ABS Direct Equity Fund LLC Buys Shares of 27,600 BlueLinx Holdings Inc. (NYSE:BXC)

ABS Direct Equity Fund LLC purchased a new position in shares of BlueLinx Holdings Inc. (NYSE:BXC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 27,600 shares of the construction company’s stock, valued at approximately $3,127,000. BlueLinx makes up about 2.9% of ABS Direct Equity Fund LLC’s holdings, making the stock its 9th largest position. ABS Direct Equity Fund LLC owned about 0.31% of BlueLinx as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. DekaBank Deutsche Girozentrale acquired a new position in shares of BlueLinx during the third quarter worth $47,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in BlueLinx by 19.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,410 shares of the construction company’s stock worth $160,000 after purchasing an additional 230 shares in the last quarter. Raymond James & Associates bought a new position in BlueLinx in the third quarter valued at about $205,000. Quadrature Capital Ltd bought a new position in BlueLinx in the third quarter valued at about $240,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of BlueLinx during the fourth quarter valued at about $261,000. 90.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Craig Hallum reduced their price objective on shares of BlueLinx from $130.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday. TheStreet lowered BlueLinx from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. Finally, Benchmark lowered their price target on shares of BlueLinx from $144.00 to $135.00 and set a “buy” rating for the company in a report on Thursday.

BlueLinx Trading Up 0.1 %

Shares of BXC stock traded up $0.09 during mid-day trading on Friday, hitting $102.54. The company’s stock had a trading volume of 102,327 shares, compared to its average volume of 80,860. The company has a market cap of $888.00 million, a PE ratio of 19.24 and a beta of 1.96. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.55 and a current ratio of 4.71. The company’s fifty day simple moving average is $119.70 and its 200-day simple moving average is $106.88. BlueLinx Holdings Inc. has a 52 week low of $67.76 and a 52 week high of $132.67.

BlueLinx (NYSE:BXC) last issued its earnings results on Tuesday, February 20th. The construction company reported $2.64 earnings per share for the quarter. The business had revenue of $712.53 million during the quarter. BlueLinx had a return on equity of 14.11% and a net margin of 1.57%.

Insider Buying and Selling

In other BlueLinx news, Director Mitchell B. Lewis sold 5,352 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $116.33, for a total value of $622,598.16. Following the completion of the sale, the director now owns 33,476 shares of the company’s stock, valued at $3,894,263.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Mitchell B. Lewis sold 5,352 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $116.33, for a total value of $622,598.16. Following the completion of the sale, the director now directly owns 33,476 shares of the company’s stock, valued at $3,894,263.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mitchell B. Lewis sold 2,904 shares of BlueLinx stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $117.15, for a total value of $340,203.60. Following the transaction, the director now directly owns 2,790 shares in the company, valued at approximately $326,848.50. The disclosure for this sale can be found here. Insiders have sold a total of 8,570 shares of company stock valued at $1,000,196 over the last ninety days. 3.38% of the stock is owned by corporate insiders.

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.