Medina Value Partners LLC Makes New $21.07 Million Investment in BlueLinx Holdings Inc. $BXC

Medina Value Partners LLC purchased a new stake in BlueLinx Holdings Inc. (NYSE:BXC) in the 3rd quarter, HoldingsChannel reports. The fund purchased 288,304 shares of the construction company’s stock, valued at approximately $21,069,000. BlueLinx comprises approximately 4.9% of Medina Value Partners LLC’s holdings, making the stock its 6th largest position.

Other institutional investors have also made changes to their positions in the company. Royal Bank of Canada lifted its stake in BlueLinx by 4.3% in the first 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 during the last quarter. AQR Capital Management LLC grew its position in shares of BlueLinx by 24.6% during the first quarter. AQR Capital Management LLC now owns 48,257 shares of the construction company’s stock valued at $3,618,000 after purchasing an additional 9,538 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in 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. SG Americas Securities LLC lifted its stake in BlueLinx by 100.4% in the second quarter. SG Americas Securities LLC now owns 7,998 shares of the construction company’s stock worth $595,000 after acquiring an additional 4,006 shares during the last quarter. Finally, Creative Planning purchased a new stake in shares of BlueLinx during the 2nd quarter worth $237,000. 90.83% of the stock is owned by institutional investors and hedge funds.

BlueLinx Stock Down 6.3%

Shares of BlueLinx stock opened at $51.36 on Friday. The company’s fifty day simple moving average is $69.95 and its two-hundred day simple moving average is $69.18. BlueLinx Holdings Inc. has a 12-month low of $50.40 and a 12-month high of $88.30. The company has a current ratio of 4.66, a quick ratio of 3.12 and a debt-to-equity ratio of 0.96. The company has a market cap of $404.17 million, a P/E ratio of -5,135,600.00 and a beta of 1.62.

BlueLinx (NYSE:BXC) last announced its quarterly earnings results on Tuesday, February 24th. The construction company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.05). The firm had revenue of $715.80 million for the quarter, compared to the consensus estimate of $703.84 million. BlueLinx had a net margin of 0.01% and a negative return on equity of 0.23%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BXC. Weiss Ratings reissued a “sell (d)” rating on shares of BlueLinx in a research report on Monday, December 29th. Benchmark decreased their price target on shares of BlueLinx from $83.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $86.00.

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.