Polar Asset Management Partners Inc. Decreases Stock Holdings in BlueLinx Holdings Inc. $BXC

Polar Asset Management Partners Inc. cut its holdings in BlueLinx Holdings Inc. (NYSE:BXC) by 27.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 50,825 shares of the construction company’s stock after selling 19,375 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in BlueLinx were worth $3,714,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BXC. Voss Capital LP lifted its position in BlueLinx by 24.5% during the third quarter. Voss Capital LP now owns 60,000 shares of the construction company’s stock valued at $4,385,000 after purchasing an additional 11,790 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of BlueLinx by 24.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 115,248 shares of the construction company’s stock valued at $8,422,000 after buying an additional 22,611 shares in the last quarter. Verition Fund Management LLC lifted its holdings in shares of BlueLinx by 34.6% in the 3rd quarter. Verition Fund Management LLC now owns 5,039 shares of the construction company’s stock valued at $368,000 after acquiring an additional 1,294 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its holdings in shares of BlueLinx by 21.9% in the 3rd quarter. Susquehanna Fundamental Investments LLC now owns 8,595 shares of the construction company’s stock valued at $628,000 after acquiring an additional 1,547 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in BlueLinx by 17.9% in the third quarter. Public Employees Retirement System of Ohio now owns 8,275 shares of the construction company’s stock worth $605,000 after acquiring an additional 1,259 shares in the last quarter. Institutional investors own 90.83% of the company’s stock.

BlueLinx Trading Down 2.3%

Shares of BXC opened at $46.53 on Friday. BlueLinx Holdings Inc. has a twelve month low of $45.93 and a twelve month high of $88.30. The company has a market cap of $366.15 million, a P/E ratio of -4,652,500.00 and a beta of 1.62. 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’s fifty day simple moving average is $68.46 and its 200-day simple moving average is $67.98.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BXC. Weiss Ratings reissued a “sell (d)” rating on shares of BlueLinx in a research note on Monday, December 29th. Benchmark lowered their price objective on BlueLinx from $83.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $86.00.

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.