LSV Asset Management Reduces Stake in BlueLinx Holdings Inc. (NYSE:BXC)

LSV Asset Management reduced its stake in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 70.0% during the 4th quarter, HoldingsChannel reports. The fund owned 7,300 shares of the construction company’s stock after selling 17,000 shares during the period. LSV Asset Management’s holdings in BlueLinx were worth $746,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. FMR LLC increased its position in shares of BlueLinx by 10.5% during the 3rd quarter. FMR LLC now owns 1,545 shares of the construction company’s stock valued at $163,000 after purchasing an additional 147 shares during the last quarter. State Street Corp increased its position in 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 acquiring an additional 1,252 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of BlueLinx by 59.1% in the third quarter. Public Employees Retirement System of Ohio now owns 377 shares of the construction company’s stock valued at $40,000 after acquiring an additional 140 shares during the period. Barclays PLC lifted its holdings in shares of BlueLinx by 32.0% in the 3rd quarter. Barclays PLC now owns 45,229 shares of the construction company’s stock worth $4,767,000 after acquiring an additional 10,966 shares during the last quarter. Finally, SkyView Investment Advisors LLC boosted its stake in shares of BlueLinx by 2.1% during the 3rd quarter. SkyView Investment Advisors LLC now owns 9,101 shares of the construction company’s stock worth $959,000 after purchasing an additional 190 shares during the period. 90.83% of the stock is currently owned by hedge funds and other institutional investors.

BlueLinx Stock Down 0.3 %

Shares of NYSE BXC opened at $71.34 on Tuesday. The stock has a 50 day moving average price of $82.54 and a 200 day moving average price of $101.59. The firm has a market capitalization of $591.77 million, a price-to-earnings ratio of 11.62 and a beta of 1.82. BlueLinx Holdings Inc. has a 52-week low of $67.42 and a 52-week high of $134.79. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.26 and a current ratio of 4.85.

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

Analyst Ratings Changes

Several analysts have issued reports on the stock. DA Davidson decreased their price objective on shares of BlueLinx from $137.00 to $119.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Benchmark decreased 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. Loop Capital cut their price objective on BlueLinx from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday. Finally, StockNews.com downgraded BlueLinx from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, BlueLinx has an average rating of “Moderate Buy” and a consensus target price of $122.25.

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.