Envestnet Asset Management Inc. trimmed its position in shares of Boise Cascade (NYSE:BCC – Get Rating) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 74,158 shares of the construction company’s stock after selling 1,107 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Boise Cascade were worth $4,409,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the company. Credit Suisse AG boosted its position in Boise Cascade by 11.8% during the third quarter. Credit Suisse AG now owns 38,415 shares of the construction company’s stock worth $2,285,000 after purchasing an additional 4,054 shares in the last quarter. Quent Capital LLC boosted its position in Boise Cascade by 56.7% during the third quarter. Quent Capital LLC now owns 17,945 shares of the construction company’s stock worth $1,067,000 after purchasing an additional 6,490 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Boise Cascade by 1.4% during the third quarter. Dimensional Fund Advisors LP now owns 2,572,739 shares of the construction company’s stock worth $152,973,000 after purchasing an additional 36,641 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Boise Cascade by 61.9% during the third quarter. Tower Research Capital LLC TRC now owns 2,385 shares of the construction company’s stock worth $142,000 after purchasing an additional 912 shares in the last quarter. Finally, UBS Group AG boosted its position in Boise Cascade by 172.8% during the third quarter. UBS Group AG now owns 48,185 shares of the construction company’s stock worth $2,865,000 after purchasing an additional 30,521 shares in the last quarter. 92.78% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, StockNews.com downgraded Boise Cascade from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $73.25.
Boise Cascade Stock Performance
NYSE BCC opened at $70.24 on Friday. Boise Cascade has a fifty-two week low of $55.14 and a fifty-two week high of $85.17. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 3.26 and a beta of 1.54. The business has a fifty day moving average of $72.01 and a 200-day moving average of $68.32. The company has a quick ratio of 2.50, a current ratio of 3.78 and a debt-to-equity ratio of 0.23.
Boise Cascade (NYSE:BCC – Get Rating) last released its quarterly earnings results on Wednesday, February 22nd. The construction company reported $2.95 earnings per share for the quarter, missing analysts’ consensus estimates of $2.97 by ($0.02). The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.78 billion. Boise Cascade had a return on equity of 46.02% and a net margin of 10.23%. The business’s revenue was down 8.6% compared to the same quarter last year. During the same period last year, the firm earned $4.26 earnings per share. As a group, analysts predict that Boise Cascade will post 8.2 earnings per share for the current fiscal year.
Boise Cascade Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, February 22nd will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, February 21st. This is an increase from Boise Cascade’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a yield of 0.85%. Boise Cascade’s dividend payout ratio is 2.78%.
Boise Cascade Company Profile
Boise Cascade Co engages in the manufacture and distribution of engineered wood products (EWP) and plywood. It operates through the Wood Products and Building Materials Distribution (BMD) segments. The Wood Products segment manufactures and sells engineered wood products, plywood, particleboard, studs and ponderosa pine lumber.
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