Cornercap Investment Counsel Inc. Cuts Holdings in BlueLinx Holdings Inc. (NYSE:BXC)

Cornercap Investment Counsel Inc. decreased its stake in shares of BlueLinx Holdings Inc. (NYSE:BXC) by 51.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,606 shares of the construction company’s stock after selling 2,712 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in BlueLinx were worth $275,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of BXC. Victory Capital Management Inc. increased its holdings in BlueLinx by 600.3% during the 3rd quarter. Victory Capital Management Inc. now owns 218,685 shares of the construction company’s stock worth $23,054,000 after purchasing an additional 187,456 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of BlueLinx by 151.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 137,193 shares of the construction company’s stock worth $14,463,000 after acquiring an additional 82,657 shares in the last quarter. Meros Investment Management LP acquired a new position in shares of BlueLinx during the 2nd quarter worth about $3,663,000. American Century Companies Inc. boosted its position in shares of BlueLinx by 12.4% during the 2nd quarter. American Century Companies Inc. now owns 268,059 shares of the construction company’s stock worth $24,954,000 after acquiring an additional 29,582 shares in the last quarter. Finally, Denali Advisors LLC boosted its position in shares of BlueLinx by 53.8% during the 2nd quarter. Denali Advisors LLC now owns 66,835 shares of the construction company’s stock worth $6,222,000 after acquiring an additional 23,392 shares in the last quarter. Hedge funds and other institutional investors own 90.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

BlueLinx Price Performance

BXC stock opened at $120.39 on Monday. BlueLinx Holdings Inc. has a 52-week low of $84.43 and a 52-week high of $132.67. The stock’s fifty day simple moving average is $108.33 and its 200-day simple moving average is $103.49. The company has a quick ratio of 3.26, a current ratio of 4.58 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 35.00 and a beta of 1.94.

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.