Bank of Montreal Can Has $3.26 Million Stake in Boise Cascade Co (BCC)
Bank of Montreal Can grew its stake in shares of Boise Cascade Co (NYSE:BCC) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 136,753 shares of the construction company’s stock after buying an additional 9,052 shares during the period. Bank of Montreal Can owned 0.35% of Boise Cascade worth $3,262,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in BCC. Northern Trust Corp increased its stake in shares of Boise Cascade by 20.2% during the second quarter. Northern Trust Corp now owns 980,253 shares of the construction company’s stock valued at $43,818,000 after acquiring an additional 164,841 shares during the period. United Services Automobile Association increased its stake in shares of Boise Cascade by 18.7% during the second quarter. United Services Automobile Association now owns 8,557 shares of the construction company’s stock valued at $383,000 after acquiring an additional 1,346 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Boise Cascade by 317.3% during the third quarter. Nisa Investment Advisors LLC now owns 31,300 shares of the construction company’s stock valued at $1,152,000 after acquiring an additional 23,800 shares during the period. Bowling Portfolio Management LLC increased its stake in shares of Boise Cascade by 470.5% during the third quarter. Bowling Portfolio Management LLC now owns 38,564 shares of the construction company’s stock valued at $1,419,000 after acquiring an additional 31,804 shares during the period. Finally, Peregrine Capital Management LLC increased its stake in shares of Boise Cascade by 2.7% during the third quarter. Peregrine Capital Management LLC now owns 667,732 shares of the construction company’s stock valued at $24,573,000 after acquiring an additional 17,650 shares during the period. Hedge funds and other institutional investors own 95.28% of the company’s stock.
A number of research firms recently commented on BCC. Zacks Investment Research upgraded shares of Boise Cascade from a “sell” rating to a “hold” rating in a research note on Monday, December 31st. BMO Capital Markets reiterated a “hold” rating and set a $32.00 price objective on shares of Boise Cascade in a research note on Wednesday, January 30th. ValuEngine lowered shares of Boise Cascade from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 1st. DA Davidson lowered their price objective on shares of Boise Cascade to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 7th. Finally, TheStreet lowered shares of Boise Cascade from a “b-” rating to a “c+” rating in a research note on Wednesday, December 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Boise Cascade presently has a consensus rating of “Hold” and a consensus price target of $41.25.
Boise Cascade (NYSE:BCC) last issued its earnings results on Tuesday, November 6th. The construction company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.01. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Boise Cascade had a net margin of 2.23% and a return on equity of 17.97%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $0.81 earnings per share. As a group, sell-side analysts anticipate that Boise Cascade Co will post 2.84 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Thursday, February 28th. Boise Cascade’s payout ratio is 18.85%.
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Boise Cascade Company Profile
Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates in two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; structural, appearance, and industrial plywood panels; and ponderosa pine lumber, studs, and particleboards.
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