BlueLinx Holdings Inc. $BXC Shares Sold by Algert Global LLC

Algert Global LLC lessened its stake in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 17.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,623 shares of the construction company’s stock after selling 6,189 shares during the period. Algert Global LLC’s holdings in BlueLinx were worth $2,221,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. American Century Companies Inc. raised its position in shares of BlueLinx by 3.1% during the 1st quarter. American Century Companies Inc. now owns 321,375 shares of the construction company’s stock worth $24,097,000 after purchasing an additional 9,808 shares during the last quarter. Nuveen LLC acquired a new position in shares of BlueLinx during the 1st quarter worth about $59,497,000. Deutsche Bank AG raised its position in shares of BlueLinx by 19.9% during the 1st quarter. Deutsche Bank AG now owns 45,672 shares of the construction company’s stock worth $3,424,000 after purchasing an additional 7,574 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of BlueLinx by 19.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 239,037 shares of the construction company’s stock worth $17,923,000 after purchasing an additional 39,166 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of BlueLinx by 169.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,618 shares of the construction company’s stock worth $121,000 after purchasing an additional 1,018 shares during the last quarter. Institutional investors and hedge funds own 90.83% of the company’s stock.

Analyst Upgrades and Downgrades

BXC has been the subject of several research analyst reports. DA Davidson set a $75.00 price target on shares of BlueLinx and gave the stock a “neutral” rating in a research report on Monday, August 4th. Wall Street Zen downgraded shares of BlueLinx from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Finally, Benchmark cut their price objective on shares of BlueLinx from $110.00 to $83.00 and set a “buy” rating for the company in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, BlueLinx has a consensus rating of “Moderate Buy” and an average price target of $91.00.

BlueLinx Stock Up 1.0%

BXC stock opened at $78.4850 on Friday. The firm has a 50-day moving average of $76.70 and a two-hundred day moving average of $76.83. The company has a market cap of $619.25 million, a price-to-earnings ratio of 23.29 and a beta of 1.74. The company has a current ratio of 4.55, a quick ratio of 2.94 and a debt-to-equity ratio of 0.96. BlueLinx Holdings Inc. has a 12 month low of $63.13 and a 12 month high of $134.79.

BlueLinx announced that its Board of Directors has initiated a share buyback program on Tuesday, July 29th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the construction company to reacquire up to 8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.