Exchange Traded Concepts LLC Sells 828 Shares of BlueLinx Holdings Inc. (NYSE:BXC)

Exchange Traded Concepts LLC reduced its position in BlueLinx Holdings Inc. (NYSE:BXC) by 23.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,777 shares of the construction company’s stock after selling 828 shares during the quarter. Exchange Traded Concepts LLC’s holdings in BlueLinx were worth $293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Lord Abbett & CO. LLC bought a new position in shares of BlueLinx in the first quarter worth approximately $4,195,000. GSA Capital Partners LLP bought a new position in shares of BlueLinx in the first quarter worth approximately $1,501,000. Cornercap Investment Counsel Inc. bought a new position in shares of BlueLinx in the second quarter worth approximately $495,000. SG Americas Securities LLC bought a new position in shares of BlueLinx in the first quarter worth approximately $1,076,000. Finally, Empowered Funds LLC boosted its position in shares of BlueLinx by 70.9% in the first quarter. Empowered Funds LLC now owns 62,627 shares of the construction company’s stock worth $8,157,000 after purchasing an additional 25,972 shares during the period. 90.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BXC has been the topic of several research analyst reports. DA Davidson boosted their target price on shares of BlueLinx from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. StockNews.com raised shares of BlueLinx from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Finally, Craig Hallum boosted their target price on shares of BlueLinx from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $135.67.

BlueLinx Price Performance

BlueLinx stock opened at $109.54 on Monday. The company has a market cap of $948.84 million, a price-to-earnings ratio of 20.55 and a beta of 1.94. The firm’s fifty day moving average is $102.15 and its 200 day moving average is $103.81. The company has a quick ratio of 3.37, a current ratio of 4.88 and a debt-to-equity ratio of 0.88. BlueLinx Holdings Inc. has a 52-week low of $67.76 and a 52-week high of $132.67.

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

About BlueLinx

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.