Short Interest in BlueLinx Holdings Inc. (NYSE:BXC) Decreases By 6.5%

BlueLinx Holdings Inc. (NYSE:BXC) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 194,000 shares, a drop of 6.5% from the September 15th total of 207,400 shares. Based on an average trading volume of 92,600 shares, the days-to-cover ratio is currently 2.1 days. Approximately 2.4% of the company’s shares are sold short.

Institutional Investors Weigh In On BlueLinx

Several hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in BlueLinx by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 584,752 shares of the construction company’s stock valued at $54,433,000 after purchasing an additional 16,753 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of BlueLinx by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 501,333 shares of the construction company’s stock worth $65,294,000 after acquiring an additional 5,277 shares in the last quarter. American Century Companies Inc. lifted its position in BlueLinx by 12.4% during the second quarter. American Century Companies Inc. now owns 268,059 shares of the construction company’s stock valued at $24,954,000 after acquiring an additional 29,582 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in BlueLinx by 2.1% in the first quarter. Bridgeway Capital Management LLC now owns 145,687 shares of the construction company’s stock valued at $18,974,000 after acquiring an additional 2,975 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in BlueLinx by 4.3% in the fourth quarter. Wellington Management Group LLP now owns 140,142 shares of the construction company’s stock worth $15,879,000 after purchasing an additional 5,842 shares during the last quarter. Hedge funds and other institutional investors own 90.83% of the company’s stock.

BlueLinx Stock Up 3.5 %

NYSE BXC traded up $3.84 on Wednesday, reaching $112.80. 37,451 shares of the stock traded hands, compared to its average volume of 82,924. BlueLinx has a 12 month low of $67.76 and a 12 month high of $132.67. The company has a market cap of $977.07 million, a price-to-earnings ratio of 21.16 and a beta of 1.94. The company has a fifty day moving average price of $101.58 and a 200-day moving average price of $104.21. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.37 and a current ratio of 4.88.

BlueLinx (NYSE:BXC) last released its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.53 earnings per share for the quarter. BlueLinx had a net margin of 1.26% and a return on equity of 12.14%. The company had revenue of $768.36 million during the quarter.

Wall Street Analyst Weigh In

BXC has been the topic of several recent analyst reports. DA Davidson increased their price target on BlueLinx from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Craig Hallum increased their target price on BlueLinx from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, StockNews.com raised shares of BlueLinx from a “hold” rating to a “buy” rating in a research note on Saturday. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, BlueLinx presently has a consensus rating of “Buy” and a consensus target price of $135.67.

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.