BlueLinx (NYSE:BXC) Trading 7% Higher

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BlueLinx Holdings Inc. (NYSE:BXC)’s share price traded up 7% during mid-day trading on Tuesday . The company traded as high as $14.86 and last traded at $14.58, 128,000 shares traded hands during trading. A decline of 16% from the average session volume of 152,598 shares. The stock had previously closed at $13.63.

A number of equities research analysts have issued reports on the company. Zacks Investment Research raised BlueLinx from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 7th. TheStreet raised BlueLinx from a “d+” rating to a “c-” rating in a research report on Wednesday, October 16th. Finally, ValuEngine raised BlueLinx from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th.

The stock has a market cap of $125.68 million, a P/E ratio of -4.03 and a beta of 1.60. The business has a 50-day simple moving average of $12.23 and a 200-day simple moving average of $22.05.

BlueLinx (NYSE:BXC) last issued its quarterly earnings results on Tuesday, November 5th. The construction company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.80). The firm had revenue of $678.67 million during the quarter, compared to the consensus estimate of $712.30 million. As a group, equities analysts predict that BlueLinx Holdings Inc. will post -1.12 EPS for the current year.

In other BlueLinx news, insider Shyam K. Reddy purchased 5,500 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was bought at an average cost of $18.21 per share, for a total transaction of $100,155.00. Following the completion of the acquisition, the insider now directly owns 20,803 shares in the company, valued at $378,822.63. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mitchell B. Lewis purchased 11,900 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were acquired at an average price of $15.81 per share, with a total value of $188,139.00. Following the completion of the acquisition, the chief executive officer now owns 160,912 shares of the company’s stock, valued at $2,544,018.72. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 18,900 shares of company stock valued at $309,594. Corporate insiders own 5.07% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in shares of BlueLinx by 771.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,891 shares of the construction company’s stock valued at $37,000 after purchasing an additional 1,674 shares in the last quarter. Atria Investments LLC acquired a new position in shares of BlueLinx in the second quarter valued at $4,029,000. Metropolitan Life Insurance Co NY acquired a new position in shares of BlueLinx in the third quarter valued at $100,000. SG Americas Securities LLC acquired a new position in shares of BlueLinx in the third quarter valued at $151,000. Finally, California Public Employees Retirement System raised its stake in shares of BlueLinx by 14.2% in the third quarter. California Public Employees Retirement System now owns 12,040 shares of the construction company’s stock valued at $389,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors own 85.29% 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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