Guggenheim Capital LLC cut its holdings in Boise Cascade L.L.C. (NYSE:BCC) by 38.7% during the 4th quarter, Holdings Channel reports. The firm owned 89,162 shares of the construction company’s stock after selling 56,350 shares during the period. Guggenheim Capital LLC’s holdings in Boise Cascade were worth $3,557,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Globeflex Capital L P grew its stake in shares of Boise Cascade by 9.7% in the fourth quarter. Globeflex Capital L P now owns 52,272 shares of the construction company’s stock worth $2,086,000 after purchasing an additional 4,605 shares during the last quarter. Engineers Gate Manager LP grew its stake in shares of Boise Cascade by 18.0% in the third quarter. Engineers Gate Manager LP now owns 39,228 shares of the construction company’s stock worth $1,369,000 after purchasing an additional 5,981 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Boise Cascade by 4.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 453,034 shares of the construction company’s stock worth $18,077,000 after purchasing an additional 20,546 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Boise Cascade by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 470,154 shares of the construction company’s stock worth $16,808,000 after purchasing an additional 4,954 shares during the last quarter. Finally, Morse Asset Management Inc bought a new stake in shares of Boise Cascade in the fourth quarter worth about $2,139,000. 94.78% of the stock is currently owned by institutional investors.
In other news, SVP John T. Sahlberg sold 6,582 shares of Boise Cascade stock in a transaction that occurred on Monday, March 5th. The shares were 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 in the company, valued at $2,870,087.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.
Several research firms have weighed in on BCC. Seaport Global Securities began coverage on Boise Cascade in a research report on Thursday, March 15th. They set a “neutral” rating on the stock. BMO Capital Markets reaffirmed a “hold” rating and set a $36.00 price objective on shares of Boise Cascade in a research report on Thursday, January 25th. Zacks Investment Research cut Boise Cascade from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. DA Davidson lifted their price objective on Boise Cascade to $43.00 and gave the company a “hold” rating in a research report on Tuesday, February 27th. Finally, ValuEngine raised Boise Cascade from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $42.60.
Boise Cascade stock opened at $39.80 on Friday. The company has a current ratio of 2.44, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65. The company has a market cap of $1,504.86, a price-to-earnings ratio of 20.84, a PEG ratio of 2.18 and a beta of 1.98. Boise Cascade L.L.C. has a fifty-two week low of $26.25 and a fifty-two week high of $45.95.
Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, February 26th. The construction company reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.02). The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.05 billion. Boise Cascade had a net margin of 1.87% and a return on equity of 11.85%. The business’s revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 earnings per share. analysts forecast that Boise Cascade L.L.C. will post 2.67 earnings per share for the current year.
The firm also recently announced a Not Available dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, February 28th. Boise Cascade’s payout ratio is 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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