Teacher Retirement System of Texas Has $502,000 Stock Holdings in BlueLinx Holdings Inc. $BXC

Teacher Retirement System of Texas lowered its stake in BlueLinx Holdings Inc. (NYSE:BXC) by 14.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,755 shares of the construction company’s stock after selling 1,185 shares during the period. Teacher Retirement System of Texas’ holdings in BlueLinx were worth $502,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BXC. CWM LLC increased its stake 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 buying an additional 335 shares during the period. Federated Hermes Inc. grew its holdings in BlueLinx by 9.6% during the 1st quarter. Federated Hermes Inc. now owns 22,687 shares of the construction company’s stock worth $1,701,000 after acquiring an additional 1,985 shares during the last quarter. De Lisle Partners LLP grew its holdings in BlueLinx by 2.0% during the 1st quarter. De Lisle Partners LLP now owns 51,873 shares of the construction company’s stock worth $3,893,000 after acquiring an additional 1,000 shares during the last quarter. PNC Financial Services Group Inc. increased its position in BlueLinx by 169.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,618 shares of the construction company’s stock valued at $121,000 after acquiring an additional 1,018 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of BlueLinx by 19.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 239,037 shares of the construction company’s stock valued at $17,923,000 after acquiring an additional 39,166 shares during the last quarter. 90.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BXC has been the topic of several analyst reports. DA Davidson set a $68.00 price objective on shares of BlueLinx in a research note on Thursday. Wall Street Zen downgraded BlueLinx from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Weiss Ratings reiterated a “sell (d+)” rating on shares of BlueLinx in a research report on Wednesday, October 8th. Finally, Benchmark lowered their price objective on BlueLinx from $110.00 to $83.00 and set a “buy” rating for the company in a research report on Friday, August 1st. Two investment 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $88.67.

BlueLinx Stock Down 1.7%

Shares of NYSE:BXC opened at $60.76 on Monday. The company has a market capitalization of $477.88 million, a price-to-earnings ratio of 18.03 and a beta of 1.59. 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 business’s 50-day moving average is $73.72 and its 200-day moving average is $73.87. BlueLinx Holdings Inc. has a 1 year low of $60.23 and a 1 year high of $134.79.

BlueLinx announced that its Board of Directors has approved a stock repurchase program on Tuesday, July 29th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the construction company to buy up to 8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

About BlueLinx

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.