Deutsche Bank AG lowered its position in Boise Cascade (NYSE:BCC) by 52.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,427 shares of the construction company’s stock after selling 39,842 shares during the quarter. Deutsche Bank AG owned approximately 0.09% of Boise Cascade worth $2,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in Boise Cascade by 12.4% in the first quarter. Geode Capital Management LLC now owns 758,613 shares of the construction company’s stock worth $45,387,000 after buying an additional 83,453 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Boise Cascade by 4.8% in the first quarter. Bank of New York Mellon Corp now owns 597,440 shares of the construction company’s stock valued at $35,746,000 after purchasing an additional 27,264 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in Boise Cascade by 27.5% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 446,800 shares of the construction company’s stock valued at $26,071,000 after purchasing an additional 96,400 shares during the last quarter. Rathbone Brothers plc lifted its position in Boise Cascade by 54.4% in the second quarter. Rathbone Brothers plc now owns 419,602 shares of the construction company’s stock valued at $24,484,000 after purchasing an additional 147,888 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Boise Cascade by 2.1% in the second quarter. Principal Financial Group Inc. now owns 321,642 shares of the construction company’s stock valued at $18,768,000 after purchasing an additional 6,547 shares during the last quarter. 91.06% of the stock is owned by institutional investors and hedge funds.
BCC has been the subject of several recent research reports. Zacks Investment Research downgraded Boise Cascade from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 5th. The Goldman Sachs Group assumed coverage on Boise Cascade in a report on Thursday, July 15th. They set a “sell” rating and a $45.00 target price for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $57.83.
Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Sunday, August 1st. The construction company reported $7.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.87 by $2.75. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Boise Cascade had a return on equity of 66.14% and a net margin of 7.93%. The firm’s revenue for the quarter was up 96.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 earnings per share. On average, research analysts anticipate that Boise Cascade will post 15.54 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Wednesday, September 1st were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, August 31st. This represents a $0.40 annualized dividend and a yield of 0.69%. Boise Cascade’s payout ratio is 6.53%.
About Boise Cascade
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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