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Precision Wealth Strategies LLC Acquires 1,158 Shares of BlueLinx Holdings Inc. (NYSE:BXC)

Financial News Live ·  Jan 3, 2023 10:12

Precision Wealth Strategies LLC boosted its position in BlueLinx Holdings Inc. (NYSE:BXC – Get Rating) by 25.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,761 shares of the construction company's stock after buying an additional 1,158 shares during the period. Precision Wealth Strategies LLC owned approximately 0.06% of BlueLinx worth $382,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Steward Partners Investment Advisory LLC lifted its holdings in BlueLinx by 45.9% in the second quarter. Steward Partners Investment Advisory LLC now owns 639 shares of the construction company's stock valued at $43,000 after buying an additional 201 shares during the period. Covestor Ltd acquired a new position in BlueLinx in the first quarter valued at $50,000. Amalgamated Bank acquired a new position in BlueLinx in the first quarter valued at $108,000. JBF Capital Inc. acquired a new position in BlueLinx in the second quarter valued at $134,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in BlueLinx in the second quarter valued at $167,000. Institutional investors and hedge funds own 84.90% of the company's stock.

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BlueLinx Price Performance

Shares of NYSE BXC opened at $73.05 on Tuesday. The firm's 50-day moving average price is $68.60 and its 200-day moving average price is $69.79. BlueLinx Holdings Inc. has a 1-year low of $57.49 and a 1-year high of $100.01. The firm has a market capitalization of $660.37 million, a P/E ratio of 2.07 and a beta of 1.78. The company has a current ratio of 4.24, a quick ratio of 2.28 and a debt-to-equity ratio of 1.00.

BlueLinx (NYSE:BXC – Get Rating) last posted its earnings results on Tuesday, November 1st. The construction company reported $6.38 EPS for the quarter, topping the consensus estimate of $5.40 by $0.98. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.07 billion. BlueLinx had a net margin of 7.38% and a return on equity of 70.64%. Equities research analysts anticipate that BlueLinx Holdings Inc. will post 30.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of BlueLinx from a "hold" rating to a "buy" rating in a report on Wednesday, November 30th.

About BlueLinx

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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, industrial products, cedar, moulding, siding, metal, and insulation products; and structural products include lumber, plywood, oriented strand boards, rebars and remesh, spruce, and other wood products primarily that are used for structural support in construction projects.

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