Boise Cascade Co (BCC) Position Lowered by First Mercantile Trust Co.
First Mercantile Trust Co. reduced its position in shares of Boise Cascade Co (NYSE:BCC) by 4.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,285 shares of the construction company’s stock after selling 491 shares during the period. First Mercantile Trust Co.’s holdings in Boise Cascade were worth $275,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Boothbay Fund Management LLC purchased a new stake in shares of Boise Cascade during the fourth quarter worth approximately $396,000. BlackRock Advisors LLC boosted its position in shares of Boise Cascade by 15.0% in the third quarter. BlackRock Advisors LLC now owns 90,391 shares of the construction company’s stock valued at $2,296,000 after buying an additional 11,791 shares during the period. Peregrine Capital Management LLC bought a new position in shares of Boise Cascade during the third quarter valued at about $25,030,000. BlackRock Group LTD boosted its position in shares of Boise Cascade by 15.5% in the third quarter. BlackRock Group LTD now owns 82,013 shares of the construction company’s stock valued at $2,082,000 after buying an additional 11,001 shares during the period. Finally, SECOR Capital Advisors LP boosted its position in shares of Boise Cascade by 269.8% in the third quarter. SECOR Capital Advisors LP now owns 71,250 shares of the construction company’s stock valued at $1,810,000 after buying an additional 51,984 shares during the period. Institutional investors and hedge funds own 97.49% of the company’s stock.
Boise Cascade Co (NYSE:BCC) traded down 0.74% during midday trading on Friday, hitting $26.75. The stock had a trading volume of 86,723 shares. The firm has a market cap of $1.03 billion, a P/E ratio of 27.30 and a beta of 2.07. Boise Cascade Co has a 12-month low of $17.80 and a 12-month high of $33.40. The stock has a 50-day moving average price of $29.28 and a 200 day moving average price of $25.55.
Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Wednesday, May 3rd. The construction company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.17. The company had revenue of $974.40 million during the quarter, compared to analyst estimates of $966.82 million. Boise Cascade had a net margin of 0.94% and a return on equity of 8.10%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.13 EPS. On average, equities analysts anticipate that Boise Cascade Co will post $1.79 earnings per share for the current fiscal year.
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Several equities analysts have recently issued reports on BCC shares. Bank of America Corp reissued a “neutral” rating and issued a $30.00 price objective (up previously from $28.00) on shares of Boise Cascade in a report on Tuesday, February 21st. Zacks Investment Research upgraded Boise Cascade from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Thursday, February 16th. TheStreet upgraded Boise Cascade from a “c” rating to a “b” rating in a research note on Friday, May 5th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $30.00 price objective on shares of Boise Cascade in a research note on Wednesday, April 12th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Boise Cascade has a consensus rating of “Buy” and an average price target of $30.75.
About Boise Cascade
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.
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