Caisse Des Depots ET Consignations Makes New Investment in BlueLinx Holdings Inc. (NYSE:BXC)

Caisse Des Depots ET Consignations acquired a new stake in shares of BlueLinx Holdings Inc. (NYSE:BXC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 10,649 shares of the construction company’s stock, valued at approximately $1,088,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. River Road Asset Management LLC purchased a new position in BlueLinx during the fourth quarter valued at $7,541,000. 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 worth $17,624,000 after buying an additional 36,968 shares during the period. Raymond James Financial Inc. purchased a new position in shares of BlueLinx during the 4th quarter valued at about $3,451,000. American Century Companies Inc. lifted its position in shares of BlueLinx by 8.4% during the 4th quarter. American Century Companies Inc. now owns 311,567 shares of the construction company’s stock valued at $31,830,000 after buying an additional 24,087 shares in the last quarter. Finally, Meros Investment Management LP increased its holdings in BlueLinx by 54.5% in the 3rd quarter. Meros Investment Management LP now owns 60,799 shares of the construction company’s stock worth $6,409,000 after acquiring an additional 21,455 shares in the last quarter. 90.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

BlueLinx Price Performance

BXC stock opened at $80.32 on Friday. 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 company’s fifty day moving average price is $92.32 and its 200-day moving average price is $104.47. BlueLinx Holdings Inc. has a one year low of $73.01 and a one year high of $134.79. The company has a market capitalization of $666.27 million, a PE ratio of 13.08 and a beta of 2.18.

BlueLinx (NYSE:BXC) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). BlueLinx had a return on equity of 7.50% and a net margin of 1.80%. The company had revenue of $710.64 million during the quarter, compared to analysts’ expectations of $700.66 million.

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.