Summit Global Investments Sells 2,664 Shares of BlueLinx Holdings Inc. (NYSE:BXC)

Summit Global Investments decreased its position in BlueLinx Holdings Inc. (NYSE:BXC) by 23.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,881 shares of the construction company’s stock after selling 2,664 shares during the period. Summit Global Investments’ holdings in BlueLinx were worth $907,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its position in BlueLinx by 59.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 377 shares of the construction company’s stock valued at $40,000 after purchasing an additional 140 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in BlueLinx in the fourth quarter worth about $61,000. Quest Partners LLC grew its holdings in BlueLinx by 43.2% during the 3rd quarter. Quest Partners LLC now owns 1,133 shares of the construction company’s stock worth $119,000 after acquiring an additional 342 shares in the last quarter. AlphaQuest LLC grew its holdings in BlueLinx by 28.4% during the 4th quarter. AlphaQuest LLC now owns 1,455 shares of the construction company’s stock worth $149,000 after acquiring an additional 322 shares in the last quarter. Finally, FMR LLC increased its position in BlueLinx by 10.5% during the 3rd quarter. FMR LLC now owns 1,545 shares of the construction company’s stock valued at $163,000 after purchasing an additional 147 shares during the period. Hedge funds and other institutional investors own 90.83% of the company’s stock.

BlueLinx Price Performance

Shares of BXC stock opened at $80.74 on Monday. The firm has a market capitalization of $669.71 million, a price-to-earnings ratio of 13.15 and a beta of 2.18. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.26 and a current ratio of 4.85. The stock’s 50-day simple moving average is $94.24 and its 200-day simple moving average is $104.98. BlueLinx Holdings Inc. has a fifty-two week low of $73.01 and a fifty-two week high of $134.79.

BlueLinx (NYSE:BXC) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The company had revenue of $710.64 million for the quarter, compared to analyst estimates of $700.66 million. BlueLinx had a net margin of 1.80% and a return on equity of 7.50%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Benchmark dropped their price objective on shares of BlueLinx from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. DA Davidson dropped their price objective on BlueLinx from $137.00 to $119.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. StockNews.com lowered shares of BlueLinx from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, Loop Capital cut their price objective on shares of BlueLinx from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BlueLinx currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.50.

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.