Capstone Investment Advisors LLC Takes Position in BlueLinx Holdings Inc. (NYSE:BXC)

Capstone Investment Advisors LLC purchased a new stake in BlueLinx Holdings Inc. (NYSE:BXC) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,671 shares of the construction company’s stock, valued at approximately $218,000.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position in shares of BlueLinx by 305.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 564 shares of the construction company’s stock valued at $73,000 after purchasing an additional 425 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in BlueLinx by 19.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,410 shares of the construction company’s stock worth $160,000 after purchasing an additional 230 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in BlueLinx during the fourth quarter worth about $205,000. Virtu Financial LLC bought a new stake in BlueLinx during the fourth quarter worth about $217,000. Finally, Chicago Partners Investment Group LLC bought a new stake in BlueLinx during the fourth quarter worth about $224,000. 90.83% of the stock is currently owned by hedge funds and other institutional investors.

BlueLinx Stock Up 1.1 %

BXC opened at $91.29 on Thursday. The company has a market cap of $790.75 million, a P/E ratio of 17.13 and a beta of 1.90. The business’s 50-day moving average price is $98.27 and its 200-day moving average price is $110.65. The company has a current ratio of 4.71, a quick ratio of 3.22 and a debt-to-equity ratio of 0.88. BlueLinx Holdings Inc. has a 12 month low of $67.76 and a 12 month high of $132.67.

BlueLinx (NYSE:BXC) last announced its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter. BlueLinx had a return on equity of 14.11% and a net margin of 1.57%. The company had revenue of $726.24 million for the quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $135.00 price target on shares of BlueLinx in a research note on Wednesday, May 29th. Craig Hallum decreased their price objective on BlueLinx from $130.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd.

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.