Boise Cascade Co (BCC) Shares Bought by HL Financial Services LLC

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HL Financial Services LLC increased its holdings in shares of Boise Cascade Co (NYSE:BCC) by 10.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 75,243 shares of the construction company’s stock after purchasing an additional 7,352 shares during the quarter. HL Financial Services LLC’s holdings in Boise Cascade were worth $2,769,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Rhumbline Advisers grew its stake in Boise Cascade by 1.4% in the second quarter. Rhumbline Advisers now owns 93,484 shares of the construction company’s stock valued at $4,179,000 after purchasing an additional 1,265 shares in the last quarter. Victory Capital Management Inc. grew its stake in Boise Cascade by 15.9% in the second quarter. Victory Capital Management Inc. now owns 9,472 shares of the construction company’s stock valued at $423,000 after purchasing an additional 1,301 shares in the last quarter. United Services Automobile Association grew its stake in Boise Cascade by 18.7% in the second quarter. United Services Automobile Association now owns 8,557 shares of the construction company’s stock valued at $383,000 after purchasing an additional 1,346 shares in the last quarter. LSV Asset Management grew its stake in Boise Cascade by 1.2% in the second quarter. LSV Asset Management now owns 198,200 shares of the construction company’s stock valued at $8,859,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Cypress Capital Management LLC WY grew its stake in Boise Cascade by 7.1% in the third quarter. Cypress Capital Management LLC WY now owns 36,080 shares of the construction company’s stock valued at $1,328,000 after purchasing an additional 2,400 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

A number of research analysts have commented on BCC shares. Zacks Investment Research upgraded Boise Cascade from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Tuesday, August 14th. Vertical Research upgraded Boise Cascade from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. BMO Capital Markets restated a “hold” rating and issued a $41.00 target price on shares of Boise Cascade in a research note on Tuesday, July 17th. DA Davidson lowered their target price on Boise Cascade to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Bank of America lowered their target price on Boise Cascade from $49.00 to $48.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $43.50.

In other news, CFO Wayne M. Rancourt sold 9,872 shares of the company’s 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 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 filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Shares of NYSE BCC opened at $30.12 on Friday. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 1.04 and a beta of 2.01. Boise Cascade Co has a one year low of $28.51 and a one year high of $49.30. The company has a current ratio of 2.36, a quick ratio of 1.15 and a debt-to-equity ratio of 0.59.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Tuesday, November 6th. The construction company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.01. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Boise Cascade had a return on equity of 17.97% and a net margin of 2.23%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.81 EPS. On average, equities research analysts anticipate that Boise Cascade Co will post 3.2 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Friday, November 30th. This is an increase from Boise Cascade’s previous quarterly dividend of $0.07. Boise Cascade’s dividend payout ratio is 14.66%.

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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.

Further Reading: How to Calculate Compound Annual Growth Rate (CAGR)

Want to see what other hedge funds are holding BCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boise Cascade Co (NYSE:BCC).

Institutional Ownership by Quarter for Boise Cascade (NYSE:BCC)

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