nVerses Capital LLC Increases Stock Position in BlueLinx Holdings Inc. (NYSE:BXC)

nVerses Capital LLC lifted its holdings in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 100.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 600 shares of the construction company’s stock after buying an additional 300 shares during the period. nVerses Capital LLC’s holdings in BlueLinx were worth $63,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. grew its position in BlueLinx by 273.4% during the second quarter. Harbor Capital Advisors Inc. now owns 54,536 shares of the construction company’s stock worth $5,077,000 after buying an additional 39,930 shares during the period. Meros Investment Management LP acquired a new stake in shares of BlueLinx in the 2nd quarter worth approximately $3,663,000. Lord Abbett & CO. LLC purchased a new position in BlueLinx in the 1st quarter valued at approximately $4,195,000. American Century Companies Inc. boosted its position in BlueLinx by 12.4% during the second quarter. American Century Companies Inc. now owns 268,059 shares of the construction company’s stock worth $24,954,000 after purchasing an additional 29,582 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of BlueLinx by 70.9% during the 1st 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 last quarter. 90.83% of the stock is owned by institutional investors and hedge funds.

BlueLinx Price Performance

Shares of NYSE BXC opened at $102.97 on Tuesday. The business has a 50 day moving average price of $102.34 and a two-hundred day moving average price of $103.65. BlueLinx Holdings Inc. has a fifty-two week low of $67.76 and a fifty-two week high of $132.67. The firm has a market cap of $891.93 million, a PE ratio of 19.32 and a beta of 1.94. 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 (NYSE:BXC) last issued its quarterly earnings results on Tuesday, July 30th. The construction company reported $1.53 earnings per share (EPS) for the quarter. BlueLinx had a net margin of 1.26% and a return on equity of 12.14%. The business had revenue of $768.36 million during the quarter.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BXC shares. StockNews.com upgraded BlueLinx from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. DA Davidson increased their price objective on shares of BlueLinx from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. 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 research report on Thursday, August 1st. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $135.67.

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.