Bank of America Corp DE increased its holdings in Boise Cascade Co (NYSE:BCC) by 16.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 346,551 shares of the construction company’s stock after buying an additional 49,695 shares during the quarter. Bank of America Corp DE owned 0.89% of Boise Cascade worth $8,266,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of BCC. SG Americas Securities LLC lifted its position in shares of Boise Cascade by 33.7% in the third quarter. SG Americas Securities LLC now owns 12,908 shares of the construction company’s stock worth $475,000 after buying an additional 3,252 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Boise Cascade by 1.8% in the third quarter. Bank of New York Mellon Corp now owns 647,045 shares of the construction company’s stock worth $23,811,000 after buying an additional 11,218 shares during the last quarter. Martingale Asset Management L P lifted its position in shares of Boise Cascade by 16.7% in the third quarter. Martingale Asset Management L P now owns 16,127 shares of the construction company’s stock worth $594,000 after buying an additional 2,312 shares during the last quarter. BlackRock Inc. lifted its position in shares of Boise Cascade by 4.9% in the third quarter. BlackRock Inc. now owns 5,927,826 shares of the construction company’s stock worth $218,145,000 after buying an additional 279,342 shares during the last quarter. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Boise Cascade in the third quarter worth about $314,000. 95.26% of the stock is currently owned by institutional investors.
Boise Cascade stock opened at $27.59 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 2.67. The stock has a market capitalization of $1.08 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 2.14 and a beta of 1.95. Boise Cascade Co has a 52 week low of $22.00 and a 52 week high of $49.30.
Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Tuesday, February 26th. The construction company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($1.84). The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.09 billion. Boise Cascade had a return on equity of 14.93% and a net margin of 0.41%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share. Analysts anticipate that Boise Cascade Co will post 1.97 EPS for the current year.
A number of brokerages have weighed in on BCC. ValuEngine raised Boise Cascade from a “strong sell” rating to a “sell” rating in a research report on Tuesday, March 5th. DA Davidson raised Boise Cascade from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $35.00 to $37.00 in a research report on Wednesday, February 27th. BMO Capital Markets reaffirmed a “hold” rating and issued a $32.00 price target on shares of Boise Cascade in a research report on Wednesday, January 30th. Zacks Investment Research raised Boise Cascade from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. Finally, TheStreet cut Boise Cascade from a “b-” rating to a “c+” rating in a research report on Wednesday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $41.75.
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Boise Cascade 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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