Denali Advisors LLC Trims Stock Holdings in BlueLinx Holdings Inc. (NYSE:BXC)

Denali Advisors LLC reduced its holdings in BlueLinx Holdings Inc. (NYSE:BXC) by 19.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 43,443 shares of the construction company’s stock after selling 10,218 shares during the quarter. BlueLinx makes up 1.7% of Denali Advisors LLC’s portfolio, making the stock its 3rd biggest position. Denali Advisors LLC’s holdings in BlueLinx were worth $5,658,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BXC. Charles Schwab Investment Management Inc. increased its holdings in shares of BlueLinx by 12.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 68,633 shares of the construction company’s stock worth $5,634,000 after acquiring an additional 7,860 shares during the period. Hsbc Holdings PLC acquired a new position in BlueLinx during the 3rd quarter valued at about $293,000. Qube Research & Technologies Ltd increased its stake in BlueLinx by 0.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 37,549 shares of the construction company’s stock valued at $3,082,000 after buying an additional 257 shares during the period. Gotham Asset Management LLC acquired a new position in shares of BlueLinx in the 3rd quarter worth approximately $324,000. Finally, Lazard Asset Management LLC grew its stake in shares of BlueLinx by 8.0% in the 3rd quarter. Lazard Asset Management LLC now owns 18,196 shares of the construction company’s stock worth $1,493,000 after purchasing an additional 1,344 shares during the last quarter. Institutional investors and hedge funds own 90.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BXC shares. Craig Hallum lowered their price objective on shares of BlueLinx from $130.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Benchmark reaffirmed a “buy” rating and issued a $135.00 price objective on shares of BlueLinx in a research note on Wednesday, May 29th.

BlueLinx Trading Down 0.4 %

Shares of BXC traded down $0.37 during midday trading on Wednesday, hitting $89.45. The stock had a trading volume of 40,245 shares, compared to its average volume of 79,223. BlueLinx Holdings Inc. has a fifty-two week low of $67.76 and a fifty-two week high of $132.67. The business has a 50-day simple moving average of $100.65 and a two-hundred day simple moving average of $111.55. The firm has a market cap of $774.64 million, a P/E ratio of 16.87 and a beta of 1.90. The company has a current ratio of 4.71, a quick ratio of 3.22 and a debt-to-equity ratio of 0.88.

BlueLinx (NYSE:BXC) last announced its earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter. BlueLinx had a net margin of 1.57% and a return on equity of 14.11%. The company had revenue of $726.24 million during the quarter.

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.