BlueLinx (NYSE:BXC) Trading Down 20.9%

BlueLinx Holdings Inc. (NYSE:BXC) dropped 20.9% on Friday . The company traded as low as $14.34 and last traded at $15.42, approximately 1,874,545 shares were traded during mid-day trading. An increase of 1,062% from the average daily volume of 161,350 shares. The stock had previously closed at $19.50.

BXC has been the topic of a number of research analyst reports. Zacks Investment Research upgraded BlueLinx from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 7th. B. Riley reduced their price objective on BlueLinx from $25.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Finally, ValuEngine upgraded BlueLinx from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th.

The stock has a market capitalization of $129.80 million, a P/E ratio of -6.07 and a beta of 1.59. The firm has a 50-day moving average price of $13.64 and a 200 day moving average price of $20.87.

Institutional investors have recently made changes to their positions in the company. Metropolitan Life Insurance Co NY bought a new position in shares of BlueLinx during the 3rd quarter valued at about $100,000. SG Americas Securities LLC increased its position in shares of BlueLinx by 59.6% during the 4th quarter. SG Americas Securities LLC now owns 7,477 shares of the construction company’s stock valued at $107,000 after purchasing an additional 2,793 shares during the last quarter. Barclays PLC grew its position in BlueLinx by 100.3% during the 4th quarter. Barclays PLC now owns 9,126 shares of the construction company’s stock worth $129,000 after acquiring an additional 4,569 shares during the last quarter. California Public Employees Retirement System grew its position in BlueLinx by 14.2% during the 3rd quarter. California Public Employees Retirement System now owns 12,040 shares of the construction company’s stock worth $389,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Rhumbline Advisers grew its position in BlueLinx by 9.3% during the 3rd quarter. Rhumbline Advisers now owns 14,225 shares of the construction company’s stock worth $460,000 after acquiring an additional 1,206 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

BlueLinx Company Profile (NYSE:BXC)

BlueLinx Holdings Inc, together with its subsidiaries, distributes building and industrial products in the United States. It distributes structural products, including plywood, oriented strand board, rebar and remesh, lumber, spruce, and other wood products primarily used for structural support, walls, and flooring in construction projects; and specialty products comprising engineered wood, moulding, siding, cedar, metal, and insulation products.

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