HighTower Advisors LLC Invests $1.06 Million in BlueLinx Holdings Inc. (NYSE:BXC)

HighTower Advisors LLC acquired a new stake in BlueLinx Holdings Inc. (NYSE:BXC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 10,328 shares of the construction company’s stock, valued at approximately $1,055,000. HighTower Advisors LLC owned approximately 0.12% of BlueLinx as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BXC. Vestcor Inc grew its position in shares of BlueLinx by 1,797.6% in the third quarter. Vestcor Inc now owns 12,714 shares of the construction company’s stock valued at $1,340,000 after purchasing an additional 12,044 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in BlueLinx by 5.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 92,144 shares of the construction company’s stock valued at $9,714,000 after buying an additional 4,363 shares during the last quarter. State Street Corp increased its position in BlueLinx by 0.6% in the 3rd quarter. State Street Corp now owns 198,003 shares of the construction company’s stock worth $20,873,000 after buying an additional 1,252 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of BlueLinx by 28.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 167,178 shares of the construction company’s stock worth $17,624,000 after buying an additional 36,968 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of BlueLinx in the third quarter valued at approximately $869,000. 90.83% of the stock is currently owned by institutional investors and hedge funds.

BlueLinx Trading Down 1.5 %

Shares of BXC stock opened at $80.07 on Thursday. The firm has a fifty day moving average of $92.85 and a 200-day moving average of $104.64. The stock has a market cap of $664.17 million, a price-to-earnings ratio of 13.04 and a beta of 2.18. BlueLinx Holdings Inc. has a 52-week low of $73.01 and a 52-week high of $134.79. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.26 and a current ratio of 4.85.

BlueLinx (NYSE:BXC) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $710.64 million during the quarter, compared to analyst estimates of $700.66 million. BlueLinx had a return on equity of 7.50% and a net margin of 1.80%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BXC shares. DA Davidson dropped their target price on shares of BlueLinx from $137.00 to $119.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Benchmark cut their price objective on shares of BlueLinx from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Loop Capital reduced their target price on shares of BlueLinx from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Finally, StockNews.com lowered BlueLinx from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.50.

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.