BlueLinx (NYSE:BXC) Sets New 52-Week Low – Should You Sell?

BlueLinx Holdings Inc. (NYSE:BXC) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $86.21 and last traded at $92.06, with a volume of 198716 shares traded. The stock had previously closed at $99.70.

BlueLinx Stock Down 7.7 %

The business’s 50-day moving average price is $106.09 and its 200-day moving average price is $107.75. 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 firm has a market capitalization of $771.42 million, a PE ratio of 26.76 and a beta of 2.04.

BlueLinx (NYSE:BXC) last issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). BlueLinx had a net margin of 1.01% and a return on equity of 10.44%. The business had revenue of $710.64 million for the quarter, compared to the consensus estimate of $700.66 million.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BXC. Public Employees Retirement System of Ohio boosted its position in shares of BlueLinx by 59.1% during the third quarter. Public Employees Retirement System of Ohio now owns 377 shares of the construction company’s stock worth $40,000 after purchasing an additional 140 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in shares of BlueLinx during the 4th quarter worth about $61,000. Quest Partners LLC grew its stake in BlueLinx by 43.2% in the 3rd quarter. Quest Partners LLC now owns 1,133 shares of the construction company’s stock valued at $119,000 after buying an additional 342 shares during the last quarter. Meeder Asset Management Inc. grew its stake in BlueLinx by 50.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,135 shares of the construction company’s stock valued at $120,000 after buying an additional 379 shares during the last quarter. Finally, AlphaQuest LLC lifted its holdings in shares of BlueLinx by 28.4% during the 4th quarter. AlphaQuest LLC now owns 1,455 shares of the construction company’s stock worth $149,000 after acquiring an additional 322 shares during the period. Institutional investors own 90.83% of the company’s stock.

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.