Legal & General Group Plc Buys 4,345 Shares of Boise Cascade Co (BCC)

Legal & General Group Plc lifted its position in Boise Cascade Co (NYSE:BCC) by 4.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 96,988 shares of the construction company’s stock after buying an additional 4,345 shares during the quarter. Legal & General Group Plc owned approximately 0.25% of Boise Cascade worth $4,322,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Rhumbline Advisers boosted its holdings in shares of Boise Cascade by 1.6% during the 1st quarter. Rhumbline Advisers now owns 92,219 shares of the construction company’s stock valued at $3,560,000 after buying an additional 1,487 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Boise Cascade by 46.8% during the 1st quarter. Victory Capital Management Inc. now owns 8,171 shares of the construction company’s stock valued at $315,000 after buying an additional 2,605 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Boise Cascade by 4.5% during the 1st quarter. Swiss National Bank now owns 67,200 shares of the construction company’s stock valued at $2,594,000 after buying an additional 2,900 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Boise Cascade by 5.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 477,568 shares of the construction company’s stock valued at $18,435,000 after buying an additional 24,534 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of Boise Cascade by 41.2% during the 1st quarter. KBC Group NV now owns 49,903 shares of the construction company’s stock valued at $1,926,000 after buying an additional 14,567 shares in the last quarter. Hedge funds and other institutional investors own 95.80% of the company’s stock.

In other Boise Cascade news, VP Kelly E. Hibbs sold 4,114 shares of the business’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $44.30, for a total value of $182,250.20. Following the completion of the transaction, the vice president now owns 34,101 shares of the company’s stock, valued at approximately $1,510,674.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Daniel G. Hutchinson sold 13,671 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $43.79, for a total value 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 approximately $1,892,735.17. The disclosure for this sale can be found here. In the last three months, insiders sold 35,472 shares of company stock valued at $1,567,444. 1.20% of the stock is owned by insiders.

A number of analysts have recently commented on BCC shares. Zacks Investment Research upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Tuesday, August 14th. BMO Capital Markets reaffirmed a “hold” rating and issued a $41.00 price target on shares of Boise Cascade in a research report on Tuesday, July 17th. ValuEngine lowered Boise Cascade from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Finally, Bank of America lowered their price target on Boise Cascade from $49.00 to $48.00 and set a “neutral” rating for the company in a research report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Boise Cascade has an average rating of “Hold” and an average target price of $45.50.

BCC opened at $34.94 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 2.25 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $1.43 billion, a PE ratio of 18.40, a P/E/G ratio of 1.19 and a beta of 1.88. Boise Cascade Co has a 1 year low of $33.62 and a 1 year high of $49.30.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Monday, August 6th. The construction company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.19. Boise Cascade had a return on equity of 18.66% and a net margin of 2.64%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the firm earned $0.57 EPS. Boise Cascade’s quarterly revenue was up 23.6% compared to the same quarter last year. Sell-side analysts forecast that Boise Cascade Co will post 3.45 earnings per share for the current fiscal year.

The firm also recently announced a special dividend, which was paid on Monday, September 17th. Shareholders of record on Friday, August 31st were given a $1.00 dividend. This represents a yield of 0.63%. The ex-dividend date of this dividend was Thursday, August 30th. Boise Cascade’s dividend payout ratio (DPR) is 14.66%.

About Boise Cascade

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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Institutional Ownership by Quarter for Boise Cascade (NYSE:BCC)

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