Boise Cascade (NYSE:BCC) Shares Sold by Bridge City Capital LLC

Bridge City Capital LLC reduced its position in shares of Boise Cascade (NYSE:BCC) by 3.2% during the 2nd quarter, reports. The fund owned 40,652 shares of the construction company’s stock after selling 1,348 shares during the quarter. Bridge City Capital LLC’s holdings in Boise Cascade were worth $2,372,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. FMR LLC boosted its stake in Boise Cascade by 436.4% during the first quarter. FMR LLC now owns 3,331 shares of the construction company’s stock valued at $89,000 after buying an additional 2,710 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Boise Cascade by 22.2% during the 1st quarter. First Trust Advisors LP now owns 89,785 shares of the construction company’s stock valued at $2,403,000 after acquiring an additional 16,333 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in Boise Cascade in the 1st quarter valued at approximately $747,000. Rhumbline Advisers grew its holdings in Boise Cascade by 0.6% in the 1st quarter. Rhumbline Advisers now owns 130,665 shares of the construction company’s stock valued at $7,818,000 after buying an additional 756 shares during the last quarter. Finally, Blueshift Asset Management LLC bought a new position in shares of Boise Cascade during the 1st quarter worth approximately $208,000. 91.06% of the stock is currently owned by institutional investors and hedge funds.

Shares of BCC traded down $0.02 during trading hours on Tuesday, hitting $52.67. The stock had a trading volume of 2,199 shares, compared to its average volume of 389,412. The firm has a market capitalization of $2.07 billion, a P/E ratio of 3.60, a price-to-earnings-growth ratio of 0.34 and a beta of 2.00. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.35 and a quick ratio of 1.50. Boise Cascade has a 1-year low of $36.90 and a 1-year high of $78.35. The firm has a 50 day simple moving average of $53.94 and a 200-day simple moving average of $59.71.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Sunday, August 1st. The construction company reported $7.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.87 by $2.75. Boise Cascade had a return on equity of 66.14% and a net margin of 7.93%. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the business earned $0.85 EPS. The company’s quarterly revenue was up 96.6% on a year-over-year basis. Equities analysts predict that Boise Cascade will post 15.54 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Wednesday, September 1st were issued a $0.10 dividend. The ex-dividend date was Tuesday, August 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.76%. Boise Cascade’s dividend payout ratio (DPR) is presently 6.53%.

BCC has been the subject of several research analyst reports. Zacks Investment Research upgraded Boise Cascade from a “hold” rating to a “strong-buy” rating and set a $66.00 price objective for the company in a research report on Monday, September 6th. The Goldman Sachs Group assumed coverage on Boise Cascade in a report on Thursday, July 15th. They issued a “sell” rating and a $45.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $57.83.

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

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