Toroso Investments LLC Takes Position in Boise Cascade (NYSE:BCC)

Toroso Investments LLC bought a new stake in Boise Cascade (NYSE:BCC – Get Rating) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 21,644 shares of the construction company’s stock, valued at approximately $1,287,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rhumbline Advisers increased its stake in shares of Boise Cascade by 5.5% in the 2nd quarter. Rhumbline Advisers now owns 115,055 shares of the construction company’s stock valued at $6,845,000 after buying an additional 5,971 shares during the period. AlphaCrest Capital Management LLC increased its stake in shares of Boise Cascade by 229.2% in the 2nd quarter. AlphaCrest Capital Management LLC now owns 36,234 shares of the construction company’s stock valued at $2,156,000 after buying an additional 25,227 shares during the period. Hennessy Advisors Inc. increased its stake in shares of Boise Cascade by 1.6% in the 3rd quarter. Hennessy Advisors Inc. now owns 38,500 shares of the construction company’s stock valued at $2,289,000 after buying an additional 600 shares during the period. Nordea Investment Management AB increased its stake in shares of Boise Cascade by 8.1% in the 2nd quarter. Nordea Investment Management AB now owns 162,343 shares of the construction company’s stock valued at $9,335,000 after buying an additional 12,133 shares during the period. Finally, Mutual of America Capital Management LLC increased its stake in shares of Boise Cascade by 16.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 6,625 shares of the construction company’s stock valued at $394,000 after buying an additional 958 shares during the period. 92.78% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Stock Down 2.6 %

Shares of Boise Cascade stock opened at $61.10 on Friday. The company has a quick ratio of 2.50, a current ratio of 3.78 and a debt-to-equity ratio of 0.23. Boise Cascade has a 12 month low of $55.14 and a 12 month high of $85.17. The business has a fifty day simple moving average of $71.05 and a 200 day simple moving average of $67.97. The stock has a market cap of $2.41 billion, a PE ratio of 2.83 and a beta of 1.54.

Boise Cascade (NYSE:BCC – Get Rating) last announced its quarterly earnings data on Wednesday, February 22nd. The construction company reported $2.95 EPS for the quarter, missing analysts’ consensus estimates of $2.97 by ($0.02). Boise Cascade had a return on equity of 46.02% and a net margin of 10.23%. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the firm earned $4.26 earnings per share. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis. Research analysts predict that Boise Cascade will post 8.2 EPS for the current year.

Boise Cascade Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, February 22nd were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.98%. This is a boost from Boise Cascade’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, February 21st. Boise Cascade’s payout ratio is presently 2.78%.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Boise Cascade in a research note on Thursday. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Boise Cascade currently has an average rating of “Hold” and a consensus target price of $73.25.

Boise Cascade Company Profile

(Get Rating)

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.