Empowered Funds LLC Purchases 32,943 Shares of BlueLinx Holdings Inc. $BXC

Empowered Funds LLC boosted its position in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 42.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,018 shares of the construction company’s stock after buying an additional 32,943 shares during the period. Empowered Funds LLC’s holdings in BlueLinx were worth $5,961,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada raised its position in shares of 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 buying an additional 321 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of BlueLinx by 24.6% during the 1st quarter. AQR Capital Management LLC now owns 48,257 shares of the construction company’s stock worth $3,618,000 after acquiring an additional 9,538 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of BlueLinx by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,863 shares of the construction company’s stock worth $365,000 after acquiring an additional 220 shares in the last quarter. Creative Planning bought a new position in BlueLinx in the second quarter valued at approximately $237,000. Finally, Norges Bank bought a new position in BlueLinx in the second quarter valued at approximately $1,116,000. 90.83% of the stock is owned by institutional investors.

BlueLinx Stock Up 0.8%

BXC stock opened at $53.87 on Friday. The stock has a market capitalization of $419.10 million, a P/E ratio of -103.59 and a beta of 1.41. The company has a current ratio of 3.90, a quick ratio of 2.51 and a debt-to-equity ratio of 0.96. BlueLinx Holdings Inc. has a 12 month low of $44.78 and a 12 month high of $87.88. The firm has a 50-day moving average price of $55.63 and a 200-day moving average price of $59.21.

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

Analysts Set New Price Targets

BXC has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of BlueLinx in a research note on Wednesday, May 20th. Wall Street Zen upgraded BlueLinx from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, DA Davidson reissued a “neutral” rating and set a $65.00 price target on shares of BlueLinx in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $70.00.

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.