BlueLinx (NYSE:BXC) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of BlueLinx (NYSE:BXC – Get Rating) in a report released on Thursday morning. The brokerage issued a hold rating on the construction company’s stock.

Separately, Benchmark boosted their price objective on shares of BlueLinx from $95.00 to $105.00 and gave the company a buy rating in a research report on Thursday, February 23rd.

BlueLinx Stock Down 5.1 %

Shares of BlueLinx stock opened at $72.81 on Thursday. The company has a current ratio of 5.11, a quick ratio of 2.81 and a debt-to-equity ratio of 0.95. The company’s fifty day simple moving average is $83.99 and its two-hundred day simple moving average is $73.49. The company has a market cap of $659.66 million, a P/E ratio of 2.38 and a beta of 1.65. BlueLinx has a 12-month low of $57.49 and a 12-month high of $100.01.

Institutional Trading of BlueLinx

A number of hedge funds and other institutional investors have recently modified their holdings of BXC. MetLife Investment Management LLC grew its position in shares of BlueLinx by 45.7% in the 1st quarter. MetLife Investment Management LLC now owns 5,061 shares of the construction company’s stock worth $364,000 after buying an additional 1,588 shares during the period. Panagora Asset Management Inc. grew its position in shares of BlueLinx by 7.9% in the 1st quarter. Panagora Asset Management Inc. now owns 23,579 shares of the construction company’s stock worth $1,695,000 after buying an additional 1,726 shares during the period. Rhumbline Advisers grew its position in shares of BlueLinx by 10.3% in the 1st quarter. Rhumbline Advisers now owns 9,560 shares of the construction company’s stock worth $687,000 after buying an additional 893 shares during the period. Dimensional Fund Advisors LP grew its position in shares of BlueLinx by 75.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 123,637 shares of the construction company’s stock worth $8,888,000 after buying an additional 53,217 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of BlueLinx by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 540,929 shares of the construction company’s stock worth $38,883,000 after buying an additional 38,787 shares during the period. 84.90% of the stock is owned by hedge funds and other institutional investors.

About BlueLinx

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BlueLinx Holdings, Inc engages in the distribution of building and industrial products. Its products include structural and specialty. The Structural products consist of plywood, oriented strand board, rebar and remesh, lumber, spruce and other wood used for structural support, walls, and flooring in construction projects.