Concentric Capital Strategies LP Purchases 36,212 Shares of BlueLinx Holdings Inc. $BXC

Concentric Capital Strategies LP increased its holdings in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 115.0% during the 4th quarter, HoldingsChannel reports. The firm owned 67,696 shares of the construction company’s stock after purchasing an additional 36,212 shares during the period. Concentric Capital Strategies LP’s holdings in BlueLinx were worth $4,159,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Royal Bank of Canada boosted its holdings in shares of BlueLinx by 4.3% in the first quarter. Royal Bank of Canada now owns 7,870 shares of the construction company’s stock valued at $590,000 after buying an additional 321 shares during the period. AQR Capital Management LLC lifted its position in BlueLinx by 24.6% in the 1st quarter. AQR Capital Management LLC now owns 48,257 shares of the construction company’s stock valued at $3,618,000 after acquiring an additional 9,538 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in BlueLinx by 4.7% in 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 in the last quarter. Creative Planning acquired a new position in BlueLinx in the 2nd quarter worth $237,000. Finally, Norges Bank acquired a new position in BlueLinx in the 2nd quarter worth $1,116,000. 90.83% of the stock is currently owned by institutional investors and hedge funds.

BlueLinx Trading Down 1.5%

Shares of BlueLinx stock opened at $54.32 on Thursday. 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 firm has a 50-day moving average of $53.20 and a 200-day moving average of $60.44. BlueLinx Holdings Inc. has a 52-week low of $44.78 and a 52-week high of $88.30. The stock has a market cap of $422.63 million, a PE ratio of -104.47 and a beta of 1.45.

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

Wall Street Analyst Weigh In

BXC has been the subject of a number of research reports. Benchmark decreased their price objective on BlueLinx from $83.00 to $75.00 and set a “buy” rating for the company in a report on Friday, February 27th. Wall Street Zen upgraded BlueLinx from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of BlueLinx in a research report on Wednesday, May 20th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, BlueLinx has an average rating of “Hold” and a consensus target price of $71.50.

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.