Investors Buy High Volume of Boise Cascade Put Options (BCC)

Boise Cascade, L.L.C. (NYSE:BCC) was the recipient of unusually large options trading on Wednesday. Investors purchased 445 put options on the stock. This is an increase of approximately 773% compared to the typical volume of 51 put options.

In other news, Director Thomas E. Carlile sold 17,552 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $31.75, for a total value of $557,276.00. Following the completion of the transaction, the director now owns 63,496 shares of the company’s stock, valued at approximately $2,015,998. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System increased its holdings in shares of Boise Cascade by 0.5% in the 2nd quarter. Arizona State Retirement System now owns 20,121 shares of the construction company’s stock worth $612,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Boise Cascade by 0.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 15,700 shares of the construction company’s stock worth $477,000 after purchasing an additional 100 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Boise Cascade by 2.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,655 shares of the construction company’s stock worth $233,000 after purchasing an additional 212 shares in the last quarter. Texas Permanent School Fund increased its holdings in shares of Boise Cascade by 1.3% in the 2nd quarter. Texas Permanent School Fund now owns 28,135 shares of the construction company’s stock worth $855,000 after purchasing an additional 368 shares in the last quarter. Finally, Wedge Capital Management L L P NC increased its holdings in shares of Boise Cascade by 4.6% in the 2nd quarter. Wedge Capital Management L L P NC now owns 9,584 shares of the construction company’s stock worth $291,000 after purchasing an additional 420 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

Several research analysts have recently issued reports on the company. Sidoti started coverage on Boise Cascade in a research report on Friday, September 15th. They issued a “buy” rating for the company. DA Davidson lowered Boise Cascade from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research report on Tuesday, October 3rd. Zacks Investment Research raised Boise Cascade from a “sell” rating to a “hold” rating and set a $41.00 price objective for the company in a research report on Thursday, November 2nd. Vertical Research lowered Boise Cascade from a “buy” rating to a “hold” rating and set a $36.00 price objective for the company. in a research report on Wednesday, October 4th. Finally, BidaskClub lowered Boise Cascade from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $36.40.

Boise Cascade (NYSE BCC) opened at $38.50 on Friday. Boise Cascade has a 52-week low of $22.03 and a 52-week high of $39.45. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.19 and a current ratio of 2.27. The firm has a market capitalization of $1,484.54, a P/E ratio of 23.05, a P/E/G ratio of 1.09 and a beta of 2.09.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Tuesday, October 31st. The construction company reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.17. Boise Cascade had a return on equity of 10.66% and a net margin of 1.59%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the company earned $0.26 EPS. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. equities analysts forecast that Boise Cascade will post 1.92 earnings per share for the current year.

The business also recently disclosed a Not Available dividend, which will be paid on Friday, December 15th. Investors of record on Monday, November 27th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, November 24th. Boise Cascade’s dividend payout ratio (DPR) is presently 4.00%.

COPYRIGHT VIOLATION NOTICE: “Investors Buy High Volume of Boise Cascade Put Options (BCC)” was reported by American Banking News and is owned by of American Banking News. If you are reading this piece on another publication, it was illegally copied and republished in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.americanbankingnews.com/2017/12/02/investors-buy-high-volume-of-boise-cascade-put-options-bcc.html.

About Boise Cascade

Boise Cascade Company is an integrated wood products manufacturer and building materials distributor with operations throughout the United States and one manufacturing facility in Canada. The Company is also a producer of engineered wood products (EWP) and plywood in North America. The Company operates through three segments: Wood Products, Building Materials Distribution, and Corporate and Other.

Receive News & Ratings for Boise Cascade L.L.C. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boise Cascade L.L.C. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply