Renaissance Technologies LLC Lowers Stock Position in BlueLinx Holdings Inc. $BXC

Renaissance Technologies LLC cut its stake in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 18.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,600 shares of the construction company’s stock after selling 8,500 shares during the quarter. Renaissance Technologies LLC owned 0.47% of BlueLinx worth $1,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sei Investments Co. raised its position in shares of BlueLinx by 92.1% during the 1st quarter. Sei Investments Co. now owns 59,592 shares of the construction company’s stock valued at $3,229,000 after buying an additional 28,571 shares in the last quarter. Dimensional Fund Advisors LP grew its position in BlueLinx by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 512,594 shares of the construction company’s stock worth $27,771,000 after acquiring an additional 2,008 shares in the last quarter. Heartland Advisors Inc. grew its position in BlueLinx by 22.8% in the first quarter. Heartland Advisors Inc. now owns 92,075 shares of the construction company’s stock worth $4,989,000 after acquiring an additional 17,075 shares in the last quarter. Fifth Third Bancorp bought a new position in BlueLinx in the first quarter valued at $689,000. Finally, River Road Asset Management LLC increased its stake in BlueLinx by 9.9% in the fourth quarter. River Road Asset Management LLC now owns 240,500 shares of the construction company’s stock valued at $14,774,000 after acquiring an additional 21,640 shares during the last quarter. Hedge funds and other institutional investors own 90.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on BXC shares. Benchmark lifted their price target on BlueLinx from $75.00 to $83.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. DA Davidson increased their price objective on BlueLinx from $65.00 to $84.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Wall Street Zen raised BlueLinx from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Weiss Ratings restated a “sell (d)” rating on shares of BlueLinx in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $83.50.

BlueLinx Price Performance

BXC stock opened at $89.83 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.59 and a current ratio of 4.01. BlueLinx Holdings Inc. has a 52 week low of $44.78 and a 52 week high of $93.80. The firm’s fifty day moving average is $59.49 and its 200 day moving average is $59.24. The firm has a market cap of $706.05 million, a P/E ratio of -359.30 and a beta of 1.44.

BlueLinx (NYSE:BXC) last posted its quarterly earnings results on Tuesday, August 4th. The construction company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.85. BlueLinx had a negative net margin of 0.06% and a positive return on equity of 0.13%. The business had revenue of $814.08 million during the quarter, compared to the consensus estimate of $793.72 million.

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.