Royce & Associates LP reduced its holdings in Boise Cascade Co (NYSE:BCC) by 54.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,535 shares of the construction company’s stock after selling 61,000 shares during the period. Royce & Associates LP owned about 0.13% of Boise Cascade worth $2,304,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in BCC. Point72 Asia Hong Kong Ltd purchased a new stake in shares of Boise Cascade during the 1st quarter worth about $102,000. Advisors Preferred LLC purchased a new stake in shares of Boise Cascade during the 2nd quarter worth about $176,000. Parametrica Management Ltd purchased a new stake in shares of Boise Cascade during the 2nd quarter worth about $203,000. Quadrature Capital Ltd purchased a new stake in shares of Boise Cascade during the 1st quarter worth about $208,000. Finally, LPL Financial LLC purchased a new stake in shares of Boise Cascade during the 1st quarter worth about $227,000. 95.81% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE BCC opened at $43.45 on Friday. The company has a current ratio of 2.25, a quick ratio of 1.15 and a debt-to-equity ratio of 0.57. The stock has a market cap of $1.73 billion, a PE ratio of 13.42, a P/E/G ratio of 1.44 and a beta of 1.91. Boise Cascade Co has a 52 week low of $30.45 and a 52 week high of $49.30.
The business also recently disclosed a special dividend, which will be paid on Monday, September 17th. Stockholders of record on Friday, August 31st will be issued a dividend of $1.00 per share. This represents a dividend yield of 0.63%. The ex-dividend date of this dividend is Thursday, August 30th. Boise Cascade’s dividend payout ratio is 14.66%.
A number of research firms have recently weighed in on BCC. BMO Capital Markets reaffirmed a “hold” rating and set a $41.00 price target on shares of Boise Cascade in a research note on Tuesday, July 17th. Zacks Investment Research raised Boise Cascade from a “hold” rating to a “strong-buy” rating and set a $53.00 price target for the company in a research note on Tuesday, July 17th. ValuEngine downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Finally, Bank of America cut their price target on Boise Cascade from $49.00 to $48.00 and set a “neutral” rating for the company in a research note on Tuesday, August 7th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $43.60.
In other news, VP Kelly E. Hibbs sold 4,114 shares of the stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $44.30, for a total transaction of $182,250.20. Following the transaction, the vice president now owns 34,101 shares of the company’s stock, valued at approximately $1,510,674.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Wayne M. Rancourt sold 9,872 shares of the stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $44.85, for a total value of $442,759.20. Following the transaction, the chief financial officer now directly owns 86,421 shares in the company, valued at approximately $3,875,981.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,472 shares of company stock worth $1,567,444. 1.00% of the stock is currently owned by insiders.
About Boise Cascade
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; structural, appearance, and industrial plywood panels; and ponderosa pine lumber, studs, and particleboards.
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