Towle & Co. Sells 62,609 Shares of BlueLinx Holdings Inc. $BXC

Towle & Co. cut its holdings in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 37.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,587 shares of the construction company’s stock after selling 62,609 shares during the quarter. BlueLinx accounts for approximately 2.2% of Towle & Co.’s holdings, making the stock its 24th biggest holding. Towle & Co.’s holdings in BlueLinx were worth $5,667,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in shares of BlueLinx in the 4th quarter valued at $31,000. Tower Research Capital LLC TRC grew its holdings in shares of BlueLinx by 114.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 792 shares of the construction company’s stock valued at $59,000 after purchasing an additional 422 shares during the last quarter. Comerica Bank raised its position in BlueLinx by 5,468.2% in the 3rd quarter. Comerica Bank now owns 1,225 shares of the construction company’s stock worth $90,000 after purchasing an additional 1,203 shares during the period. State of Wyoming lifted its stake in BlueLinx by 19.5% in the fourth quarter. State of Wyoming now owns 1,456 shares of the construction company’s stock worth $89,000 after purchasing an additional 238 shares during the last quarter. Finally, Inceptionr LLC bought a new stake in BlueLinx in the third quarter worth $230,000. 90.83% of the stock is currently owned by institutional investors.

BlueLinx Trading Down 0.6%

NYSE BXC opened at $57.55 on Friday. BlueLinx Holdings Inc. has a fifty-two week low of $44.78 and a fifty-two week high of $87.88. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.51 and a current ratio of 3.90. The stock has a 50 day simple moving average of $54.78 and a two-hundred day simple moving average of $59.55. The stock has a market cap of $447.72 million, a P/E ratio of -110.67 and a beta of 1.41.

BlueLinx (NYSE:BXC) last posted its earnings results on Tuesday, May 5th. The construction company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.93. BlueLinx had a negative return on equity of 0.30% and a negative net margin of 0.14%.The firm had revenue of $731.15 million for the quarter, compared to analysts’ expectations of $714.84 million.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BlueLinx in a research note on Wednesday, May 20th. Wall Street Zen upgraded BlueLinx from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Finally, DA Davidson restated a “neutral” rating and set a $65.00 price target on shares of BlueLinx in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $70.00.

About BlueLinx

BlueLinx Corporation is a leading distributor of building products in the United States, serving professional builders, contractors and industrial customers. The company offers a comprehensive portfolio that includes lumber, engineered wood products, plywood, oriented strand board, siding, railing, millwork and specialty construction materials. Through its nationwide network of distribution centers, BlueLinx provides inventory management, delivery and supply-chain solutions designed to help customers streamline operations and reduce carrying costs.

Founded in 2004 as a spin-off from Georgia-Pacific’s distribution business, BlueLinx has developed a broad product line that spans both residential and commercial construction markets.