State Board of Administration of Florida Retirement System increased its position in shares of Boise Cascade (NYSE:BCC – Get Rating) by 3.4% during the fourth quarter, Holdings Channel reports. The fund owned 9,734 shares of the construction company’s stock after acquiring an additional 320 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Boise Cascade were worth $668,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Islay Capital Management LLC boosted its position in Boise Cascade by 17.8% during the fourth quarter. Islay Capital Management LLC now owns 6,180 shares of the construction company’s stock worth $424,000 after acquiring an additional 934 shares during the last quarter. Waycross Investment Management Co acquired a new position in shares of Boise Cascade in the 4th quarter valued at $949,000. Bailard Inc. acquired a new position in shares of Boise Cascade in the 4th quarter valued at $287,000. ProShare Advisors LLC boosted its holdings in shares of Boise Cascade by 14.8% in the 4th quarter. ProShare Advisors LLC now owns 6,235 shares of the construction company’s stock valued at $428,000 after purchasing an additional 805 shares during the last quarter. Finally, Hennessy Advisors Inc. boosted its holdings 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 purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 92.78% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have weighed in on the stock. Bank of America decreased their price target on shares of Boise Cascade from $68.00 to $65.00 in a report on Sunday, May 7th. DA Davidson lifted their price target on shares of Boise Cascade from $83.00 to $91.00 in a report on Monday, May 8th. BMO Capital Markets lifted their price target on shares of Boise Cascade from $72.00 to $78.00 in a report on Tuesday. Finally, StockNews.com started coverage on shares of Boise Cascade in a research note on Thursday. They issued a “buy” rating on the stock.
Boise Cascade Stock Performance
Boise Cascade (NYSE:BCC – Get Rating) last issued its earnings results on Friday, May 5th. The construction company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.62. Boise Cascade had a net margin of 8.57% and a return on equity of 32.79%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm posted $7.61 EPS. The business’s revenue for the quarter was down 33.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Boise Cascade will post 8.66 EPS for the current year.
Boise Cascade Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.80%. The ex-dividend date is Wednesday, May 31st. Boise Cascade’s dividend payout ratio (DPR) is 3.66%.
Boise Cascade 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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