Raymond James Financial Inc. Takes $3.45 Million Position in BlueLinx Holdings Inc. (NYSE:BXC)

Raymond James Financial Inc. acquired a new position in BlueLinx Holdings Inc. (NYSE:BXC) in the fourth quarter, Holdings Channel.com reports. The fund acquired 33,780 shares of the construction company’s stock, valued at approximately $3,451,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its stake in BlueLinx by 59.1% in the third quarter. Public Employees Retirement System of Ohio now owns 377 shares of the construction company’s stock valued at $40,000 after buying an additional 140 shares during the last quarter. Quest Partners LLC increased its holdings in shares of BlueLinx by 43.2% during the third quarter. Quest Partners LLC now owns 1,133 shares of the construction company’s stock valued at $119,000 after acquiring an additional 342 shares in the last quarter. FMR LLC raised its position in shares of BlueLinx by 10.5% in the 3rd quarter. FMR LLC now owns 1,545 shares of the construction company’s stock valued at $163,000 after purchasing an additional 147 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of BlueLinx in the 3rd quarter valued at approximately $200,000. Finally, Bailard Inc. acquired a new stake in BlueLinx in the 4th quarter worth approximately $245,000. 90.83% of the stock is currently owned by hedge funds and other institutional investors.

BlueLinx Stock Up 0.4 %

BXC stock opened at $80.32 on Friday. The company has a market capitalization of $666.27 million, a P/E ratio of 13.08 and a beta of 2.18. BlueLinx Holdings Inc. has a 12 month low of $73.01 and a 12 month high of $134.79. The firm’s fifty day simple moving average is $92.32 and its 200-day simple moving average is $104.47. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.85 and a quick ratio of 3.26.

BlueLinx (NYSE:BXC) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.51 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 analysts’ expectations of $700.66 million. BlueLinx had a net margin of 1.80% and a return on equity of 7.50%.

Wall Street Analysts Forecast Growth

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