Hsbc Holdings PLC Acquires 4,220 Shares of BlueLinx Holdings Inc. (NYSE:BXC)

Hsbc Holdings PLC increased its holdings in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 120.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,733 shares of the construction company’s stock after purchasing an additional 4,220 shares during the quarter. Hsbc Holdings PLC owned approximately 0.09% of BlueLinx worth $876,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. SummerHaven Investment Management LLC boosted its holdings in shares of BlueLinx by 1.4% in the 4th quarter. SummerHaven Investment Management LLC now owns 7,617 shares of the construction company’s stock valued at $863,000 after buying an additional 102 shares during the last quarter. Raymond James & Associates lifted its stake in BlueLinx by 4.6% in the fourth quarter. Raymond James & Associates now owns 2,616 shares of the construction company’s stock valued at $296,000 after acquiring an additional 116 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in shares of BlueLinx by 4.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 3,751 shares of the construction company’s stock valued at $425,000 after acquiring an additional 156 shares during the period. Oliver Luxxe Assets LLC increased its stake in shares of BlueLinx by 3.1% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 6,230 shares of the construction company’s stock worth $511,000 after purchasing an additional 186 shares during the last quarter. Finally, SkyView Investment Advisors LLC raised its holdings in shares of BlueLinx by 2.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 8,057 shares of the construction company’s stock valued at $661,000 after purchasing an additional 222 shares during the period. Institutional investors and hedge funds own 90.83% of the company’s stock.

Insiders Place Their Bets

In other BlueLinx news, Director Mitchell B. Lewis sold 314 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $119.09, for a total transaction of $37,394.26. Following the completion of the sale, the director now directly owns 38,828 shares in the company, valued at $4,624,026.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Mitchell B. Lewis sold 2,904 shares of BlueLinx stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $117.15, for a total value of $340,203.60. Following the completion of the sale, the director now directly owns 2,790 shares in the company, valued at $326,848.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mitchell B. Lewis sold 314 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $119.09, for a total transaction of $37,394.26. Following the transaction, the director now owns 38,828 shares of the company’s stock, valued at $4,624,026.52. The disclosure for this sale can be found here. Insiders sold 8,570 shares of company stock worth $1,000,196 over the last three months. Insiders own 3.38% of the company’s stock.

Analysts Set New Price Targets

BXC has been the subject of several recent analyst reports. Craig Hallum cut their target price on shares of BlueLinx from $130.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday. Benchmark cut their price objective on BlueLinx from $144.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday. Finally, TheStreet lowered BlueLinx from a “b” rating to a “c” rating in a report on Thursday, February 22nd.

BlueLinx Stock Performance

Shares of NYSE BXC traded up $1.89 during mid-day trading on Thursday, reaching $102.48. 135,889 shares of the company were exchanged, compared to its average volume of 75,801. The stock has a market capitalization of $886.45 million, a P/E ratio of 18.89 and a beta of 1.96. The company has a quick ratio of 3.55, a current ratio of 5.13 and a debt-to-equity ratio of 0.90. The company’s 50-day simple moving average is $120.28 and its 200-day simple moving average is $106.49. BlueLinx Holdings Inc. has a twelve month low of $67.57 and a twelve month high of $132.67.

BlueLinx (NYSE:BXC) last issued its quarterly earnings data on Tuesday, February 20th. The construction company reported $2.64 earnings per share (EPS) for the quarter. The firm had revenue of $712.53 million during the quarter. BlueLinx had a net margin of 1.57% and a return on equity of 14.24%.

About BlueLinx

BlueLinx Holdings Inc, together with its subsidiaries, engages in the distribution of residential and commercial building products in the United States. It distributes specialty products, including engineered wood, siding, millwork, outdoor living, specialty lumber and panels, and industrial products; and structural products, such as lumber, plywood, oriented strand boards, rebars and remesh, as well as other wood products that are used for structural support in construction projects.