Denali Advisors LLC Has $5.99 Million Stock Position in BlueLinx Holdings Inc. (NYSE:BXC)

Denali Advisors LLC reduced its stake in BlueLinx Holdings Inc. (NYSE:BXC) by 4.3% during the 4th quarter, Holdings Channel reports. The firm owned 58,618 shares of the construction company’s stock after selling 2,625 shares during the period. Denali Advisors LLC’s holdings in BlueLinx were worth $5,988,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its holdings in BlueLinx by 59.1% during the third quarter. Public Employees Retirement System of Ohio now owns 377 shares of the construction company’s stock worth $40,000 after buying an additional 140 shares during the last quarter. Quest Partners LLC boosted its stake in BlueLinx by 43.2% during the 3rd quarter. Quest Partners LLC now owns 1,133 shares of the construction company’s stock worth $119,000 after acquiring an additional 342 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in BlueLinx by 50.1% during the third quarter. Meeder Asset Management Inc. now owns 1,135 shares of the construction company’s stock valued at $120,000 after purchasing an additional 379 shares during the period. FMR LLC increased its stake in BlueLinx by 10.5% in the third quarter. FMR LLC now owns 1,545 shares of the construction company’s stock valued at $163,000 after purchasing an additional 147 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in BlueLinx in the third quarter worth $200,000. 90.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. StockNews.com lowered shares of BlueLinx from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Loop Capital decreased their target price on BlueLinx from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, February 21st. DA Davidson lowered their price target on BlueLinx from $137.00 to $119.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Finally, Benchmark cut their price objective on BlueLinx from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, BlueLinx presently has an average rating of “Moderate Buy” and a consensus price target of $123.50.

BlueLinx Trading Up 2.4 %

Shares of NYSE:BXC opened at $84.00 on Wednesday. The firm has a market cap of $696.78 million, a price-to-earnings ratio of 13.68 and a beta of 2.04. The company has a quick ratio of 3.26, a current ratio of 4.85 and a debt-to-equity ratio of 0.89. BlueLinx Holdings Inc. has a 12 month low of $80.30 and a 12 month high of $134.79. The company’s fifty day simple moving average is $102.73 and its 200 day simple moving average is $107.36.

BlueLinx (NYSE:BXC) last released 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 firm had revenue of $710.64 million during the quarter, compared to analyst estimates of $700.66 million. BlueLinx had a net margin of 1.80% and a return on equity of 7.50%.

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.