Summit Global Investments Raises Stock Holdings in BlueLinx Holdings Inc. (NYSE:BXC)

Summit Global Investments increased its stake in BlueLinx Holdings Inc. (NYSE:BXC) by 21.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,143 shares of the construction company’s stock after purchasing an additional 1,800 shares during the period. Summit Global Investments owned approximately 0.12% of BlueLinx worth $1,149,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. DekaBank Deutsche Girozentrale bought a new position in shares of BlueLinx in the 3rd quarter worth $47,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in BlueLinx by 19.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,410 shares of the construction company’s stock valued at $160,000 after acquiring an additional 230 shares during the last quarter. Raymond James & Associates bought a new position in BlueLinx in the third quarter valued at $205,000. Quadrature Capital Ltd bought a new stake in BlueLinx during the third quarter worth about $240,000. Finally, Mackenzie Financial Corp purchased a new position in shares of BlueLinx in the 4th quarter worth about $261,000. 90.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BXC. Benchmark decreased their price objective on BlueLinx from $144.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday. TheStreet lowered shares of BlueLinx from a “b” rating to a “c” rating in a report on Thursday, February 22nd. Finally, Craig Hallum cut their price objective on shares of BlueLinx from $130.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday.

Insider Buying and Selling

In related news, Director Mitchell B. Lewis sold 5,352 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $116.33, for a total transaction of $622,598.16. Following the completion of the transaction, the director now owns 33,476 shares in the company, valued at $3,894,263.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Mitchell B. Lewis sold 5,352 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $116.33, for a total transaction of $622,598.16. Following the transaction, the director now owns 33,476 shares in the company, valued at $3,894,263.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mitchell B. Lewis sold 314 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $119.09, for a total transaction of $37,394.26. Following the completion of the sale, the director now owns 38,828 shares of the company’s stock, valued at $4,624,026.52. The disclosure for this sale can be found here. Insiders have sold 8,570 shares of company stock valued at $1,000,196 over the last ninety days. 3.38% of the stock is owned by insiders.

BlueLinx Trading Up 0.1 %

Shares of NYSE BXC traded up $0.09 during midday trading on Friday, reaching $102.54. The company had a trading volume of 102,327 shares, compared to its average volume of 80,860. The firm’s fifty day moving average price is $120.02 and its 200-day moving average price is $106.46. The company has a quick ratio of 3.55, a current ratio of 4.71 and a debt-to-equity ratio of 0.88. BlueLinx Holdings Inc. has a one year low of $67.76 and a one year high of $132.67. The stock has a market cap of $888.00 million, a PE ratio of 19.19 and a beta of 1.96.

BlueLinx (NYSE:BXC) last announced its quarterly earnings data on Tuesday, February 20th. The construction company reported $2.64 earnings per share for the quarter. BlueLinx had a return on equity of 14.11% and a net margin of 1.57%. The firm had revenue of $712.53 million during the quarter.

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.