Denali Advisors LLC Has $5.99 Million Holdings in BlueLinx Holdings Inc. (NYSE:BXC)

Denali Advisors LLC trimmed its stake in BlueLinx Holdings Inc. (NYSE:BXC) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,618 shares of the construction company’s stock after selling 2,625 shares during the period. Denali Advisors LLC owned about 0.70% of BlueLinx worth $5,988,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vestcor Inc lifted its stake in shares of 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. lifted its position in shares of BlueLinx by 600.3% in the 3rd quarter. Victory Capital Management Inc. now owns 218,685 shares of the construction company’s stock worth $23,054,000 after acquiring an additional 187,456 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of BlueLinx by 5.0% during the 3rd 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 in the last quarter. State Street Corp increased its position 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 valued at $20,873,000 after purchasing an additional 1,252 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of BlueLinx by 28.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 167,178 shares of the construction company’s stock valued at $17,624,000 after purchasing an additional 36,968 shares in the last quarter. 90.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

BlueLinx Stock Up 2.4 %

NYSE:BXC opened at $84.00 on Wednesday. The company has a market cap of $696.78 million, a price-to-earnings ratio of 13.68 and a beta of 2.04. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.26 and a current ratio of 4.85. The stock’s fifty day moving average price is $102.73 and its two-hundred day moving average price is $107.36. BlueLinx Holdings Inc. has a 52-week low of $80.30 and a 52-week high of $134.79.

BlueLinx (NYSE:BXC) last issued its quarterly earnings results 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). The firm had revenue of $710.64 million for the quarter, compared to analyst estimates of $700.66 million. BlueLinx had a net margin of 1.80% and a return on equity of 7.50%.

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.