State of Alaska Department of Revenue lowered its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC – Free Report) by 47.3% in the third quarter, Holdings Channel reports. The institutional investor owned 7,328 shares of the construction company’s stock after selling 6,586 shares during the quarter. State of Alaska Department of Revenue’s holdings in Boise Cascade were worth $542,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in BCC. Baker Ellis Asset Management LLC boosted its stake in Boise Cascade by 5.2% during the 3rd quarter. Baker Ellis Asset Management LLC now owns 27,240 shares of the construction company’s stock valued at $2,020,000 after acquiring an additional 1,340 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Boise Cascade by 19.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,164 shares of the construction company’s stock worth $86,000 after purchasing an additional 186 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Boise Cascade by 309.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,431 shares of the construction company’s stock worth $180,000 after purchasing an additional 1,837 shares during the last quarter. State Street Corp increased its position in shares of Boise Cascade by 2.8% in the 2nd quarter. State Street Corp now owns 1,497,224 shares of the construction company’s stock worth $116,229,000 after purchasing an additional 41,324 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Boise Cascade by 6.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,717 shares of the construction company’s stock valued at $1,375,000 after purchasing an additional 1,122 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.
Insider Buying and Selling
In other Boise Cascade news, SVP Jill Twedt sold 1,250 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $79.40, for a total transaction of $99,250.00. Following the transaction, the senior vice president owned 25,295 shares of the company’s stock, valued at approximately $2,008,423. This trade represents a 4.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kristopher J. Matula sold 1,930 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total transaction of $163,239.40. Following the sale, the director owned 13,982 shares in the company, valued at $1,182,597.56. This trade represents a 12.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.42% of the company’s stock.
Boise Cascade Trading Down 0.7%
Boise Cascade stock opened at $77.78 on Friday. Boise Cascade, L.L.C. has a 52-week low of $65.00 and a 52-week high of $91.97. The company has a quick ratio of 1.31, a current ratio of 2.71 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 1.01 and a beta of 1.08. The firm has a 50-day moving average price of $76.93 and a two-hundred day moving average price of $76.07.
Boise Cascade (NYSE:BCC – Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The construction company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.23 by $0.40. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.77 billion. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. Boise Cascade’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.64 earnings per share. Sell-side analysts expect that Boise Cascade, L.L.C. will post 3.86 earnings per share for the current year.
Boise Cascade Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.23 per share. This is a boost from Boise Cascade’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Tuesday, September 1st. Boise Cascade’s payout ratio is presently 31.19%.
Analysts Set New Price Targets
BCC has been the topic of several research analyst reports. Zacks Research cut shares of Boise Cascade from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Wall Street Zen upgraded Boise Cascade from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. The Goldman Sachs Group boosted their price objective on Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. DA Davidson boosted their price objective on Boise Cascade from $92.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Bank of America cut their price objective on Boise Cascade from $89.00 to $80.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 14th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $93.40.
Get Our Latest Research Report on Boise Cascade
About Boise Cascade
Boise Cascade Company is a U.S.-based manufacturer of engineered wood products and a wholesale distributor of building materials. Headquartered in Boise, Idaho, the company serves the residential construction, repair and remodeling, and industrial sectors primarily across the United States.
Through its Wood Products segment, Boise Cascade manufactures laminated veneer lumber, I-joists, laminated strand lumber, plywood, and other engineered wood products used in floors, roofs, walls, and structural applications.
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