BlueLinx Holdings Inc. (BXC) Stake Owned by Feinberg Stephen
recently disclosed that they own 3% of BlueLinx Holdings Inc. (NYSE:BXC) in a Form 13D/A disclosure that was filed with the SEC on Monday, October 23rd. The investor owns 270,398 shares of the stock worth approximately $2,163,184. The filing is available through the SEC website at this hyperlink.
provided the following explanation of their ownership:
Item 4 is hereby amended by adding the following paragraph after the last paragraph thereof:
On October 23,2017, pursuant to the terms of an underwriting agreement dated October 18,2017 (the “Underwriting Agreement”), Cerberus ABP sold to BTIG, LLC (the “Underwriter”) an aggregate of 4,443,428 Shares, including the sale of 579,578 Shares pursuant to a 30day option that the Underwriter exercised in full on October 19,2017. The sale occurred at a public offering price of $7.00 per share, less a 6.0% underwriting discount, for aggregate net proceeds before offering expenses to Cerberus ABP of approximately $29.2 million.
Pursuant to the terms of the Underwriting Agreement, the Company and its directors and executive officers have agreed, subject to certain exceptions, not to sell or effect certain other dispositions of Shares without the prior written consent of the Underwriter during the period ending on January 16,2018.
A copy of the Underwriting Agreement is incorporated by reference as Exhibit 6 to this Schedule 13D. The description of the Underwriting Agreement set forth herein is qualified in its entirety by reference to the complete copy of the Underwriting Agreement.
A number of other large investors have also bought and sold shares of the business. Spark Investment Management LLC increased its holdings in shares of BlueLinx Holdings by 38.7% in the second quarter. Spark Investment Management LLC now owns 16,500 shares of the construction company’s stock worth $180,000 after purchasing an additional 4,600 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of BlueLinx Holdings by 10.5% in the second quarter. Dimensional Fund Advisors LP now owns 124,984 shares of the construction company’s stock worth $1,364,000 after purchasing an additional 11,898 shares during the last quarter. Weber Alan W increased its holdings in shares of BlueLinx Holdings by 45.4% in the second quarter. Weber Alan W now owns 84,779 shares of the construction company’s stock worth $927,000 after purchasing an additional 26,480 shares during the last quarter. Algert Global LLC bought a new stake in shares of BlueLinx Holdings in the second quarter worth about $364,000. Finally, Feinberg Stephen bought a new stake in shares of BlueLinx Holdings in the second quarter worth about $51,569,000. 74.47% of the stock is currently owned by institutional investors and hedge funds.
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Several equities research analysts have recently issued reports on the company. ValuEngine cut BlueLinx Holdings from a “buy” rating to a “hold” rating in a report on Monday, August 7th. TheStreet raised BlueLinx Holdings from a “d” rating to a “c” rating in a report on Wednesday, October 11th.
Shares of BlueLinx Holdings Inc. (NYSE BXC) traded up 0.13% during midday trading on Monday, hitting $8.00. The stock had a trading volume of 84,350 shares. The stock has a market cap of $72.78 million, a PE ratio of 2.52 and a beta of 2.30. The firm has a 50 day moving average price of $9.98 and a 200-day moving average price of $10.10. BlueLinx Holdings Inc. has a 52-week low of $6.36 and a 52-week high of $11.78.
BlueLinx Holdings (NYSE:BXC) last released its quarterly earnings results on Thursday, August 10th. The construction company reported $0.35 earnings per share for the quarter. BlueLinx Holdings had a net margin of 1.62% and a negative return on equity of 22.97%. The firm had revenue of $474.00 million during the quarter. Equities analysts predict that BlueLinx Holdings Inc. will post ($0.21) EPS for the current fiscal year.
BlueLinx Holdings Company Profile
BlueLinx Holdings, Inc is a distributor of building products in North America. The Company operates its distribution business through a network of approximately 40 distribution centers. It serves metropolitan areas in the United States and delivers building products to a range of wholesale and retail customers.
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