Point72 Asset Management L.P. raised its position in Boise Cascade Co (NYSE:BCC) by 1,124.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 133,600 shares of the construction company’s stock after acquiring an additional 122,687 shares during the period. Point72 Asset Management L.P. owned approximately 0.34% of Boise Cascade worth $4,354,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in Boise Cascade by 436.4% in the 1st quarter. FMR LLC now owns 3,331 shares of the construction company’s stock worth $89,000 after purchasing an additional 2,710 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Boise Cascade by 22.2% in the first quarter. First Trust Advisors LP now owns 89,785 shares of the construction company’s stock worth $2,403,000 after buying an additional 16,333 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Boise Cascade by 1.2% in the second quarter. Arizona State Retirement System now owns 60,459 shares of the construction company’s stock worth $1,700,000 after buying an additional 745 shares during the last quarter. Strs Ohio lifted its stake in shares of Boise Cascade by 1.7% during the second quarter. Strs Ohio now owns 30,700 shares of the construction company’s stock worth $862,000 after buying an additional 500 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Boise Cascade by 11.2% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 63,250 shares of the construction company’s stock worth $1,778,000 after buying an additional 6,375 shares during the period. Hedge funds and other institutional investors own 92.37% of the company’s stock.
Shares of BCC opened at $37.92 on Tuesday. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 2.48 and a beta of 2.05. Boise Cascade Co has a 52-week low of $22.00 and a 52-week high of $40.13. The company has a quick ratio of 1.42, a current ratio of 2.53 and a debt-to-equity ratio of 0.72. The stock has a 50 day moving average price of $36.88 and a 200 day moving average price of $30.25.
Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Thursday, November 7th. The construction company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.01. Boise Cascade had a negative net margin of 0.13% and a positive return on equity of 8.10%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the business earned $0.76 EPS. Boise Cascade’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, equities analysts anticipate that Boise Cascade Co will post 1.94 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.10 dividend. This is an increase from Boise Cascade’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, November 29th. Boise Cascade’s dividend payout ratio is presently 17.47%.
In other Boise Cascade news, insider Stewart David bought 196,000 shares of Boise Cascade stock in a transaction dated Wednesday, October 16th. The stock was acquired at an average cost of $0.23 per share, with a total value of $45,276.00. Also, CFO Wayne M. Rancourt sold 7,286 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $37.87, for a total transaction of $275,920.82. Following the sale, the chief financial officer now owns 94,663 shares of the company’s stock, valued at approximately $3,584,887.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,940 shares of company stock worth $2,248,861. Insiders own 1.50% of the company’s stock.
A number of equities research analysts recently commented on BCC shares. DA Davidson downgraded Boise Cascade from a “buy” rating to a “neutral” rating and set a $40.00 target price for the company. in a report on Friday, November 8th. Vertical Research lowered Boise Cascade from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Zacks Investment Research cut Boise Cascade from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, ValuEngine raised Boise Cascade from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Boise Cascade has an average rating of “Hold” and a consensus target price of $32.40.
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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