Boise Cascade Co (BCC) Holdings Boosted by Royce & Associates LP
Royce & Associates LP lifted its position in shares of Boise Cascade Co (NYSE:BCC) by 56.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,455 shares of the construction company’s stock after acquiring an additional 524 shares during the period. Royce & Associates LP’s holdings in Boise Cascade were worth $35,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc raised its position in shares of Boise Cascade by 7.1% during the 3rd quarter. Vanguard Group Inc now owns 5,006,691 shares of the construction company’s stock valued at $184,247,000 after acquiring an additional 332,553 shares in the last quarter. Federated Investors Inc. PA raised its position in shares of Boise Cascade by 28.2% during the 3rd quarter. Federated Investors Inc. PA now owns 224,062 shares of the construction company’s stock valued at $8,246,000 after acquiring an additional 49,349 shares in the last quarter. Algert Global LLC raised its position in shares of Boise Cascade by 65.2% during the 3rd quarter. Algert Global LLC now owns 21,219 shares of the construction company’s stock valued at $781,000 after acquiring an additional 8,373 shares in the last quarter. Paradigm Asset Management Co. LLC acquired a new stake in shares of Boise Cascade during the 3rd quarter valued at approximately $46,000. Finally, Commonwealth Bank of Australia acquired a new stake in shares of Boise Cascade during the 3rd quarter valued at approximately $213,000. 93.19% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on BCC shares. TheStreet lowered Boise Cascade from a “b-” rating to a “c+” rating in a research report on Wednesday, December 19th. DA Davidson upgraded Boise Cascade from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $35.00 to $37.00 in a research note on Wednesday, February 27th. BMO Capital Markets restated a “hold” rating and set a $32.00 price objective on shares of Boise Cascade in a research note on Wednesday, January 30th. Zacks Investment Research upgraded Boise Cascade from a “sell” rating to a “hold” rating in a research note on Monday, December 31st. Finally, ValuEngine upgraded Boise Cascade from a “strong sell” rating to a “sell” rating in a research note on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Boise Cascade presently has a consensus rating of “Hold” and an average target price of $41.75.
Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Tuesday, February 26th. The construction company reported ($1.85) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($1.84). The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.09 billion. Boise Cascade had a return on equity of 14.93% and a net margin of 0.41%. Boise Cascade’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.49 earnings per share. On average, equities analysts forecast that Boise Cascade Co will post 1.92 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.09 per share. The ex-dividend date was Thursday, February 28th. This represents a $0.36 dividend on an annualized basis and a yield of 1.32%. Boise Cascade’s payout ratio is currently 15.72%.
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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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