PNC Financial Services Group Inc. lessened its holdings in shares of Boise Cascade Co (NYSE:BCC) by 15.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125,200 shares of the construction company’s stock after selling 23,327 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Boise Cascade were worth $4,607,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. boosted its position in shares of Boise Cascade by 10.3% during the 2nd quarter. BlackRock Inc. now owns 5,648,484 shares of the construction company’s stock valued at $252,488,000 after acquiring an additional 528,529 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of Boise Cascade by 11.7% during the 2nd quarter. Macquarie Group Ltd. now owns 1,310,363 shares of the construction company’s stock valued at $58,574,000 after acquiring an additional 137,342 shares during the last quarter. Northern Trust Corp boosted its position in shares of Boise Cascade by 20.2% during the 2nd quarter. Northern Trust Corp now owns 980,253 shares of the construction company’s stock valued at $43,818,000 after acquiring an additional 164,841 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of Boise Cascade by 1.9% during the 2nd quarter. Voya Investment Management LLC now owns 907,694 shares of the construction company’s stock valued at $40,574,000 after acquiring an additional 16,671 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of Boise Cascade by 9.2% during the 2nd quarter. Millennium Management LLC now owns 871,939 shares of the construction company’s stock valued at $38,976,000 after acquiring an additional 73,805 shares during the last quarter. Hedge funds and other institutional investors own 96.10% of the company’s stock.

BCC has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Boise Cascade from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Wednesday, August 29th. ValuEngine downgraded Boise Cascade from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 1st. DA Davidson dropped their price target on Boise Cascade to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, November 7th. Vertical Research raised Boise Cascade from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Finally, Bank of America decreased their price objective on Boise Cascade from $49.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, August 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $43.50.

Shares of NYSE BCC opened at $25.40 on Wednesday. The stock has a market cap of $1.03 billion, a P/E ratio of 13.30, a PEG ratio of 1.01 and a beta of 2.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.17 and a current ratio of 2.36. Boise Cascade Co has a 1-year low of $25.08 and a 1-year high of $49.30.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Tuesday, November 6th. The construction company reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.01. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Boise Cascade had a return on equity of 17.97% and a net margin of 2.23%. Boise Cascade’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $0.81 EPS. As a group, equities analysts expect that Boise Cascade Co will post 2.84 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.42%. This is a boost from Boise Cascade’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, November 30th. Boise Cascade’s dividend payout ratio (DPR) is currently 18.85%.

ILLEGAL ACTIVITY WARNING: “Boise Cascade Co (BCC) Shares Sold by PNC Financial Services Group Inc.” was first posted by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark law. The correct version of this news story can be viewed at https://www.watchlistnews.com/boise-cascade-co-bcc-shares-sold-by-pnc-financial-services-group-inc/2662743.html.

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.

Featured Story: What are Closed-End Mutual Funds?

Want to see what other hedge funds are holding BCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boise Cascade Co (NYSE:BCC).

Institutional Ownership by Quarter for Boise Cascade (NYSE:BCC)

Receive News & Ratings for Boise Cascade Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boise Cascade and related companies with MarketBeat.com's FREE daily email newsletter.