Norges Bank Takes Position in BlueLinx Holdings Inc. (NYSE:BXC)

Norges Bank purchased a new position in BlueLinx Holdings Inc. (NYSE:BXC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 15,000 shares of the construction company’s stock, valued at approximately $1,532,000. Norges Bank owned about 0.18% of BlueLinx as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio boosted 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 acquiring an additional 140 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in BlueLinx during the fourth quarter valued at $61,000. AlphaQuest LLC increased its position in BlueLinx by 28.4% in the fourth quarter. AlphaQuest LLC now owns 1,455 shares of the construction company’s stock worth $149,000 after buying an additional 322 shares during the last quarter. FMR LLC raised its stake in shares of 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 buying an additional 147 shares during the period. Finally, Bailard Inc. purchased a new position in shares of BlueLinx during the 4th quarter valued at $245,000. Institutional investors own 90.83% of the company’s stock.

Analyst Upgrades and Downgrades

BXC has been the topic of a number of research reports. Loop Capital lowered their price objective on 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 cut shares of BlueLinx from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. DA Davidson reduced their price objective on shares of BlueLinx from $137.00 to $119.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Finally, Benchmark dropped their target price on BlueLinx from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $123.50.

BlueLinx Price Performance

Shares of NYSE:BXC opened at $71.43 on Friday. The company has a 50 day moving average of $83.23 and a 200 day moving average of $101.85. The company has a current ratio of 4.85, a quick ratio of 3.26 and a debt-to-equity ratio of 0.89. The stock has a market cap of $592.51 million, a P/E ratio of 11.63 and a beta of 1.82. BlueLinx Holdings Inc. has a 12 month low of $67.42 and a 12 month high of $134.79.

BlueLinx (NYSE:BXC) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). BlueLinx had a net margin of 1.80% and a return on equity of 7.50%. The firm had revenue of $710.64 million for the quarter, compared to analysts’ expectations of $700.66 million.

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.