Boise Cascade, L.L.C. (NYSE:BCC) VP Kelly E. Hibbs sold 1,511 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $31.50, for a total value of $47,596.50. Following the sale, the vice president now owns 25,868 shares of the company’s stock, valued at $814,842. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Boise Cascade, L.L.C. (NYSE BCC) opened at 30.35 on Wednesday. The company has a market capitalization of $1.17 billion, a P/E ratio of 25.50 and a beta of 2.06. Boise Cascade, L.L.C. has a 52 week low of $17.80 and a 52 week high of $33.40. The company’s 50 day moving average price is $29.66 and its 200-day moving average price is $28.14.
Boise Cascade, L.L.C. (NYSE:BCC) last announced its quarterly earnings results on Thursday, July 27th. The construction company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.61 by $0.04. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Boise Cascade, L.L.C. had a net margin of 1.13% and a return on equity of 8.32%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 earnings per share. Equities research analysts expect that Boise Cascade, L.L.C. will post $1.72 earnings per share for the current year.
BCC has been the subject of a number of recent research reports. BidaskClub upgraded Boise Cascade, L.L.C. from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. BMO Capital Markets reiterated a “hold” rating and set a $33.00 price objective on shares of Boise Cascade, L.L.C. in a research note on Thursday, July 20th. Zacks Investment Research upgraded Boise Cascade, L.L.C. from a “sell” rating to a “hold” rating in a research note on Monday. Bank of America Corporation upgraded Boise Cascade, L.L.C. from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $32.00 to $34.00 in a research note on Tuesday, April 4th. Finally, TheStreet upgraded Boise Cascade, L.L.C. from a “c” rating to a “b” rating in a research note on Friday, May 5th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $31.50.
A number of hedge funds and other institutional investors have recently made changes to their positions in BCC. Russell Investments Group Ltd. bought a new position in shares of Boise Cascade, L.L.C. during the fourth quarter valued at $811,000. State Street Corp boosted its position in shares of Boise Cascade, L.L.C. by 8.6% in the fourth quarter. State Street Corp now owns 832,807 shares of the construction company’s stock valued at $18,746,000 after buying an additional 66,190 shares in the last quarter. Norges Bank bought a new position in shares of Boise Cascade, L.L.C. during the fourth quarter valued at $4,621,000. Macquarie Group Ltd. boosted its position in shares of Boise Cascade, L.L.C. by 10.8% in the fourth quarter. Macquarie Group Ltd. now owns 727,820 shares of the construction company’s stock valued at $16,376,000 after buying an additional 71,071 shares in the last quarter. Finally, Peregrine Capital Management LLC boosted its position in shares of Boise Cascade, L.L.C. by 7.3% in the first quarter. Peregrine Capital Management LLC now owns 1,075,077 shares of the construction company’s stock valued at $29,296,000 after buying an additional 73,338 shares in the last quarter. Institutional investors own 96.05% of the company’s stock.
About Boise Cascade, L.L.C.
Boise Cascade Company is an integrated wood products manufacturer and building materials distributor with operations throughout the United States and one manufacturing facility in Canada. The Company is also a producer of engineered wood products (EWP) and plywood in North America. The Company operates through three segments: Wood Products, Building Materials Distribution, and Corporate and Other.
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