Pitcairn Co. bought a new position in Boise Cascade Co (NYSE:BCC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,072 shares of the construction company’s stock, valued at approximately $228,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. FDx Advisors Inc. bought a new stake in shares of Boise Cascade during the first quarter worth approximately $25,000. PNC Financial Services Group Inc. raised its stake in shares of Boise Cascade by 42.7% during the first quarter. PNC Financial Services Group Inc. now owns 2,637 shares of the construction company’s stock worth $63,000 after buying an additional 789 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Boise Cascade by 45.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,427 shares of the construction company’s stock worth $81,000 after buying an additional 1,075 shares during the last quarter. FMR LLC raised its stake in shares of Boise Cascade by 436.4% during the first quarter. FMR LLC now owns 3,331 shares of the construction company’s stock worth $89,000 after buying an additional 2,710 shares during the last quarter. Finally, Advisor Group Holdings Inc. bought a new stake in shares of Boise Cascade during the first quarter worth approximately $91,000. 94.04% of the stock is owned by institutional investors.
BCC has been the subject of a number of recent research reports. TheStreet raised shares of Boise Cascade from a “c+” rating to a “b-” rating in a research note on Thursday, July 23rd. Bank of America raised shares of Boise Cascade from a “neutral” rating to a “buy” rating and set a $39.00 price target for the company in a research note on Tuesday, May 26th. Finally, Zacks Investment Research raised shares of Boise Cascade from a “hold” rating to a “strong-buy” rating and set a $44.00 price target for the company in a research note on Monday, July 13th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Boise Cascade presently has a consensus rating of “Buy” and an average price target of $42.33.
Shares of NYSE BCC opened at $46.59 on Friday. The stock has a market cap of $1.83 billion, a P/E ratio of 22.40, a P/E/G ratio of 2.75 and a beta of 2.27. The firm has a 50 day moving average price of $38.77 and a 200 day moving average price of $33.87. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.30 and a current ratio of 2.52. Boise Cascade Co has a 52-week low of $20.08 and a 52-week high of $48.54.
Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Friday, July 31st. The construction company reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.15. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Boise Cascade had a net margin of 1.71% and a return on equity of 13.44%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.71 earnings per share. Analysts predict that Boise Cascade Co will post 2.47 earnings per share for the current fiscal year.
Boise Cascade Company 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; and structural, appearance, and industrial plywood panels.
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