Hennessy Advisors Inc. cut its holdings in Boise Cascade Co (NYSE:BCC) by 91.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,000 shares of the construction company’s stock after selling 852,100 shares during the period. Hennessy Advisors Inc. owned about 0.21% of Boise Cascade worth $3,054,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Point72 Asia Hong Kong Ltd bought a new position in shares of Boise Cascade in the first quarter valued at approximately $102,000. Advisors Preferred LLC bought a new position in shares of Boise Cascade in the second quarter valued at approximately $176,000. Parametrica Management Ltd bought a new position in shares of Boise Cascade in the second quarter valued at approximately $203,000. CIBC Asset Management Inc bought a new position in shares of Boise Cascade in the second quarter valued at approximately $208,000. Finally, Sun Life Financial INC bought a new position in shares of Boise Cascade in the second quarter valued at approximately $216,000. 95.80% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on the company. Zacks Investment Research raised Boise Cascade from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Wednesday, August 29th. Bank of America reduced their price objective on Boise Cascade from $49.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, August 7th. ValuEngine lowered Boise Cascade from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. BMO Capital Markets reissued a “hold” rating and set a $41.00 price objective on shares of Boise Cascade in a report on Tuesday, July 17th. Finally, Vertical Research raised Boise Cascade from a “hold” rating to a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $45.50.
In other Boise Cascade news, EVP Daniel G. Hutchinson sold 13,671 shares of the stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $43.79, for a total transaction of $598,653.09. Following the completion of the transaction, the executive vice president now directly owns 43,223 shares of the company’s stock, valued at $1,892,735.17. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Wayne M. Rancourt sold 9,872 shares of the stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $44.85, for a total value of $442,759.20. Following the sale, the chief financial officer now owns 86,421 shares in the company, valued at approximately $3,875,981.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,472 shares of company stock valued at $1,567,444. 1.20% of the stock is owned by corporate insiders.
Shares of NYSE BCC opened at $32.60 on Friday. Boise Cascade Co has a 1-year low of $31.73 and a 1-year high of $49.30. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.19 and a beta of 1.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.25 and a quick ratio of 1.15.
Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Monday, August 6th. The construction company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.19. Boise Cascade had a return on equity of 18.66% and a net margin of 2.64%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company earned $0.57 earnings per share. Boise Cascade’s revenue was up 23.6% compared to the same quarter last year. Analysts anticipate that Boise Cascade Co will post 3.45 earnings per share for the current year.
The company also recently disclosed a special dividend, which was paid on Monday, September 17th. Shareholders of record on Friday, August 31st were issued a dividend of $1.00 per share. This represents a yield of 0.63%. The ex-dividend date of this dividend was Thursday, August 30th. Boise Cascade’s dividend payout ratio (DPR) is 14.66%.
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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