BlueLinx Holdings Inc. (NYSE:BXC) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its holdings in BlueLinx Holdings Inc. (NYSE:BXC) by 3.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 4,380 shares of the construction company’s stock after acquiring an additional 129 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.05% of BlueLinx worth $408,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Maverick Capital Ltd. purchased a new position in shares of BlueLinx during the second quarter worth $1,764,000. Squarepoint Ops LLC increased its position in shares of BlueLinx by 548.6% during the second quarter. Squarepoint Ops LLC now owns 22,644 shares of the construction company’s stock worth $2,108,000 after purchasing an additional 19,153 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of BlueLinx by 5.5% during the second quarter. Hsbc Holdings PLC now owns 14,104 shares of the construction company’s stock worth $1,305,000 after buying an additional 733 shares during the last quarter. Denali Advisors LLC grew its holdings in shares of BlueLinx by 53.8% during the second quarter. Denali Advisors LLC now owns 66,835 shares of the construction company’s stock worth $6,222,000 after buying an additional 23,392 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in BlueLinx by 10.0% in the 2nd quarter. Renaissance Technologies LLC now owns 75,100 shares of the construction company’s stock valued at $6,991,000 after purchasing an additional 6,800 shares in the last quarter. 90.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

BlueLinx Stock Up 3.5 %

Shares of BlueLinx stock opened at $112.80 on Thursday. The company has a current ratio of 4.88, a quick ratio of 3.37 and a debt-to-equity ratio of 0.88. The company has a fifty day moving average price of $101.58 and a 200 day moving average price of $104.21. The stock has a market cap of $977.07 million, a price-to-earnings ratio of 21.16 and a beta of 1.94. BlueLinx Holdings Inc. has a twelve month low of $67.76 and a twelve month high of $132.67.

BlueLinx (NYSE:BXC) last issued its earnings results on Tuesday, July 30th. The construction company reported $1.53 earnings per share (EPS) for the quarter. The business 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.