GSA Capital Partners LLP increased its stake in shares of Boise Cascade Co (NYSE:BCC) by 11.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,553 shares of the construction company’s stock after purchasing an additional 6,504 shares during the period. GSA Capital Partners LLP owned approximately 0.16% of Boise Cascade worth $2,265,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Zacks Investment Management grew its stake in Boise Cascade by 18.8% in the second quarter. Zacks Investment Management now owns 25,409 shares of the construction company’s stock valued at $1,136,000 after acquiring an additional 4,014 shares during the period. First Quadrant L P CA grew its stake in Boise Cascade by 55.8% in the third quarter. First Quadrant L P CA now owns 10,010 shares of the construction company’s stock valued at $368,000 after acquiring an additional 3,584 shares during the period. Russell Investments Group Ltd. grew its stake in Boise Cascade by 88.9% in the second quarter. Russell Investments Group Ltd. now owns 31,997 shares of the construction company’s stock valued at $1,416,000 after acquiring an additional 15,054 shares during the period. Martingale Asset Management L P acquired a new position in Boise Cascade in the second quarter valued at about $618,000. Finally, Sun Life Financial INC acquired a new position in Boise Cascade in the second quarter valued at about $216,000. 95.63% of the stock is owned by institutional investors and hedge funds.
BCC has been the subject of a number of research analyst reports. Vertical Research raised Boise Cascade from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. 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 research note on Wednesday, August 29th. ValuEngine cut Boise Cascade from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. DA Davidson decreased their target price on Boise Cascade to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, November 7th. Finally, Bank of America decreased their target price on Boise Cascade from $49.00 to $48.00 and set a “neutral” rating for the company in a research note on Tuesday, August 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Boise Cascade presently has a consensus rating of “Hold” and a consensus price target of $43.50.
Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Tuesday, November 6th. The construction company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.01. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Boise Cascade had a return on equity of 17.97% and a net margin of 2.23%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.81 earnings per share. As a group, equities research analysts anticipate that Boise Cascade Co will post 2.84 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.35%. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, November 30th. Boise Cascade’s payout ratio is 14.66%.
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About Boise Cascade
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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