Squarepoint Ops LLC Raises Stake in BlueLinx Holdings Inc. (NYSE:BXC)

Squarepoint Ops LLC boosted its holdings in BlueLinx Holdings Inc. (NYSE:BXC) by 548.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 22,644 shares of the construction company’s stock after buying an additional 19,153 shares during the period. Squarepoint Ops LLC owned approximately 0.26% of BlueLinx worth $2,108,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. nVerses Capital LLC raised its stake in shares of BlueLinx by 200.0% in the 2nd quarter. nVerses Capital LLC now owns 300 shares of the construction company’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Innealta Capital LLC acquired a new position in shares of BlueLinx during the second quarter worth about $39,000. Meeder Asset Management Inc. purchased a new stake in shares of BlueLinx in the second quarter worth about $70,000. Allspring Global Investments Holdings LLC boosted its position in shares of BlueLinx by 305.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 564 shares of the construction company’s stock worth $73,000 after buying an additional 425 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of BlueLinx by 24.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,097 shares of the construction company’s stock valued at $195,000 after buying an additional 418 shares during the period. 90.83% of the stock is owned by institutional investors and hedge funds.

BlueLinx Price Performance

Shares of NYSE BXC opened at $103.49 on Friday. 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 Holdings Inc. has a fifty-two week low of $67.76 and a fifty-two week high of $132.67. The business has a 50 day moving average price of $101.97 and a two-hundred day moving average price of $105.54. The firm has a market cap of $896.43 million, a PE ratio of 19.42 and a beta of 1.94.

BlueLinx (NYSE:BXC) last released its quarterly earnings results on Tuesday, July 30th. The construction company reported $1.53 earnings per share 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.

Analysts Set New Price Targets

BXC has been the subject of a number of analyst reports. StockNews.com upgraded BlueLinx from a “hold” rating to a “buy” rating in a report on Tuesday, August 27th. DA Davidson raised their price target on shares of BlueLinx from $121.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Craig Hallum lifted their price target on shares of BlueLinx from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $135.67.

BlueLinx 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.