BlueLinx (NYSE:BXC) Cut to Hold at StockNews.com

BlueLinx (NYSE:BXC) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

BlueLinx Stock Performance

BlueLinx stock traded up $0.65 on Monday, reaching $88.71. 53,305 shares of the stock were exchanged, compared to its average volume of 84,931. The stock has a market cap of $777.72 million, a PE ratio of 8.18 and a beta of 1.83. The company has a current ratio of 4.37, a quick ratio of 3.01 and a debt-to-equity ratio of 0.89. BlueLinx has a twelve month low of $61.80 and a twelve month high of $98.33. The firm has a fifty day moving average price of $78.68 and a two-hundred day moving average price of $84.77.

BlueLinx (NYSE:BXC) last released its earnings results on Tuesday, October 31st. The construction company reported $2.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.78 by ($0.05). The firm had revenue of $809.98 million for the quarter, compared to analyst estimates of $878.60 million. BlueLinx had a return on equity of 16.74% and a net margin of 3.02%. Sell-side analysts anticipate that BlueLinx will post 9.65 EPS for the current year.

Insider Activity

In other news, Director Mitchell B. Lewis sold 5,252 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $88.45, for a total transaction of $464,539.40. Following the completion of the transaction, the director now owns 13,810 shares of the company’s stock, valued at $1,221,494.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Mitchell B. Lewis sold 3,155 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $86.42, for a total value of $272,655.10. Following the sale, the director now owns 6,334 shares of the company’s stock, valued at $547,384.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mitchell B. Lewis sold 5,252 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $88.45, for a total transaction of $464,539.40. Following the completion of the sale, the director now directly owns 13,810 shares in the company, valued at approximately $1,221,494.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,404 shares of company stock valued at $1,273,866. Insiders own 4.50% of the company’s stock.

Institutional Trading of BlueLinx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BXC. MetLife Investment Management LLC increased its stake in BlueLinx by 45.7% in the first quarter. MetLife Investment Management LLC now owns 5,061 shares of the construction company’s stock valued at $364,000 after acquiring an additional 1,588 shares during the period. Panagora Asset Management Inc. grew its stake in BlueLinx by 7.9% during the first quarter. Panagora Asset Management Inc. now owns 23,579 shares of the construction company’s stock worth $1,695,000 after buying an additional 1,726 shares during the last quarter. Rhumbline Advisers grew its stake in BlueLinx by 10.3% during the first quarter. Rhumbline Advisers now owns 9,560 shares of the construction company’s stock worth $687,000 after buying an additional 893 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in BlueLinx by 75.6% during the first quarter. Dimensional Fund Advisors LP now owns 123,637 shares of the construction company’s stock worth $8,888,000 after buying an additional 53,217 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in BlueLinx by 7.7% during the first quarter. Vanguard Group Inc. now owns 540,929 shares of the construction company’s stock worth $38,883,000 after buying an additional 38,787 shares during the last quarter. Institutional investors own 87.01% of the company’s stock.

About BlueLinx

BlueLinx Holdings Inc, together with its subsidiaries, distributes residential and commercial building products in the United States. The company distributes specialty products comprising engineered wood, siding, millwork, outdoor living, specialty lumber and panels, and industrial products; and structural products include lumber, plywood, oriented strand boards, rebars and remesh, and other wood products primarily that are used for structural support in construction projects.