The Manufacturers Life Insurance Company Trims Position in BlueLinx Holdings Inc. (NYSE:BXC)

The Manufacturers Life Insurance Company lessened its position in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 29.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,081 shares of the construction company’s stock after selling 1,299 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in BlueLinx were worth $325,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of BXC. Victory Capital Management Inc. grew its holdings in BlueLinx by 600.3% during the third quarter. Victory Capital Management Inc. now owns 218,685 shares of the construction company’s stock valued at $23,054,000 after purchasing an additional 187,456 shares during the period. Harbor Capital Advisors Inc. grew its holdings in BlueLinx by 151.6% during the third quarter. Harbor Capital Advisors Inc. now owns 137,193 shares of the construction company’s stock valued at $14,463,000 after purchasing an additional 82,657 shares during the period. Meros Investment Management LP bought a new stake in BlueLinx during the second quarter valued at about $3,663,000. Charles Schwab Investment Management Inc. grew its holdings in BlueLinx by 28.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 167,178 shares of the construction company’s stock valued at $17,624,000 after purchasing an additional 36,968 shares during the period. Finally, American Century Companies Inc. grew its holdings in BlueLinx by 12.4% during the second quarter. American Century Companies Inc. now owns 268,059 shares of the construction company’s stock valued at $24,954,000 after purchasing an additional 29,582 shares during the period. Institutional investors own 90.83% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised BlueLinx from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $135.67.

BlueLinx Stock Performance

NYSE BXC opened at $118.79 on Monday. The firm has a market cap of $995.58 million, a price-to-earnings ratio of 34.53 and a beta of 2.05. The company has a quick ratio of 3.26, a current ratio of 4.58 and a debt-to-equity ratio of 0.88. The business has a 50-day moving average price of $117.17 and a 200-day moving average price of $106.64. BlueLinx Holdings Inc. has a twelve month low of $87.67 and a twelve month 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.