Bank of New York Mellon Corp increased its stake in Potlatch Co. (NASDAQ:PCH) by 12.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 773,941 shares of the real estate investment trust’s stock after purchasing an additional 85,048 shares during the period. Bank of New York Mellon Corp owned 1.91% of Potlatch worth $38,619,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Wealthcare Advisory Partners LLC bought a new position in Potlatch in the 3rd quarter worth approximately $142,000. DekaBank Deutsche Girozentrale bought a new position in Potlatch in the 3rd quarter worth approximately $206,000. ING Groep NV raised its position in Potlatch by 23.2% in the 4th quarter. ING Groep NV now owns 6,128 shares of the real estate investment trust’s stock worth $306,000 after purchasing an additional 1,155 shares during the last quarter. Stratos Wealth Partners LTD. bought a new position in Potlatch in the 3rd quarter worth approximately $334,000. Finally, Bessemer Group Inc. bought a new position in Potlatch in the 3rd quarter worth approximately $342,000. Hedge funds and other institutional investors own 89.82% of the company’s stock.
In other news, CEO Michael J. Covey sold 19,414 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $54.41, for a total value of $1,056,315.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Eric J. Cremers sold 15,150 shares of the business’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $51.00, for a total transaction of $772,650.00. Following the completion of the transaction, the chief operating officer now directly owns 85,710 shares of the company’s stock, valued at approximately $4,371,210. The disclosure for this sale can be found here. Insiders sold a total of 165,283 shares of company stock valued at $8,566,098 in the last three months. 1.52% of the stock is owned by company insiders.
Shares of Potlatch Co. (PCH) opened at $51.45 on Tuesday. The company has a current ratio of 2.58, a quick ratio of 1.91 and a debt-to-equity ratio of 2.79. Potlatch Co. has a fifty-two week low of $42.85 and a fifty-two week high of $56.35. The company has a market cap of $2,090.00, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 3.39 and a beta of 1.36.
Potlatch (NASDAQ:PCH) last released its earnings results on Monday, January 29th. The real estate investment trust reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.06). Potlatch had a return on equity of 55.47% and a net margin of 12.74%. The business had revenue of $175.24 million for the quarter, compared to analyst estimates of $170.54 million. equities analysts forecast that Potlatch Co. will post 2.98 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Wednesday, March 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Tuesday, March 6th. Potlatch’s dividend payout ratio (DPR) is 67.80%.
ILLEGAL ACTIVITY WARNING: This story was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was copied illegally and reposted in violation of United States and international copyright and trademark legislation. The legal version of this story can be accessed at https://www.americanbankingnews.com/2018/03/13/potlatch-co-pch-shares-bought-by-bank-of-new-york-mellon-corp.html.
Potlatch Company Profile
PotlatchDeltic Corp, formerly Potlatch Corporation, is a real estate investment trust (REIT), which is primarily engaged in activities associated with timberland management, including the sale of timber, management of timberlands, and purchase and sale of timberlands. The Company is also engaged in the manufacture and sale of wood products.
Receive News & Ratings for Potlatch Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Potlatch and related companies with MarketBeat.com's FREE daily email newsletter.