Graham Capital Management L.P. Buys New Position in BlueLinx Holdings Inc. (NYSE:BXC)

Graham Capital Management L.P. acquired a new stake in BlueLinx Holdings Inc. (NYSE:BXC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,291 shares of the construction company’s stock, valued at approximately $234,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in shares of BlueLinx by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 579,636 shares of the construction company’s stock valued at $59,216,000 after acquiring an additional 1,889 shares in the last quarter. American Century Companies Inc. increased its stake in BlueLinx by 8.4% during the fourth quarter. American Century Companies Inc. now owns 311,567 shares of the construction company’s stock worth $31,830,000 after acquiring an additional 24,087 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in BlueLinx by 19.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 199,871 shares of the construction company’s stock worth $20,419,000 after acquiring an additional 32,693 shares during the last quarter. Northern Trust Corp grew its stake in shares of BlueLinx by 12.8% in the fourth quarter. Northern Trust Corp now owns 92,199 shares of the construction company’s stock valued at $9,419,000 after buying an additional 10,438 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of BlueLinx by 1.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 82,845 shares of the construction company’s stock valued at $8,463,000 after buying an additional 1,391 shares in the last quarter. 90.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on BXC. Loop Capital decreased their target price on BlueLinx from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, April 14th. Benchmark decreased their price target on BlueLinx from $120.00 to $110.00 and set a “buy” rating for the company in a report on Friday, May 2nd. DA Davidson decreased their price target on BlueLinx from $119.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, StockNews.com downgraded BlueLinx from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.00.

BlueLinx Stock Up 1.7%

BlueLinx stock opened at $71.00 on Monday. BlueLinx Holdings Inc. has a fifty-two week low of $63.55 and a fifty-two week high of $134.79. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.26 and a current ratio of 4.85. The company has a market capitalization of $569.55 million, a P/E ratio of 11.56 and a beta of 1.99. The stock has a 50-day simple moving average of $73.35 and a 200-day simple moving average of $95.40.

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

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.