Divisadero Street Capital Management LP Raises Stock Position in BlueLinx Holdings Inc. $BXC

Divisadero Street Capital Management LP grew its holdings in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 24.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 103,141 shares of the construction company’s stock after purchasing an additional 20,000 shares during the quarter. Divisadero Street Capital Management LP’s holdings in BlueLinx were worth $7,538,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Catawba River Capital purchased a new position in shares of BlueLinx in the 3rd quarter valued at approximately $7,431,000. Mutual Advisors LLC grew its holdings in shares of BlueLinx by 87.3% during the third quarter. Mutual Advisors LLC now owns 16,280 shares of the construction company’s stock valued at $1,167,000 after buying an additional 7,589 shares during the last quarter. Third Avenue Management LLC increased its position in shares of BlueLinx by 55.2% in the 2nd quarter. Third Avenue Management LLC now owns 46,357 shares of the construction company’s stock valued at $3,448,000 after acquiring an additional 16,488 shares during the period. Towle & Co. raised its stake in BlueLinx by 41.3% in the 3rd quarter. Towle & Co. now owns 78,186 shares of the construction company’s stock worth $5,714,000 after acquiring an additional 22,855 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its position in BlueLinx by 150.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 26,445 shares of the construction company’s stock worth $1,933,000 after acquiring an additional 15,887 shares during the period. Institutional investors and hedge funds own 90.83% of the company’s stock.

Wall Street Analysts Forecast Growth

BXC has been the topic of a number of recent research reports. Benchmark dropped their target price on BlueLinx from $83.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BlueLinx in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $86.00.

BlueLinx Stock Down 2.8%

Shares of BXC opened at $49.31 on Monday. The company has a market capitalization of $388.03 million, a price-to-earnings ratio of -4,930,500.00 and a beta of 1.62. BlueLinx Holdings Inc. has a 52 week low of $48.92 and a 52 week high of $88.30. The stock’s 50-day moving average price is $69.72 and its 200-day moving average price is $68.74. The company has a quick ratio of 3.12, a current ratio of 4.66 and a debt-to-equity ratio of 0.96.

BlueLinx (NYSE:BXC) last announced its quarterly earnings results on Tuesday, February 24th. The construction company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.05). BlueLinx had a net margin of 0.01% and a negative return on equity of 0.23%. The company had revenue of $715.80 million for the quarter, compared to analysts’ expectations of $703.84 million.

About BlueLinx

BlueLinx Corporation is a leading distributor of building products in the United States, serving professional builders, contractors and industrial customers. The company offers a comprehensive portfolio that includes lumber, engineered wood products, plywood, oriented strand board, siding, railing, millwork and specialty construction materials. Through its nationwide network of distribution centers, BlueLinx provides inventory management, delivery and supply-chain solutions designed to help customers streamline operations and reduce carrying costs.

Founded in 2004 as a spin-off from Georgia-Pacific’s distribution business, BlueLinx has developed a broad product line that spans both residential and commercial construction markets.