US Bancorp DE reduced its position in Boise Cascade (NYSE:BCC) by 10.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,925 shares of the construction company’s stock after selling 792 shares during the period. US Bancorp DE’s holdings in Boise Cascade were worth $404,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of BCC. Wasatch Advisors Inc. purchased a new stake in shares of Boise Cascade in the first quarter worth about $20,011,000. Rathbone Brothers plc purchased a new stake in shares of Boise Cascade in the first quarter worth about $16,257,000. Schroder Investment Management Group purchased a new stake in shares of Boise Cascade in the first quarter worth about $8,655,000. Nordea Investment Management AB purchased a new stake in shares of Boise Cascade in the first quarter worth about $8,272,000. Finally, Amundi Asset Management US Inc. purchased a new stake in shares of Boise Cascade in the first quarter worth about $5,995,000. Institutional investors own 91.06% of the company’s stock.
A number of equities research analysts have issued reports on BCC shares. The Goldman Sachs Group started coverage on Boise Cascade in a research report on Thursday, July 15th. They set a “sell” rating and a $45.00 price objective on the stock. Zacks Investment Research upgraded Boise Cascade from a “hold” rating to a “strong-buy” rating and set a $66.00 price objective on the stock in a research report on Monday, September 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Boise Cascade currently has a consensus rating of “Hold” and a consensus price target of $57.83.
Boise Cascade (NYSE:BCC) last released its earnings results on Sunday, August 1st. The construction company reported $7.62 EPS for the quarter, beating analysts’ consensus estimates of $4.87 by $2.75. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Boise Cascade had a return on equity of 66.14% and a net margin of 7.93%. The company’s quarterly revenue was up 96.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 earnings per share. As a group, analysts predict that Boise Cascade will post 15.54 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 15th. Stockholders of record on Wednesday, September 1st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, August 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.74%. Boise Cascade’s dividend payout ratio is 6.53%.
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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