Sterling Capital Management LLC Acquires 230 Shares of BlueLinx Holdings Inc. (NYSE:BXC)

Sterling Capital Management LLC increased its stake in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,556 shares of the construction company’s stock after buying an additional 230 shares during the period. Sterling Capital Management LLC owned 0.07% of BlueLinx worth $568,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its position in shares of BlueLinx by 8.4% during the fourth quarter. American Century Companies Inc. now owns 311,567 shares of the construction company’s stock worth $31,830,000 after purchasing an additional 24,087 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in BlueLinx by 19.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 199,871 shares of the construction company’s stock worth $20,419,000 after buying an additional 32,693 shares in the last quarter. State Street Corp increased its stake in shares of BlueLinx by 0.6% in the 3rd quarter. State Street Corp now owns 198,003 shares of the construction company’s stock valued at $20,873,000 after buying an additional 1,252 shares during the period. Harbor Capital Advisors Inc. raised its position in shares of BlueLinx by 1.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 138,552 shares of the construction company’s stock worth $14,154,000 after acquiring an additional 1,359 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of BlueLinx by 5.0% during the third quarter. JPMorgan Chase & Co. now owns 92,144 shares of the construction company’s stock valued at $9,714,000 after acquiring an additional 4,363 shares during the period. Institutional investors own 90.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. DA Davidson dropped their price objective on BlueLinx from $137.00 to $119.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Benchmark reduced their price objective on shares of BlueLinx from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Loop Capital dropped their target price on shares of BlueLinx from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Monday. Finally, StockNews.com lowered BlueLinx from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $122.25.

BlueLinx Stock Up 2.3 %

BlueLinx stock opened at $71.70 on Friday. BlueLinx Holdings Inc. has a fifty-two week low of $67.42 and a fifty-two week high of $134.79. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.85 and a quick ratio of 3.26. The firm has a market capitalization of $594.75 million, a price-to-earnings ratio of 11.68 and a beta of 1.82. The company’s 50 day simple moving average is $80.52 and its 200 day simple moving average is $100.93.

BlueLinx (NYSE:BXC) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). BlueLinx had a return on equity of 7.50% and a net margin of 1.80%. The firm had revenue of $710.64 million for the quarter, compared to the consensus estimate of $700.66 million.

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.