA Davidson raised their price objective on shares of BlueLinx from $65.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of BlueLinx in a research report on Monday, August 17th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, BlueLinx has an average rating of “Hold” and a consensus target price of $83.50.

BlueLinx Trading Down 1.9%

Shares of NYSE BXC opened at $79.63 on Thursday. BlueLinx Holdings Inc. has a one year low of $44.78 and a one year high of $93.80. The firm has a market capitalization of $625.86 million, a PE ratio of -318.49 and a beta of 1.45. The company has a current ratio of 4.01, a quick ratio of 2.59 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average price of $70.29 and a two-hundred day moving average price of $60.44.

BlueLinx (NYSE:BXC) last issued its earnings results on Tuesday, August 4th. The construction company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.85. The company had revenue of $814.08 million for the quarter, compared to the consensus estimate of $793.72 million. BlueLinx had a positive return on equity of 0.13% and a negative net margin of 0.06%.

About BlueLinx

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.