Massachusetts Financial Services Co. MA Lowers Stake in BlueLinx Holdings Inc. (NYSE:BXC)

Massachusetts Financial Services Co. MA reduced its stake in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 2.4% in the third quarter, Holdings Channel reports. The firm owned 27,818 shares of the construction company’s stock after selling 675 shares during the period. Massachusetts Financial Services Co. MA’s holdings in BlueLinx were worth $2,933,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. nVerses Capital LLC raised its holdings in shares of BlueLinx by 200.0% in the second quarter. nVerses Capital LLC now owns 300 shares of the construction company’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of BlueLinx in the second quarter valued at about $39,000. Meeder Asset Management Inc. bought a new stake in shares of BlueLinx in the second quarter valued at about $70,000. Quest Partners LLC raised its holdings in shares of BlueLinx by 43.2% in the third quarter. Quest Partners LLC now owns 1,133 shares of the construction company’s stock valued at $119,000 after acquiring an additional 342 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of BlueLinx by 24.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,097 shares of the construction company’s stock valued at $195,000 after acquiring an additional 418 shares in the last quarter. 90.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BXC shares. DA Davidson lifted their price objective on BlueLinx from $121.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, August 1st. StockNews.com upgraded BlueLinx from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Finally, Craig Hallum lifted their price objective on BlueLinx from $125.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $135.67.

BlueLinx Stock Performance

Shares of BlueLinx stock opened at $125.90 on Wednesday. The company has a market capitalization of $1.06 billion, a PE ratio of 36.60 and a beta of 1.94. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.26 and a current ratio of 4.58. The company has a 50-day simple moving average of $112.07 and a two-hundred day simple moving average of $104.60. BlueLinx Holdings Inc. has a one year low of $85.98 and a one year high of $134.79.

BlueLinx Company Profile

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.