First Trust Advisors LP increased its holdings in Boise Cascade Co (NYSE:BCC) by 39.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,947 shares of the construction company’s stock after purchasing an additional 17,387 shares during the period. First Trust Advisors LP owned 0.16% of Boise Cascade worth $2,724,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Rhumbline Advisers increased its holdings in Boise Cascade by 1.6% during the first quarter. Rhumbline Advisers now owns 92,219 shares of the construction company’s stock worth $3,560,000 after buying an additional 1,487 shares during the last quarter. New York State Teachers Retirement System increased its holdings in Boise Cascade by 20.7% during the first quarter. New York State Teachers Retirement System now owns 33,855 shares of the construction company’s stock worth $1,307,000 after buying an additional 5,800 shares during the last quarter. Trexquant Investment LP purchased a new stake in Boise Cascade during the first quarter worth about $589,000. Victory Capital Management Inc. increased its holdings in Boise Cascade by 46.8% during the first quarter. Victory Capital Management Inc. now owns 8,171 shares of the construction company’s stock worth $315,000 after buying an additional 2,605 shares during the last quarter. Finally, Swiss National Bank increased its holdings in Boise Cascade by 4.5% during the first quarter. Swiss National Bank now owns 67,200 shares of the construction company’s stock worth $2,594,000 after buying an additional 2,900 shares during the last quarter. 95.81% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently issued reports on BCC shares. Zacks Investment Research downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. BMO Capital Markets restated a “hold” rating and set a $41.00 price objective on shares of Boise Cascade in a report on Tuesday, July 17th. ValuEngine downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Finally, Bank of America decreased their price objective on shares of Boise Cascade from $49.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, August 7th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $43.60.
BCC opened at $42.05 on Friday. The stock has a market capitalization of $1.73 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 1.44 and a beta of 1.91. 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 Co has a twelve month low of $30.80 and a twelve month high of $49.30.
Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, August 6th. The construction company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.19. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.31 billion. Boise Cascade had a net margin of 2.64% and a return on equity of 18.66%. The company’s revenue was up 23.6% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share. equities research analysts anticipate that Boise Cascade Co will post 3.45 EPS for the current fiscal year.
The firm also recently announced a special dividend, which will be paid on Monday, September 17th. Stockholders of record on Friday, August 31st will be paid a $1.00 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a dividend yield of 0.63%. Boise Cascade’s payout ratio is 14.66%.
In other news, VP Kelly E. Hibbs sold 4,114 shares of Boise Cascade stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $44.30, for a total value of $182,250.20. Following the completion of the transaction, the vice president now owns 34,101 shares in the company, valued at $1,510,674.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Wayne M. Rancourt sold 9,872 shares of Boise Cascade stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $44.85, for a total transaction of $442,759.20. Following the completion of the transaction, the chief financial officer now owns 86,421 shares of the company’s stock, valued at approximately $3,875,981.85. The disclosure for this sale can be found here. Insiders sold 35,472 shares of company stock valued at $1,567,444 in the last quarter. Corporate insiders own 1.00% of the company’s stock.
About Boise Cascade
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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