Alliancebernstein L.P. Decreases Stock Position in BlueLinx Holdings Inc. (NYSE:BXC)

Alliancebernstein L.P. trimmed its position in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 8.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,570 shares of the construction company’s stock after selling 3,350 shares during the quarter. Alliancebernstein L.P.’s holdings in BlueLinx were worth $3,736,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in BXC. Public Employees Retirement System of Ohio raised its holdings in BlueLinx by 59.1% in the 3rd 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 period. PNC Financial Services Group Inc. purchased a new position in shares of BlueLinx in the fourth quarter valued at approximately $61,000. AlphaQuest LLC grew its holdings in shares of BlueLinx by 28.4% in the fourth quarter. AlphaQuest LLC now owns 1,455 shares of the construction company’s stock valued at $149,000 after purchasing an additional 322 shares in the last quarter. FMR LLC increased its stake in BlueLinx by 10.5% during the 3rd quarter. FMR LLC now owns 1,545 shares of the construction company’s stock worth $163,000 after buying an additional 147 shares during the period. Finally, Bailard Inc. acquired a new stake in BlueLinx during the 4th quarter worth approximately $245,000. 90.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BXC has been the subject of several research reports. StockNews.com downgraded shares of BlueLinx from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Benchmark cut their price target on BlueLinx from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Loop Capital decreased their price objective on BlueLinx from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday. Finally, DA Davidson cut their target price on shares of BlueLinx from $137.00 to $119.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.25.

BlueLinx Stock Down 0.3 %

BlueLinx stock opened at $71.34 on Tuesday. The stock’s fifty day moving average is $82.54 and its two-hundred day moving average is $101.59. The stock has a market cap of $591.77 million, a PE ratio of 11.62 and a beta of 1.82. BlueLinx Holdings Inc. has a 1-year low of $67.42 and a 1-year high of $134.79. 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 earnings results on Tuesday, February 18th. The construction company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $710.64 million for the quarter, compared to analysts’ expectations of $700.66 million. BlueLinx had a return on equity of 7.50% and a net margin of 1.80%.

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.