Denali Advisors LLC Has $5.66 Million Stock Position in BlueLinx Holdings Inc. (NYSE:BXC)

Denali Advisors LLC cut its holdings in BlueLinx Holdings Inc. (NYSE:BXC) by 19.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,443 shares of the construction company’s stock after selling 10,218 shares during the period. BlueLinx comprises approximately 1.7% of Denali Advisors LLC’s portfolio, making the stock its 3rd biggest holding. Denali Advisors LLC owned about 0.50% of BlueLinx worth $5,658,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of BlueLinx by 305.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 564 shares of the construction company’s stock valued at $73,000 after acquiring an additional 425 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in BlueLinx by 19.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,410 shares of the construction company’s stock valued at $160,000 after purchasing an additional 230 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in BlueLinx during the fourth quarter valued at $205,000. Virtu Financial LLC bought a new position in BlueLinx during the fourth quarter valued at $217,000. Finally, Chicago Partners Investment Group LLC bought a new position in BlueLinx during the fourth quarter valued at $224,000. 90.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BXC shares. Craig Hallum reduced their price objective on BlueLinx from $130.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Benchmark reissued a “buy” rating and set a $135.00 price objective on shares of BlueLinx in a report on Wednesday, May 29th.

BlueLinx Price Performance

Shares of BXC stock traded down $0.37 on Wednesday, reaching $89.45. The company’s stock had a trading volume of 40,245 shares, compared to its average volume of 79,223. The company has a quick ratio of 3.22, a current ratio of 4.71 and a debt-to-equity ratio of 0.88. BlueLinx Holdings Inc. has a 12-month low of $67.76 and a 12-month high of $132.67. The company has a market capitalization of $774.64 million, a P/E ratio of 16.87 and a beta of 1.90. The stock’s 50 day simple moving average is $100.65 and its 200-day simple moving average is $111.55.

BlueLinx (NYSE:BXC) last released its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter. BlueLinx had a return on equity of 14.11% and a net margin of 1.57%. The business had revenue of $726.24 million for the quarter.

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.