Lord Abbett & CO. LLC Has $6.11 Million Position in BlueLinx Holdings Inc. (NYSE:BXC)

Lord Abbett & CO. LLC trimmed its position in BlueLinx Holdings Inc. (NYSE:BXC) by 1.9% during the third quarter, HoldingsChannel.com reports. The fund owned 57,921 shares of the construction company’s stock after selling 1,127 shares during the period. Lord Abbett & CO. LLC’s holdings in BlueLinx were worth $6,106,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BXC. Summit Global Investments boosted its position in shares of BlueLinx by 8.9% during the second quarter. Summit Global Investments now owns 9,256 shares of the construction company’s stock worth $862,000 after purchasing an additional 754 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in BlueLinx by 2.0% in the second quarter. SummerHaven Investment Management LLC now owns 7,853 shares of the construction company’s stock valued at $731,000 after acquiring an additional 151 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased 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 worth $195,000 after acquiring an additional 418 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of BlueLinx during the second quarter worth about $39,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of BlueLinx by 9.9% during the 2nd quarter. Principal Financial Group Inc. now owns 6,047 shares of the construction company’s stock valued at $563,000 after purchasing an additional 545 shares in the last quarter. Institutional investors own 90.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

BlueLinx Trading Down 1.1 %

NYSE BXC opened at $117.52 on Tuesday. The stock has a market capitalization of $984.94 million, a price-to-earnings ratio of 34.16 and a beta of 2.05. BlueLinx Holdings Inc. has a 52 week low of $87.67 and a 52 week high of $134.79. The stock’s 50 day moving average price is $117.38 and its two-hundred day moving average price is $106.76. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.26 and a current ratio of 4.58.

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.