The Manufacturers Life Insurance Company Lowers Holdings in BlueLinx Holdings Inc. (NYSE:BXC)

The Manufacturers Life Insurance Company decreased its stake in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 29.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,081 shares of the construction company’s stock after selling 1,299 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in BlueLinx were worth $325,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd purchased a new position in BlueLinx during the third quarter valued at $869,000. Algert Global LLC raised its stake in shares of BlueLinx by 13.4% in the third quarter. Algert Global LLC now owns 42,094 shares of the construction company’s stock worth $4,438,000 after purchasing an additional 4,980 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of BlueLinx by 28.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 167,178 shares of the construction company’s stock worth $17,624,000 after purchasing an additional 36,968 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of BlueLinx in the third quarter worth $200,000. Finally, Meeder Asset Management Inc. raised its stake in shares of BlueLinx by 50.1% in the third quarter. Meeder Asset Management Inc. now owns 1,135 shares of the construction company’s stock worth $120,000 after purchasing an additional 379 shares during the last quarter. Hedge funds and other institutional investors own 90.83% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded BlueLinx from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $135.67.

BlueLinx Stock Down 2.5 %

BXC stock opened at $118.79 on Monday. BlueLinx Holdings Inc. has a 1-year low of $87.67 and a 1-year high of $134.79. The business has a fifty day moving average price of $117.17 and a 200-day moving average price of $106.64. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.58 and a quick ratio of 3.26. The stock has a market capitalization of $995.58 million, a P/E ratio of 34.53 and a beta of 2.05.

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.