NWQ Investment Management Company LLC lessened its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 5.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,928,856 shares of the construction company’s stock after selling 120,285 shares during the quarter. NWQ Investment Management Company LLC owned about 5.00% of Boise Cascade worth $67,317,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of BCC. Victory Capital Management Inc. lifted its stake in shares of Boise Cascade by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,753 shares of the construction company’s stock worth $114,000 after buying an additional 561 shares during the last quarter. Commonwealth Equity Services Inc acquired a new stake in shares of Boise Cascade during the 3rd quarter worth about $204,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Boise Cascade during the 3rd quarter worth about $223,000. Public Employees Retirement System of Ohio lifted its stake in shares of Boise Cascade by 2.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,655 shares of the construction company’s stock worth $233,000 after buying an additional 212 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Boise Cascade during the 2nd quarter worth about $234,000. Institutional investors own 94.77% of the company’s stock.
Several analysts have weighed in on BCC shares. Sidoti started coverage on shares of Boise Cascade in a research note on Friday, September 15th. They issued a “buy” rating for the company. DA Davidson cut shares of Boise Cascade from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research note on Tuesday, October 3rd. Zacks Investment Research upgraded shares of Boise Cascade from a “sell” rating to a “hold” rating and set a $41.00 price objective for the company in a research note on Thursday, November 2nd. Vertical Research cut shares of Boise Cascade from a “buy” rating to a “hold” rating and set a $36.00 price objective for the company. in a research note on Wednesday, October 4th. Finally, BidaskClub cut shares of Boise Cascade from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $36.40.
Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Tuesday, October 31st. The construction company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.17. Boise Cascade had a net margin of 1.59% and a return on equity of 10.66%. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the company earned $0.26 EPS. The business’s revenue was up 14.9% on a year-over-year basis. equities analysts expect that Boise Cascade, L.L.C. will post 1.92 earnings per share for the current fiscal year.
The firm also recently disclosed a Not Available dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, November 27th will be paid a $0.07 dividend. The ex-dividend date is Friday, November 24th. Boise Cascade’s dividend payout ratio (DPR) is 4.00%.
In other news, Director Thomas E. Carlile sold 17,552 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $31.75, for a total value of $557,276.00. Following the completion of the transaction, the director now directly owns 63,496 shares in the company, valued at approximately $2,015,998. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by insiders.
About Boise Cascade
Boise Cascade Company is an integrated wood products manufacturer and building materials distributor with operations throughout the United States and one manufacturing facility in Canada. The Company is also a producer of engineered wood products (EWP) and plywood in North America. The Company operates through three segments: Wood Products, Building Materials Distribution, and Corporate and Other.
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