Pictet Asset Management Holding SA Increases Stock Holdings in Boise Cascade, L.L.C. $BCC

Pictet Asset Management Holding SA raised its position in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 22.2% in the second quarter, HoldingsChannel reports. The firm owned 117,675 shares of the construction company’s stock after buying an additional 21,362 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Boise Cascade were worth $9,135,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd lifted its stake in shares of Boise Cascade by 231.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock worth $29,000 after purchasing an additional 259 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Boise Cascade by 77.5% in the fourth quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock worth $30,000 after buying an additional 179 shares during the last quarter. Advisory Services Network LLC bought a new stake in Boise Cascade during the third quarter valued at approximately $38,000. UMB Bank n.a. grew its position in Boise Cascade by 98.5% during the fourth quarter. UMB Bank n.a. now owns 524 shares of the construction company’s stock valued at $39,000 after buying an additional 260 shares during the period. Finally, iSAM Funds UK Ltd purchased a new stake in Boise Cascade during the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Boise Cascade from $81.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded Boise Cascade from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Bank of America increased their price objective on shares of Boise Cascade from $80.00 to $81.00 and gave the company an “underperform” rating in a report on Tuesday, July 14th. Weiss Ratings cut shares of Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 3rd. Finally, DA Davidson boosted their target price on shares of Boise Cascade from $92.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $93.60.

Boise Cascade Trading Down 1.2%

Shares of Boise Cascade stock opened at $83.13 on Friday. Boise Cascade, L.L.C. has a twelve month low of $65.00 and a twelve month high of $91.97. The company has a quick ratio of 1.31, a current ratio of 2.71 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average price of $76.91 and a 200-day moving average price of $76.96. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 1.13 and a beta of 1.10.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, August 3rd. The construction company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.40. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%.The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the business earned $1.64 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts anticipate that Boise Cascade, L.L.C. will post 3.86 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 1st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.22. Boise Cascade’s dividend payout ratio is presently 29.83%.

Insider Activity

In other news, Director Kristopher J. Matula sold 1,930 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total transaction of $163,239.40. Following the sale, the director directly owned 13,982 shares of the company’s stock, valued at $1,182,597.56. This represents a 12.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.42% of the stock is owned by company insiders.

Boise Cascade Company Profile

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.