Bridgeway Capital Management LLC Purchases 968 Shares of BlueLinx Holdings Inc. $BXC

by · The Markets Daily

Bridgeway Capital Management LLC grew its holdings in shares of BlueLinx Holdings Inc. (NYSE:BXC – Free Report) by 0.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 146,879 shares of the construction company’s stock after buying an additional 968 shares during the period. Bridgeway Capital Management LLC’s holdings in BlueLinx were worth $11,013,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of BlueLinx by 2.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,643 shares of the construction company’s stock worth $474,000 after acquiring an additional 104 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of BlueLinx by 33.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 504 shares of the construction company’s stock valued at $51,000 after purchasing an additional 127 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of BlueLinx by 4.3% during the first quarter. Royal Bank of Canada now owns 7,870 shares of the construction company’s stock valued at $590,000 after purchasing an additional 321 shares during the last quarter. CWM LLC grew its stake in shares of BlueLinx by 92.8% in the 1st quarter. CWM LLC now owns 696 shares of the construction company’s stock worth $52,000 after buying an additional 335 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of BlueLinx by 14.9% in the first quarter. Exchange Traded Concepts LLC now owns 3,113 shares of the construction company’s stock worth $233,000 after acquiring an additional 404 shares during the last quarter. 90.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Read Our Latest Analysis on BlueLinx

BlueLinx Stock Performance

Shares of NYSE BXC opened at $81.41 on Thursday. 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. The firm has a market capitalization of $642.45 million, a price-to-earnings ratio of 24.16 and a beta of 1.58. The firm has a 50 day moving average of $79.15 and a 200 day moving average of $75.56.

BlueLinx declared that its Board of Directors has authorized a stock repurchase program on Tuesday, July 29th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the construction company to buy up to 8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

About BlueLinx

(Free Report)

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.

See Also

Want to see what other hedge funds are holding BXC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlueLinx Holdings Inc. (NYSE:BXC – Free Report).