12,718 Shares in BlueLinx Holdings Inc. $BXC Purchased by Fifth Third Bancorp

Fifth Third Bancorp bought a new position in shares of BlueLinx Holdings Inc. (NYSE:BXC) during the 1st quarter, HoldingsChannel reports. The firm bought 12,718 shares of the construction company’s stock, valued at approximately $689,000.

A number of other institutional investors have also added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in BlueLinx by 1.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,788 shares of the construction company’s stock valued at $847,000 after purchasing an additional 154 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of BlueLinx by 4.7% in the 1st 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. State of Wyoming boosted its stake in shares of BlueLinx by 19.5% during the fourth quarter. State of Wyoming now owns 1,456 shares of the construction company’s stock valued at $89,000 after purchasing an additional 238 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of BlueLinx by 0.9% during the fourth quarter. Deutsche Bank AG now owns 37,272 shares of the construction company’s stock valued at $2,290,000 after purchasing an additional 320 shares in the last quarter. Finally, Royal Bank of Canada increased 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 valued at $590,000 after buying an additional 321 shares during the period. Hedge funds and other institutional investors own 90.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on BXC. Weiss Ratings reissued a “sell (d)” rating on shares of BlueLinx in a research note on Wednesday, May 20th. DA Davidson reaffirmed a “neutral” rating and set a $65.00 target price on shares of BlueLinx in a research report on Wednesday, July 15th. Finally, Wall Street Zen upgraded BlueLinx from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $70.00.

BlueLinx Price Performance

Shares of BXC opened at $58.20 on Tuesday. The company has a 50 day moving average of $55.05 and a two-hundred day moving average of $59.47. The company has a quick ratio of 2.51, a current ratio of 3.90 and a debt-to-equity ratio of 0.96. BlueLinx Holdings Inc. has a twelve month low of $44.78 and a twelve month high of $87.88. The company has a market cap of $452.93 million, a price-to-earnings ratio of -111.93 and a beta of 1.41.

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

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.