Heartland Advisors Inc. Has $4.99 Million Holdings in BlueLinx Holdings Inc. $BXC

Heartland Advisors Inc. boosted its holdings in BlueLinx Holdings Inc. (NYSE:BXC) by 22.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 92,075 shares of the construction company’s stock after acquiring an additional 17,075 shares during the quarter. Heartland Advisors Inc. owned 1.17% of BlueLinx worth $4,989,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BXC. Summit Securities Group LLC bought a new stake in BlueLinx during the 4th quarter worth approximately $31,000. Tower Research Capital LLC TRC boosted its position in shares of BlueLinx by 114.1% during the second quarter. Tower Research Capital LLC TRC now owns 792 shares of the construction company’s stock valued at $59,000 after buying an additional 422 shares during the last quarter. Comerica Bank boosted its position in shares of BlueLinx by 5,468.2% during the third quarter. Comerica Bank now owns 1,225 shares of the construction company’s stock valued at $90,000 after buying an additional 1,203 shares during the last quarter. State of Wyoming grew its holdings in BlueLinx by 19.5% during the fourth quarter. State of Wyoming now owns 1,456 shares of the construction company’s stock worth $89,000 after buying an additional 238 shares in the last quarter. Finally, Inceptionr LLC bought a new stake in BlueLinx during the third quarter worth $230,000. Institutional investors and hedge funds own 90.83% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on BXC. DA Davidson restated a “neutral” rating and set a $65.00 price objective on shares of BlueLinx in a research note on Wednesday, July 15th. Wall Street Zen raised shares of BlueLinx from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of BlueLinx in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, BlueLinx has a consensus rating of “Hold” and a consensus target price of $70.00.

BlueLinx Price Performance

Shares of NYSE BXC opened at $60.35 on Monday. BlueLinx Holdings Inc. has a twelve month low of $44.78 and a twelve month high of $87.88. The stock’s 50 day moving average price is $54.25 and its 200-day moving average price is $59.69. The company has a market capitalization of $469.49 million, a PE ratio of -116.05 and a beta of 1.41. The company has a quick ratio of 2.51, a current ratio of 3.90 and a debt-to-equity ratio of 0.96.

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

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.