Federated Hermes Inc. Reduces Stock Holdings in BlueLinx Holdings Inc. (NYSE:BXC)

Federated Hermes Inc. reduced its stake in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 40.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,168 shares of the construction company’s stock after selling 13,970 shares during the quarter. Federated Hermes Inc. owned approximately 0.23% of BlueLinx worth $1,877,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. nVerses Capital LLC raised its stake in BlueLinx by 200.0% in the second quarter. nVerses Capital LLC now owns 300 shares of the construction company’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Innealta Capital LLC bought a new position in shares of BlueLinx in the 2nd quarter worth approximately $39,000. Allspring Global Investments Holdings LLC lifted its stake in shares of BlueLinx by 305.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 564 shares of the construction company’s stock valued at $73,000 after purchasing an additional 425 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of BlueLinx during the second quarter valued at approximately $70,000. Finally, Capstone Investment Advisors LLC purchased a new stake in BlueLinx in the first quarter worth $218,000. 90.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BXC shares. Craig Hallum boosted their target price on shares of BlueLinx from $125.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, August 1st. StockNews.com upgraded shares of BlueLinx from a “hold” rating to a “buy” rating in a report on Tuesday, August 27th. DA Davidson lifted their target price on shares of BlueLinx from $121.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Benchmark restated a “buy” rating and issued a $135.00 price target on shares of BlueLinx in a research note on Wednesday, May 29th. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $135.67.

BlueLinx Price Performance

NYSE BXC opened at $107.80 on Friday. BlueLinx Holdings Inc. has a one year low of $67.76 and a one year high of $132.67. The stock has a 50-day moving average of $103.58 and a 200 day moving average of $106.38. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.37 and a current ratio of 4.88. The company has a market capitalization of $933.76 million, a price-to-earnings ratio of 20.23 and a beta of 1.95.

BlueLinx (NYSE:BXC) last released its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.53 earnings per share for the quarter. BlueLinx had a net margin of 1.26% and a return on equity of 12.14%. The firm had revenue of $768.36 million during the quarter.

BlueLinx Company 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.