Heartland Advisors Inc. Buys 17,075 Shares of BlueLinx Holdings Inc. $BXC

Heartland Advisors Inc. increased its stake in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 22.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 92,075 shares of the construction company’s stock after buying an additional 17,075 shares during the period. Heartland Advisors Inc.’s holdings in BlueLinx were worth $4,989,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Towle & Co. boosted its stake in BlueLinx by 113.8% in the fourth quarter. Towle & Co. now owns 167,196 shares of the construction company’s stock valued at $10,271,000 after acquiring an additional 89,010 shares during the last quarter. Gendell Jeffrey L increased its stake in shares of BlueLinx by 9.0% during the 4th quarter. Gendell Jeffrey L now owns 718,993 shares of the construction company’s stock worth $44,168,000 after purchasing an additional 59,657 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of BlueLinx in the 4th quarter worth approximately $3,275,000. Charles Schwab Investment Management Inc. raised its holdings in shares of BlueLinx by 16.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 304,794 shares of the construction company’s stock worth $18,723,000 after purchasing an additional 42,904 shares during the period. Finally, Atom Investors LP purchased a new position in BlueLinx in the fourth quarter valued at approximately $2,469,000. Institutional investors own 90.83% of the company’s stock.

Analyst Ratings Changes

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

BlueLinx Price Performance

BXC opened at $60.35 on Monday. The company has a market capitalization of $469.49 million, a price-to-earnings 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. The firm has a 50-day moving average price of $54.25 and a 200-day moving average price of $59.69. BlueLinx Holdings Inc. has a twelve month low of $44.78 and a twelve month high of $87.88.

BlueLinx (NYSE:BXC) last announced 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 for the quarter, compared to analysts’ expectations of $714.84 million. BlueLinx had a negative net margin of 0.14% and a negative return on equity of 0.30%.

BlueLinx Profile

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.