Bank of New York Mellon Corp Sells 5,846 Shares of BlueLinx Holdings Inc. (NYSE:BXC)

Bank of New York Mellon Corp lessened its stake in BlueLinx Holdings Inc. (NYSE:BXC) by 11.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,197 shares of the construction company’s stock after selling 5,846 shares during the period. Bank of New York Mellon Corp owned about 0.55% of BlueLinx worth $4,394,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BXC. Russell Investments Group Ltd. lifted its stake in shares of BlueLinx by 102.4% in the fourth quarter. Russell Investments Group Ltd. now owns 4,988 shares of the construction company’s stock valued at $565,000 after buying an additional 2,524 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of BlueLinx by 6.2% in the fourth quarter. BNP Paribas Financial Markets now owns 11,899 shares of the construction company’s stock valued at $1,348,000 after buying an additional 694 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of BlueLinx by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 554,458 shares of the construction company’s stock valued at $62,828,000 after buying an additional 17,891 shares during the period. Principal Financial Group Inc. lifted its stake in shares of BlueLinx by 23.5% in the fourth quarter. Principal Financial Group Inc. now owns 6,473 shares of the construction company’s stock valued at $733,000 after buying an additional 1,233 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in BlueLinx in the fourth quarter worth about $205,000. Institutional investors own 90.83% of the company’s stock.

BlueLinx Stock Up 4.7 %

Shares of BXC opened at $102.08 on Friday. The company has a current ratio of 4.88, a quick ratio of 3.37 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. The firm’s 50 day moving average is $102.33 and its 200-day moving average is $107.04. The stock has a market capitalization of $884.22 million, a PE ratio of 19.15 and a beta of 1.95.

BlueLinx (NYSE:BXC) last issued its earnings results on Tuesday, July 30th. The construction company reported $1.53 earnings per share for the quarter. BlueLinx had a return on equity of 12.14% and a net margin of 1.26%. The firm had revenue of $768.36 million for the quarter.

Analyst Ratings Changes

Several research analysts recently issued reports on BXC shares. StockNews.com raised shares of BlueLinx from a “hold” rating to a “buy” rating in a research report on Tuesday, August 27th. Craig Hallum raised their price objective on shares of BlueLinx from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Benchmark reaffirmed a “buy” rating and set a $135.00 price objective on shares of BlueLinx in a report on Wednesday, May 29th. Finally, DA Davidson raised their price objective on shares of BlueLinx from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, BlueLinx currently has a consensus rating of “Buy” and an average target price of $135.67.

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.