American Century Companies Inc. increased its stake in BlueLinx Holdings Inc. (NYSE:BXC – Free Report) by 18.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 137,478 shares of the construction company’s stock after acquiring an additional 21,223 shares during the quarter. American Century Companies Inc. owned about 1.51% of BlueLinx worth $9,343,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the business. Rhumbline Advisers increased its holdings in BlueLinx by 1.3% in the first quarter. Rhumbline Advisers now owns 14,239 shares of the construction company’s stock worth $968,000 after purchasing an additional 185 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in BlueLinx in the first quarter worth approximately $342,000. Federated Hermes Inc. increased its holdings in BlueLinx by 22.8% in the first quarter. Federated Hermes Inc. now owns 22,418 shares of the construction company’s stock worth $1,524,000 after purchasing an additional 4,160 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in BlueLinx in the first quarter worth approximately $34,000. Finally, Privium Fund Management UK Ltd bought a new stake in BlueLinx in the first quarter worth approximately $202,000. 87.01% of the stock is currently owned by institutional investors.
Insider Activity
In other news, Director Mitchell B. Lewis sold 15,678 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $85.49, for a total transaction of $1,340,312.22. Following the completion of the sale, the director now owns 67,530 shares in the company, valued at $5,773,139.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Mitchell B. Lewis sold 15,678 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $85.49, for a total transaction of $1,340,312.22. Following the completion of the sale, the director now owns 67,530 shares in the company, valued at $5,773,139.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mitchell B. Lewis sold 4,376 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $88.43, for a total value of $386,969.68. Following the sale, the director now owns 57,229 shares of the company’s stock, valued at approximately $5,060,760.47. The disclosure for this sale can be found here. Insiders sold a total of 24,040 shares of company stock worth $2,064,632 over the last quarter. 4.50% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
View Our Latest Research Report on BXC
BlueLinx Trading Up 3.5 %
NYSE BXC opened at $92.36 on Monday. The company has a market cap of $831.52 million, a price-to-earnings ratio of 6.36 and a beta of 1.88. BlueLinx Holdings Inc. has a 52 week low of $57.49 and a 52 week high of $98.33. The business has a 50 day moving average price of $89.94 and a 200-day moving average price of $82.77. The company has a quick ratio of 3.10, a current ratio of 4.65 and a debt-to-equity ratio of 0.89.
BlueLinx (NYSE:BXC – Get Free Report) last released its quarterly earnings data on Tuesday, August 1st. The construction company reported $2.75 EPS for the quarter, missing the consensus estimate of $2.96 by ($0.21). The firm had revenue of $815.97 million for the quarter, compared to the consensus estimate of $893.80 million. BlueLinx had a net margin of 3.80% and a return on equity of 23.13%. As a group, equities analysts expect that BlueLinx Holdings Inc. will post 9.65 earnings per share for the current fiscal year.
BlueLinx Company Profile
BlueLinx Holdings Inc, together with its subsidiaries, distributes residential and commercial building products in the United States. The company distributes specialty products comprising engineered wood, siding, millwork, outdoor living, specialty lumber and panels, and industrial products; and structural products include lumber, plywood, oriented strand boards, rebars and remesh, and other wood products primarily that are used for structural support in construction projects.
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