Stone Ridge Asset Management LLC Invests $600,000 in Boise Cascade Co (BCC)

Stone Ridge Asset Management LLC bought a new position in shares of Boise Cascade Co (NYSE:BCC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,049 shares of the construction company’s stock, valued at approximately $600,000.

Several other hedge funds have also made changes to their positions in the company. Cornercap Investment Counsel Inc. bought a new stake in shares of Boise Cascade during the fourth quarter worth $832,000. Deutsche Bank AG grew its holdings in shares of Boise Cascade by 36.1% during the fourth quarter. Deutsche Bank AG now owns 219,648 shares of the construction company’s stock worth $8,762,000 after purchasing an additional 58,283 shares during the last quarter. AMP Capital Investors Ltd bought a new stake in shares of Boise Cascade during the fourth quarter worth $307,000. BlueCrest Capital Management Ltd acquired a new position in shares of Boise Cascade during the fourth quarter valued at $225,000. Finally, Alliancebernstein L.P. lifted its stake in shares of Boise Cascade by 30.6% during the fourth quarter. Alliancebernstein L.P. now owns 128,180 shares of the construction company’s stock valued at $5,114,000 after acquiring an additional 30,050 shares during the period. Institutional investors own 94.78% of the company’s stock.

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Several equities analysts have recently issued reports on the company. Seaport Global Securities assumed coverage on Boise Cascade in a research note on Thursday, March 15th. They set a “neutral” rating on the stock. DA Davidson upped their price target on Boise Cascade to $43.00 and gave the company a “hold” rating in a research note on Tuesday, February 27th. Zacks Investment Research raised Boise Cascade from a “hold” rating to a “strong-buy” rating and set a $52.00 price target on the stock in a research note on Friday, January 26th. BMO Capital Markets reaffirmed a “hold” rating and set a $36.00 price target on shares of Boise Cascade in a research note on Thursday, January 25th. Finally, Bank of America upped their price target on Boise Cascade from $44.00 to $46.00 and gave the company a “hold” rating in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $42.60.

Boise Cascade Co (NYSE:BCC) opened at $39.05 on Monday. Boise Cascade Co has a one year low of $25.90 and a one year high of $45.95. The company has a quick ratio of 1.19, a current ratio of 2.44 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $1,506.79, a PE ratio of 18.33, a price-to-earnings-growth ratio of 2.16 and a beta of 2.10.

Boise Cascade (NYSE:BCC) last released its earnings results on Monday, February 26th. The construction company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02). Boise Cascade had a net margin of 1.87% and a return on equity of 11.85%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the company posted $0.11 EPS. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. equities research analysts expect that Boise Cascade Co will post 2.57 EPS for the current fiscal year.

The business also recently announced a Not Available dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were paid a $0.07 dividend. This represents a yield of 0.00170109356014581%. The ex-dividend date was Wednesday, February 28th. Boise Cascade’s payout ratio is 13.15%.

In other news, SVP John T. Sahlberg sold 6,582 shares of the firm’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $39.11, for a total transaction of $257,422.02. Following the sale, the senior vice president now owns 73,385 shares of the company’s stock, valued at $2,870,087.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

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Boise Cascade Profile

Boise Cascade Company is an integrated wood products manufacturer and building materials distributor with operations throughout the United States and one manufacturing facility in Canada. The Company is also a producer of engineered wood products (EWP) and plywood in North America. The Company operates through three segments: Wood Products, Building Materials Distribution, and Corporate and Other.

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

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