Martingale Asset Management L P acquired a new position in Boise Cascade Co (NYSE:BCC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,815 shares of the construction company’s stock, valued at approximately $618,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in shares of Boise Cascade by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 303,951 shares of the construction company’s stock worth $11,732,000 after purchasing an additional 7,480 shares in the last quarter. NorthCoast Asset Management LLC purchased a new stake in Boise Cascade during the 1st quarter valued at about $1,225,000. Xact Kapitalforvaltning AB boosted its holdings in Boise Cascade by 40.7% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 10,030 shares of the construction company’s stock valued at $448,000 after acquiring an additional 2,900 shares during the period. Engineers Gate Manager LP purchased a new stake in Boise Cascade during the 2nd quarter valued at about $2,146,000. Finally, Navellier & Associates Inc boosted its holdings in Boise Cascade by 64.4% during the 2nd quarter. Navellier & Associates Inc now owns 97,343 shares of the construction company’s stock valued at $4,351,000 after acquiring an additional 38,121 shares during the period. Hedge funds and other institutional investors own 95.81% of the company’s stock.
In other Boise Cascade news, CFO Wayne M. Rancourt sold 9,872 shares of the stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $44.85, for a total value of $442,759.20. Following the completion of the sale, the chief financial officer now owns 86,421 shares in the company, valued at approximately $3,875,981.85. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Daniel G. Hutchinson sold 13,671 shares of the stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $43.79, for a total value of $598,653.09. Following the completion of the sale, the executive vice president now owns 43,223 shares of the company’s stock, valued at approximately $1,892,735.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,472 shares of company stock valued at $1,567,444. Company insiders own 1.20% of the company’s stock.
Shares of BCC stock opened at $43.45 on Wednesday. The stock has a market cap of $1.70 billion, a P/E ratio of 22.75, a P/E/G ratio of 1.42 and a beta of 1.91. Boise Cascade Co has a 1-year low of $29.30 and a 1-year high of $49.30. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.25 and a quick ratio of 1.15.
Boise Cascade (NYSE:BCC) last issued its earnings results on Monday, August 6th. The construction company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.19. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Boise Cascade had a return on equity of 18.66% and a net margin of 2.64%. Boise Cascade’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.57 EPS. equities research analysts expect that Boise Cascade Co will post 3.45 EPS for the current fiscal year.
The firm also recently disclosed a special dividend, which will be paid on Monday, September 17th. Shareholders of record on Friday, August 31st will be issued a $1.00 dividend. This represents a yield of 0.63%. The ex-dividend date of this dividend is Thursday, August 30th. Boise Cascade’s dividend payout ratio (DPR) is currently 14.66%.
Several equities research analysts recently weighed in on BCC shares. ValuEngine cut Boise Cascade from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Zacks Investment Research cut Boise Cascade from a “strong-buy” rating to a “hold” rating in a report on Monday, July 9th. BMO Capital Markets restated a “hold” rating and set a $41.00 target price on shares of Boise Cascade in a report on Tuesday, July 17th. Finally, Bank of America dropped their target price on Boise Cascade from $49.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, August 7th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $43.60.
Boise Cascade Company 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; structural, appearance, and industrial plywood panels; and ponderosa pine lumber, studs, and particleboards.
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