Woodard & Co. Asset Management Group Inc. ADV purchased a new stake in Boise Cascade Co (NYSE:BCC) in the 3rd quarter, Holdings Channel reports. The firm purchased 29,443 shares of the construction company’s stock, valued at approximately $960,000. Boise Cascade makes up 0.6% of Woodard & Co. Asset Management Group Inc. ADV’s portfolio, making the stock its 24th largest position.
Other hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc grew its holdings in shares of Boise Cascade by 183.5% in the 3rd quarter. Versant Capital Management Inc now owns 788 shares of the construction company’s stock valued at $25,000 after buying an additional 510 shares during the period. Tower Research Capital LLC TRC boosted its stake in Boise Cascade by 680.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the construction company’s stock worth $44,000 after purchasing an additional 1,360 shares during the period. FMR LLC boosted its stake in Boise Cascade by 436.4% in the 1st quarter. FMR LLC now owns 3,331 shares of the construction company’s stock worth $89,000 after purchasing an additional 2,710 shares during the period. Advisory Services Network LLC acquired a new position in Boise Cascade in the 2nd quarter worth $115,000. Finally, Commonwealth Bank of Australia boosted its stake in Boise Cascade by 81.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 10,500 shares of the construction company’s stock worth $295,000 after purchasing an additional 4,700 shares during the period. 91.33% of the stock is owned by institutional investors.
NYSE BCC traded up $0.64 on Tuesday, reaching $35.99. The company had a trading volume of 8,909 shares, compared to its average volume of 248,023. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 2.23 and a beta of 2.05. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.29 and a current ratio of 2.53. Boise Cascade Co has a 1-year low of $22.00 and a 1-year high of $35.62. The company’s fifty day moving average is $31.81 and its 200-day moving average is $28.14.
Boise Cascade (NYSE:BCC) last announced its earnings results on Monday, August 5th. The construction company reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.21. Boise Cascade had a negative net margin of 0.41% and a positive return on equity of 8.46%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the business earned $1.06 EPS. The company’s revenue for the quarter was down 12.6% compared to the same quarter last year. On average, research analysts forecast that Boise Cascade Co will post 1.97 earnings per share for the current year.
In other Boise Cascade news, insider Stewart David purchased 196,000 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were purchased at an average cost of $0.23 per share, with a total value of $45,276.00. Also, EVP Dean Michael Brown sold 3,947 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $29.91, for a total transaction of $118,054.77. Following the sale, the executive vice president now directly owns 29,196 shares in the company, valued at $873,252.36. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
A number of brokerages recently weighed in on BCC. Goldman Sachs Group raised shares of Boise Cascade from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Monday, June 24th. Zacks Investment Research raised shares of Boise Cascade from a “hold” rating to a “strong-buy” rating and set a $34.00 target price for the company in a research note on Thursday, August 8th. ValuEngine raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Finally, Bank of America lowered shares of Boise Cascade from a “neutral” rating to an “underperform” rating and set a $22.00 target price for the company. in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $31.80.
Boise Cascade Company 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; and structural, appearance, and industrial plywood panels.
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