Koss Olinger Consulting LLC Raises Stake in BlueLinx Holdings Inc. (NYSE:BXC)

Koss Olinger Consulting LLC raised its position in BlueLinx Holdings Inc. (NYSE:BXC) by 5.5% in the third quarter, Holdings Channel reports. The fund owned 4,967 shares of the construction company’s stock after buying an additional 260 shares during the period. Koss Olinger Consulting LLC’s holdings in BlueLinx were worth $524,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in BlueLinx during the fourth quarter worth approximately $217,000. Wellington Management Group LLP raised its holdings in BlueLinx by 4.3% during 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 in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in BlueLinx by 305.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 564 shares of the construction company’s stock worth $73,000 after purchasing an additional 425 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in BlueLinx during the first quarter worth approximately $218,000. Finally, GSA Capital Partners LLP acquired a new stake in BlueLinx during the first quarter worth approximately $1,501,000. Hedge funds and other institutional investors own 90.83% of the company’s stock.

BlueLinx Stock Performance

Shares of BlueLinx stock opened at $109.54 on Monday. The firm’s fifty day simple moving average is $102.15 and its 200-day simple moving average is $103.81. The stock has a market capitalization of $948.84 million, a price-to-earnings ratio of 20.55 and a beta of 1.94. BlueLinx Holdings Inc. has a 12 month low of $67.76 and a 12 month high of $132.67. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.88 and a quick ratio of 3.37.

BlueLinx (NYSE:BXC) last announced its earnings results on Tuesday, July 30th. The construction company reported $1.53 EPS for the quarter. The business had revenue of $768.36 million for the quarter. BlueLinx had a net margin of 1.26% and a return on equity of 12.14%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BXC. Craig Hallum raised their price objective on shares of BlueLinx from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. DA Davidson raised their price objective on shares of BlueLinx from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, StockNews.com raised shares of BlueLinx from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, BlueLinx has a consensus rating of “Buy” and an average price target of $135.67.

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.