Zacks Investment Management increased its holdings in Boise Cascade Co (NYSE:BCC) by 18.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,409 shares of the construction company’s stock after buying an additional 4,014 shares during the period. Zacks Investment Management’s holdings in Boise Cascade were worth $1,136,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Rhumbline Advisers boosted its holdings in Boise Cascade by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 93,484 shares of the construction company’s stock worth $4,179,000 after buying an additional 1,265 shares during the period. Victory Capital Management Inc. boosted its holdings in Boise Cascade by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 9,472 shares of the construction company’s stock worth $423,000 after buying an additional 1,301 shares during the period. United Services Automobile Association boosted its holdings in Boise Cascade by 18.7% in the 2nd quarter. United Services Automobile Association now owns 8,557 shares of the construction company’s stock worth $383,000 after buying an additional 1,346 shares during the period. LSV Asset Management boosted its holdings in Boise Cascade by 1.2% in the 2nd quarter. LSV Asset Management now owns 198,200 shares of the construction company’s stock worth $8,859,000 after buying an additional 2,400 shares during the period. Finally, Point72 Asia Hong Kong Ltd bought a new position in Boise Cascade in the 1st quarter worth approximately $102,000. 95.81% of the stock is owned by institutional investors.
Shares of NYSE:BCC opened at $43.50 on Monday. The company has a quick ratio of 1.15, a current ratio of 2.25 and a debt-to-equity ratio of 0.57. Boise Cascade Co has a one year low of $30.80 and a one year high of $49.30. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 1.46 and a beta of 1.91.
Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, August 6th. The construction company reported $1.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.19. Boise Cascade had a net margin of 2.64% and a return on equity of 18.66%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the firm earned $0.57 EPS. The business’s quarterly revenue was up 23.6% compared to the same quarter last year. equities analysts expect that Boise Cascade Co will post 3.45 earnings per share for the current fiscal year.
The company also recently declared a special dividend, which will be paid on Monday, September 17th. Shareholders of record on Friday, August 31st will be issued a $1.00 dividend. This represents a yield of 0.63%. The ex-dividend date of this dividend is Thursday, August 30th. Boise Cascade’s payout ratio is 14.66%.
In other Boise Cascade news, SVP John T. Sahlberg sold 7,815 shares of the firm’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $43.99, for a total value of $343,781.85. Following the completion of the transaction, the senior vice president now directly owns 58,988 shares of the company’s stock, valued at approximately $2,594,882.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Daniel G. Hutchinson sold 13,671 shares of the firm’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $43.79, for a total transaction of $598,653.09. Following the completion of the transaction, the executive vice president now directly owns 43,223 shares of the company’s stock, valued at $1,892,735.17. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,472 shares of company stock valued at $1,567,444. Insiders own 1.00% of the company’s stock.
Several research firms recently commented on BCC. Zacks Investment Research raised shares of Boise Cascade from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Wednesday, August 29th. Bank of America cut their price objective on shares of Boise Cascade from $49.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, August 7th. BMO Capital Markets reaffirmed a “hold” rating and issued a $41.00 price objective on shares of Boise Cascade in a report on Tuesday, July 17th. Finally, ValuEngine downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $43.60.
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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