BlueCrest Capital Management Ltd purchased a new position in shares of Boise Cascade Co (NYSE:BCC) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,642 shares of the construction company’s stock, valued at approximately $225,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Commonwealth Equity Services Inc acquired a new position in Boise Cascade during the 3rd quarter valued at about $204,000. Dynamic Technology Lab Private Ltd acquired a new position in Boise Cascade during the 3rd quarter valued at about $223,000. Amalgamated Bank acquired a new position in Boise Cascade during the 4th quarter valued at about $223,000. SG Americas Securities LLC lifted its position in Boise Cascade by 57.3% during the 3rd quarter. SG Americas Securities LLC now owns 6,952 shares of the construction company’s stock valued at $243,000 after purchasing an additional 2,532 shares during the period. Finally, Highbridge Capital Management LLC acquired a new position in Boise Cascade during the 3rd quarter valued at about $260,000. Institutional investors and hedge funds own 94.78% of the company’s stock.
A number of research analysts have issued reports on the stock. BMO Capital Markets restated a “hold” rating and set a $36.00 target price on shares of Boise Cascade in a research report on Thursday, January 25th. Zacks Investment Research upgraded shares of Boise Cascade from a “hold” rating to a “strong-buy” rating and set a $52.00 target price on the stock in a research report on Friday, January 26th. Seaport Global Securities assumed coverage on shares of Boise Cascade in a research report on Thursday, March 15th. They set a “neutral” rating on the stock. Bank of America upped their target price on shares of Boise Cascade from $44.00 to $46.00 and gave the company a “hold” rating in a research report on Wednesday, January 24th. Finally, ValuEngine upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $42.60.
Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, February 26th. The construction company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.05 billion. Boise Cascade had a net margin of 1.87% and a return on equity of 11.85%. The business’s revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.11 earnings per share. research analysts predict that Boise Cascade Co will post 2.61 earnings per share for the current fiscal year.
The company also recently declared a Not Available dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, March 1st were given a $0.07 dividend. The ex-dividend date was Wednesday, February 28th. This represents a dividend yield of 0.00170109356014581%. Boise Cascade’s dividend payout ratio is 13.15%.
In related news, SVP John T. Sahlberg sold 6,582 shares of the stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $39.11, for a total value of $257,422.02. Following the sale, the senior vice president now directly owns 73,385 shares in the company, valued at approximately $2,870,087.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.
Boise Cascade Company Profile
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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