Renaissance Technologies LLC Reduces Position in BlueLinx Holdings Inc. $BXC

Renaissance Technologies LLC decreased its position in BlueLinx Holdings Inc. (NYSE:BXC) by 18.8% during the 1st quarter, Holdings Channel reports. The firm owned 36,600 shares of the construction company’s stock after selling 8,500 shares during the period. Renaissance Technologies LLC’s holdings in BlueLinx were worth $1,983,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BXC. Towle & Co. raised its holdings in BlueLinx by 113.8% during the 4th quarter. Towle & Co. now owns 167,196 shares of the construction company’s stock valued at $10,271,000 after buying an additional 89,010 shares during the last quarter. Gendell Jeffrey L grew its holdings in BlueLinx by 9.0% in the 4th quarter. Gendell Jeffrey L now owns 718,993 shares of the construction company’s stock worth $44,168,000 after acquiring an additional 59,657 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of BlueLinx in the fourth quarter valued at about $3,275,000. Charles Schwab Investment Management Inc. increased its position in shares of BlueLinx by 16.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 304,794 shares of the construction company’s stock valued at $18,723,000 after acquiring an additional 42,904 shares during the period. Finally, Atom Investors LP bought a new position in shares of BlueLinx during the fourth quarter valued at about $2,469,000. 90.83% of the stock is owned by hedge funds and other institutional investors.

BlueLinx Stock Down 1.7%

Shares of NYSE BXC opened at $89.83 on Wednesday. The company has a current ratio of 4.01, a quick ratio of 2.59 and a debt-to-equity ratio of 0.95. BlueLinx Holdings Inc. has a 12 month low of $44.78 and a 12 month high of $93.80. The firm has a market capitalization of $706.05 million, a PE ratio of -359.30 and a beta of 1.44. The firm has a fifty day simple moving average of $59.49 and a two-hundred day simple moving average of $59.24.

BlueLinx (NYSE:BXC) last announced its earnings results on Tuesday, August 4th. The construction company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.85. The firm had revenue of $814.08 million for the quarter, compared to analyst estimates of $793.72 million. BlueLinx had a negative net margin of 0.06% and a positive return on equity of 0.13%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of BlueLinx from a “hold” rating to a “buy” rating in a report on Saturday. Benchmark boosted their price target on BlueLinx from $75.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BlueLinx in a research report on Wednesday, May 20th. Finally, DA Davidson increased their price objective on BlueLinx from $65.00 to $84.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $83.50.

BlueLinx Profile

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.