Quantinno Capital Management LP Raises Stock Position in BlueLinx Holdings Inc. $BXC

Quantinno Capital Management LP increased its position in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 124.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,657 shares of the construction company’s stock after acquiring an additional 19,236 shares during the period. Quantinno Capital Management LP owned approximately 0.45% of BlueLinx worth $1,878,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of BXC. Royal Bank of Canada boosted its holdings in BlueLinx by 4.3% in the 1st 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 period. AQR Capital Management LLC increased its holdings in shares of BlueLinx by 24.6% in the first quarter. AQR Capital Management LLC now owns 48,257 shares of the construction company’s stock worth $3,618,000 after purchasing an additional 9,538 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of BlueLinx by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,863 shares of the construction company’s stock worth $365,000 after buying an additional 220 shares in the last quarter. Creative Planning bought a new stake in BlueLinx during the second quarter valued at $237,000. Finally, Norges Bank purchased a new position in BlueLinx during the second quarter worth about $1,116,000. 90.83% of the stock is currently owned by hedge funds and other institutional investors.

BlueLinx Stock Performance

NYSE BXC opened at $89.83 on Wednesday. BlueLinx Holdings Inc. has a 52-week low of $44.78 and a 52-week high of $93.80. The company has a fifty day moving average of $59.49 and a 200-day moving average of $59.24. The company has a market capitalization of $706.05 million, a P/E ratio of -359.30 and a beta of 1.44. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.59 and a current ratio of 4.01.

BlueLinx (NYSE:BXC) last released its earnings results on Tuesday, August 4th. The construction company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.85. The business had revenue of $814.08 million for the quarter, compared to analysts’ expectations of $793.72 million. BlueLinx had a positive return on equity of 0.13% and a negative net margin of 0.06%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. DA Davidson upped their target price on BlueLinx from $65.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Wall Street Zen upgraded BlueLinx from a “hold” rating to a “buy” rating in a research report on Saturday. Benchmark boosted their price objective on BlueLinx from $75.00 to $83.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of BlueLinx in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $83.50.

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.