Bank of New York Mellon Corp Acquires 56,217 Shares of Boise Cascade Co (NYSE:BCC)

Bank of New York Mellon Corp lifted its holdings in shares of Boise Cascade Co (NYSE:BCC) by 8.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 703,262 shares of the construction company’s stock after buying an additional 56,217 shares during the quarter. Bank of New York Mellon Corp owned about 1.81% of Boise Cascade worth $16,772,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Boise Cascade by 4.8% during the fourth quarter. BlackRock Inc. now owns 6,215,192 shares of the construction company’s stock worth $148,233,000 after acquiring an additional 287,366 shares during the period. Vanguard Group Inc. grew its stake in shares of Boise Cascade by 7.1% in the third quarter. Vanguard Group Inc. now owns 5,006,691 shares of the construction company’s stock valued at $184,247,000 after buying an additional 332,553 shares in the last quarter. Vanguard Group Inc grew its stake in shares of Boise Cascade by 7.1% in the third quarter. Vanguard Group Inc now owns 5,006,691 shares of the construction company’s stock valued at $184,247,000 after buying an additional 332,553 shares in the last quarter. Macquarie Group Ltd. grew its stake in Boise Cascade by 21.8% during the 3rd quarter. Macquarie Group Ltd. now owns 1,596,271 shares of the construction company’s stock valued at $58,742,000 after purchasing an additional 285,908 shares in the last quarter. Finally, Ceredex Value Advisors LLC grew its stake in Boise Cascade by 5.9% during the 4th quarter. Ceredex Value Advisors LLC now owns 651,450 shares of the construction company’s stock valued at $15,537,000 after purchasing an additional 36,050 shares in the last quarter. Institutional investors and hedge funds own 95.26% of the company’s stock.

Shares of BCC traded up $0.01 on Wednesday, hitting $26.65. The company’s stock had a trading volume of 198,158 shares, compared to its average volume of 321,334. The company has a market capitalization of $1.05 billion, a P/E ratio of 11.63, a PEG ratio of 2.14 and a beta of 1.95. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.67 and a quick ratio of 1.22. Boise Cascade Co has a fifty-two week low of $22.00 and a fifty-two week high of $49.30.

Boise Cascade (NYSE:BCC) last announced its earnings results on Tuesday, February 26th. The construction company reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.29). Boise Cascade had a return on equity of 14.93% and a net margin of 0.41%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the firm earned $0.49 earnings per share. The firm’s revenue was down 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Boise Cascade Co will post 1.97 EPS for the current fiscal year.

A number of research analysts have commented on the company. DA Davidson raised Boise Cascade from a “neutral” rating to a “buy” rating and increased their target price for the stock from $35.00 to $37.00 in a report on Wednesday, February 27th. ValuEngine upgraded Boise Cascade from a “strong sell” rating to a “sell” rating in a research report on Tuesday, March 5th. BMO Capital Markets restated a “hold” rating and issued a $32.00 target price on shares of Boise Cascade in a report on Wednesday, January 30th. Finally, Zacks Investment Research raised Boise Cascade from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $41.75.

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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; and structural, appearance, and industrial plywood panels.

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

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