SG Americas Securities LLC Acquires 4,006 Shares of BlueLinx Holdings Inc. $BXC

SG Americas Securities LLC raised its stake in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 100.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 7,998 shares of the construction company’s stock after purchasing an additional 4,006 shares during the period. SG Americas Securities LLC owned approximately 0.10% of BlueLinx worth $595,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BXC. Allianz Asset Management GmbH bought a new position in shares of BlueLinx in the second quarter valued at approximately $785,000. Concurrent Investment Advisors LLC purchased a new stake in BlueLinx in the 2nd quarter valued at $270,000. SummerHaven Investment Management LLC lifted its stake in BlueLinx by 2.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 8,693 shares of the construction company’s stock valued at $647,000 after acquiring an additional 195 shares in the last quarter. Strs Ohio purchased a new position in BlueLinx during the 1st quarter worth $450,000. Finally, Empowered Funds LLC grew its stake in shares of BlueLinx by 2.0% in the 1st quarter. Empowered Funds LLC now owns 48,222 shares of the construction company’s stock worth $3,616,000 after acquiring an additional 968 shares in the last quarter. 90.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of BlueLinx in a research report on Wednesday, November 19th. Benchmark dropped their target price on shares of BlueLinx from $110.00 to $83.00 and set a “buy” rating on the stock in a research report on Friday, August 1st. Finally, DA Davidson set a $68.00 target price on BlueLinx in a research note on Thursday, November 6th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, BlueLinx presently has a consensus rating of “Hold” and a consensus target price of $88.67.

BlueLinx Stock Up 7.8%

BlueLinx stock opened at $60.84 on Wednesday. The firm has a 50 day moving average price of $67.65 and a 200-day moving average price of $72.86. The company has a quick ratio of 2.94, a current ratio of 4.55 and a debt-to-equity ratio of 0.96. BlueLinx Holdings Inc. has a twelve month low of $52.71 and a twelve month high of $130.06. The company has a market capitalization of $478.48 million, a P/E ratio of 18.05 and a beta of 1.59.

BlueLinx (NYSE:BXC) last posted its quarterly earnings data on Tuesday, November 4th. The construction company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.06). BlueLinx had a net margin of 0.96% and a return on equity of 3.48%. The firm had revenue of $748.87 million during the quarter, compared to analysts’ expectations of $757.15 million.

BlueLinx announced that its Board of Directors has initiated a share buyback plan on Tuesday, July 29th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

BlueLinx Profile

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.