Summit Global Investments Acquires 754 Shares of BlueLinx Holdings Inc. (NYSE:BXC)

Summit Global Investments boosted its position in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 8.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,256 shares of the construction company’s stock after purchasing an additional 754 shares during the quarter. Summit Global Investments owned about 0.11% of BlueLinx worth $862,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James & Associates raised its holdings in BlueLinx by 4.6% during the 4th quarter. Raymond James & Associates now owns 2,616 shares of the construction company’s stock worth $296,000 after buying an additional 116 shares during the period. Mackenzie Financial Corp acquired a new position in shares of BlueLinx during the 4th quarter worth approximately $261,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position 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 acquiring an additional 230 shares during the last quarter. New York State Common Retirement Fund increased its position in BlueLinx by 6.4% during the 4th quarter. New York State Common Retirement Fund now owns 23,675 shares of the construction company’s stock worth $2,683,000 after buying an additional 1,424 shares during the period. Finally, Russell Investments Group Ltd. grew its position in shares of BlueLinx by 102.4% during the 4th quarter. Russell Investments Group Ltd. now owns 4,988 shares of the construction company’s stock worth $565,000 after purchasing an additional 2,524 shares in the last quarter. 90.83% of the stock is currently owned by institutional investors.

BlueLinx Trading Down 2.1 %

Shares of BlueLinx stock traded down $2.07 on Tuesday, hitting $95.45. 52,890 shares of the company’s stock traded hands, compared to its average volume of 87,463. The company has a market capitalization of $826.79 million, a price-to-earnings ratio of 17.91 and a beta of 1.90. BlueLinx Holdings Inc. has a one year low of $67.76 and a one year high of $132.67. The company has a fifty day moving average of $100.99 and a two-hundred day moving average of $109.46. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.88 and a quick ratio of 3.22.

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

Analyst Ratings Changes

A number of research analysts recently commented on BXC shares. Benchmark reaffirmed a “buy” rating and issued a $135.00 price target on shares of BlueLinx in a research note on Wednesday, May 29th. Craig Hallum boosted their target price on shares of BlueLinx from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. StockNews.com downgraded shares of BlueLinx from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, DA Davidson boosted their price objective on shares of BlueLinx from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, BlueLinx has an average rating of “Moderate Buy” and a consensus target price of $135.67.

BlueLinx 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.