Comerica Bank Acquires 11,493 Shares of BlueLinx Holdings Inc. $BXC

Comerica Bank increased its holdings in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 938.2% in the fourth quarter, HoldingsChannel reports. The firm owned 12,718 shares of the construction company’s stock after buying an additional 11,493 shares during the period. Comerica Bank’s holdings in BlueLinx were worth $781,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Versant Capital Management Inc grew its holdings in BlueLinx by 86.2% during the third quarter. Versant Capital Management Inc now owns 350 shares of the construction company’s stock worth $26,000 after purchasing an additional 162 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in BlueLinx by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,863 shares of the construction company’s stock worth $365,000 after purchasing an additional 220 shares during the period. Royal Bank of Canada grew its holdings in BlueLinx by 4.3% during the first quarter. Royal Bank of Canada now owns 7,870 shares of the construction company’s stock worth $590,000 after purchasing an additional 321 shares during the period. State of Alaska Department of Revenue bought a new position in BlueLinx during the third quarter worth about $29,000. Finally, Exchange Traded Concepts LLC grew its holdings in BlueLinx by 11.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,055 shares of the construction company’s stock worth $249,000 after purchasing an additional 418 shares during the period. Institutional investors own 90.83% of the company’s stock.

BlueLinx Trading Up 0.1%

Shares of BXC stock opened at $52.42 on Monday. The firm has a 50 day moving average price of $55.29 and a two-hundred day moving average price of $62.73. The company has a quick ratio of 2.51, a current ratio of 3.90 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $407.81 million, a PE ratio of -100.80 and a beta of 1.48. BlueLinx Holdings Inc. has a 12-month low of $44.78 and a 12-month high of $88.30.

BlueLinx (NYSE:BXC) last issued its quarterly earnings data on Tuesday, May 5th. The construction company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.93. The firm had revenue of $731.15 million during the quarter, compared to the consensus estimate of $714.84 million. BlueLinx had a negative net margin of 0.14% and a negative return on equity of 0.30%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wall Street Zen upgraded BlueLinx from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Benchmark cut their price objective on shares of BlueLinx from $83.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, February 27th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $71.50.

BlueLinx Company Profile

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.