Rhumbline Advisers grew its position in Boise Cascade L.L.C. (NYSE:BCC) by 16.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,732 shares of the construction company’s stock after acquiring an additional 12,710 shares during the quarter. Rhumbline Advisers owned about 0.24% of Boise Cascade worth $3,620,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System grew its holdings in Boise Cascade by 223.5% during the 4th quarter. Arizona State Retirement System now owns 64,769 shares of the construction company’s stock worth $2,584,000 after acquiring an additional 44,748 shares in the last quarter. Capital Fund Management S.A. purchased a new stake in shares of Boise Cascade during the fourth quarter valued at about $403,000. Pinebridge Investments L.P. lifted its position in shares of Boise Cascade by 35.1% during the fourth quarter. Pinebridge Investments L.P. now owns 66,977 shares of the construction company’s stock valued at $2,673,000 after buying an additional 17,393 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Boise Cascade by 31.2% during the fourth quarter. Wells Fargo & Company MN now owns 178,736 shares of the construction company’s stock valued at $7,131,000 after buying an additional 42,516 shares during the last quarter. Finally, Wealth Advisors of Tampa Bay LLC purchased a new stake in shares of Boise Cascade during the fourth quarter valued at about $624,000. Hedge funds and other institutional investors own 94.78% of the company’s stock.
In other news, SVP John T. Sahlberg sold 6,582 shares of the business’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $39.11, for a total transaction of $257,422.02. Following the completion of the transaction, the senior vice president now directly owns 73,385 shares of the company’s stock, valued at $2,870,087.35. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.
Several brokerages recently commented on BCC. BMO Capital Markets reissued a “hold” rating and set a $36.00 price target on shares of Boise Cascade in a research report on Thursday, January 25th. Zacks Investment Research raised shares of Boise Cascade from a “hold” rating to a “strong-buy” rating and set a $52.00 price objective on the stock in a research note on Friday, January 26th. Seaport Global Securities assumed coverage on shares of Boise Cascade in a research note on Thursday, March 15th. They set a “neutral” rating on the stock. Bank of America lifted their price target on shares of Boise Cascade from $44.00 to $46.00 and gave the company a “hold” rating in a research note on Wednesday, January 24th. Finally, ValuEngine raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $42.60.
Shares of BCC opened at $39.80 on Friday. Boise Cascade L.L.C. has a 52-week low of $26.25 and a 52-week high of $45.95. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 2.44. The firm has a market cap of $1,504.86, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 2.18 and a beta of 1.98.
Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Monday, February 26th. The construction company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Boise Cascade had a return on equity of 11.85% and a net margin of 1.87%. The firm’s revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.11 EPS. analysts forecast that Boise Cascade L.L.C. will post 2.67 earnings per share for the current fiscal year.
The company also recently announced a Not Available dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were given a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. Boise Cascade’s dividend payout ratio is currently 14.66%.
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Boise Cascade Profile
Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates in two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; structural, appearance, and industrial plywood panels; and ponderosa pine lumber, studs, and particleboards.
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