Third Avenue Management LLC Boosts Stock Position in BlueLinx Holdings Inc. $BXC

Third Avenue Management LLC lifted its stake in BlueLinx Holdings Inc. (NYSE:BXC) by 55.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 46,357 shares of the construction company’s stock after purchasing an additional 16,488 shares during the period. Third Avenue Management LLC’s holdings in BlueLinx were worth $3,448,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC grew its holdings in BlueLinx by 2.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 8,693 shares of the construction company’s stock valued at $647,000 after buying an additional 195 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of BlueLinx by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,863 shares of the construction company’s stock valued at $365,000 after acquiring an additional 220 shares during the last quarter. Royal Bank of Canada boosted its position in shares of BlueLinx by 4.3% during the 1st quarter. Royal Bank of Canada now owns 7,870 shares of the construction company’s stock valued at $590,000 after acquiring an additional 321 shares during the last quarter. CWM LLC grew its holdings in shares of BlueLinx by 92.8% in the first quarter. CWM LLC now owns 696 shares of the construction company’s stock valued at $52,000 after purchasing an additional 335 shares during the period. Finally, State of Wyoming grew its holdings in shares of BlueLinx by 32.4% in the first quarter. State of Wyoming now owns 3,216 shares of the construction company’s stock valued at $241,000 after purchasing an additional 787 shares during the period. Institutional investors and hedge funds own 90.83% of the company’s stock.

BlueLinx Trading Up 0.2%

NYSE BXC opened at $62.39 on Monday. The company has a debt-to-equity ratio of 0.96, a current ratio of 4.55 and a quick ratio of 2.94. The stock has a market capitalization of $490.70 million, a P/E ratio of 18.51 and a beta of 1.59. The firm’s 50-day moving average is $66.76 and its two-hundred day moving average is $72.64. BlueLinx Holdings Inc. has a 12 month low of $52.71 and a 12 month high of $130.06.

BlueLinx (NYSE:BXC) last released its quarterly earnings results on Tuesday, November 4th. The construction company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.06). BlueLinx had a net margin of 0.96% and a return on equity of 3.48%. The company had revenue of $748.87 million during the quarter, compared to analysts’ expectations of $757.15 million.

Analyst Ratings Changes

A number of brokerages have commented on BXC. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BlueLinx in a research note on Tuesday, November 25th. DA Davidson set a $68.00 price target on shares of BlueLinx in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $88.67.

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.