Peregrine Capital Management LLC lowered its position in Boise Cascade (NYSE:BCC – Get Rating) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,740 shares of the construction company’s stock after selling 3,660 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.32% of Boise Cascade worth $8,635,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BCC. HighTower Advisors LLC purchased a new stake in Boise Cascade in the first quarter valued at approximately $213,000. Citigroup Inc. increased its holdings in shares of Boise Cascade by 7.0% in the first quarter. Citigroup Inc. now owns 42,016 shares of the construction company’s stock valued at $2,919,000 after purchasing an additional 2,737 shares during the period. Bank of Montreal Can increased its holdings in shares of Boise Cascade by 5.0% in the first quarter. Bank of Montreal Can now owns 12,598 shares of the construction company’s stock valued at $933,000 after purchasing an additional 598 shares during the period. MetLife Investment Management LLC increased its holdings in shares of Boise Cascade by 56.7% in the first quarter. MetLife Investment Management LLC now owns 20,948 shares of the construction company’s stock valued at $1,455,000 after purchasing an additional 7,576 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of Boise Cascade by 3.0% in the first quarter. Rhumbline Advisers now owns 109,084 shares of the construction company’s stock valued at $7,578,000 after purchasing an additional 3,138 shares during the period. Hedge funds and other institutional investors own 92.78% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, StockNews.com began coverage on Boise Cascade in a report on Thursday. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $73.25.
Boise Cascade Trading Down 2.6 %
Boise Cascade (NYSE:BCC – Get Rating) last announced its quarterly earnings data on Wednesday, February 22nd. The construction company reported $2.95 earnings per share for the quarter, missing analysts’ consensus estimates of $2.97 by ($0.02). Boise Cascade had a return on equity of 46.02% and a net margin of 10.23%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the company earned $4.26 EPS. The company’s revenue was down 8.6% on a year-over-year basis. As a group, sell-side analysts forecast that Boise Cascade will post 8.2 EPS for the current fiscal year.
Boise Cascade Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, February 22nd were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Tuesday, February 21st. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.12. Boise Cascade’s dividend payout ratio is currently 2.78%.
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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