Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Boise Cascade Co (NYSE:BCC) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 56,875 shares of the construction company’s stock, valued at approximately $1,522,000.
A number of other institutional investors and hedge funds have also modified their holdings of BCC. Investors Research Corp acquired a new stake in Boise Cascade in the first quarter worth about $120,000. Strs Ohio increased its position in Boise Cascade by 5.6% in the first quarter. Strs Ohio now owns 30,200 shares of the construction company’s stock worth $808,000 after purchasing an additional 1,600 shares during the period. 6 Meridian acquired a new stake in Boise Cascade in the first quarter worth about $213,000. Deutsche Bank AG increased its position in Boise Cascade by 74.5% in the fourth quarter. Deutsche Bank AG now owns 443,718 shares of the construction company’s stock worth $10,580,000 after purchasing an additional 189,406 shares during the period. Finally, Geode Capital Management LLC increased its position in Boise Cascade by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 437,399 shares of the construction company’s stock worth $10,431,000 after purchasing an additional 23,864 shares during the period. 95.32% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently commented on the company. Zacks Investment Research upgraded Boise Cascade from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. ValuEngine upgraded Boise Cascade from a “strong sell” rating to a “sell” rating in a research report on Tuesday, March 5th. DA Davidson upgraded Boise Cascade from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $35.00 to $37.00 in a research report on Wednesday, February 27th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $32.00 price objective on shares of Boise Cascade in a research report on Wednesday, January 30th. 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. The company currently has an average rating of “Hold” and an average target price of $41.75.
Boise Cascade (NYSE:BCC) last posted its earnings results on Tuesday, May 7th. The construction company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.14 billion. Boise Cascade had a return on equity of 14.93% and a net margin of 0.41%. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 EPS. Equities analysts forecast that Boise Cascade Co will post 1.97 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.36 annualized dividend and a dividend yield of 1.36%. Boise Cascade’s payout ratio is currently 15.72%.
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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