Pinebridge Investments L.P. Sells 5,233 Shares of Boise Cascade Co (NYSE:BCC)

Pinebridge Investments L.P. lessened its stake in shares of Boise Cascade Co (NYSE:BCC) by 10.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 44,586 shares of the construction company’s stock after selling 5,233 shares during the period. Pinebridge Investments L.P.’s holdings in Boise Cascade were worth $1,253,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BCC. Strs Ohio grew its position in Boise Cascade by 1.7% during the second quarter. Strs Ohio now owns 30,700 shares of the construction company’s stock worth $862,000 after buying an additional 500 shares in the last quarter. Piedmont Investment Advisors Inc. grew its position in Boise Cascade by 5.4% during the first quarter. Piedmont Investment Advisors Inc. now owns 9,803 shares of the construction company’s stock worth $262,000 after buying an additional 506 shares in the last quarter. Arizona State Retirement System grew its position in Boise Cascade by 1.2% during the second quarter. Arizona State Retirement System now owns 60,459 shares of the construction company’s stock worth $1,700,000 after buying an additional 745 shares in the last quarter. Texas Permanent School Fund grew its position in Boise Cascade by 3.2% during the first quarter. Texas Permanent School Fund now owns 26,283 shares of the construction company’s stock worth $703,000 after buying an additional 821 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its position in Boise Cascade by 5.8% during the second quarter. Crossmark Global Holdings Inc. now owns 15,090 shares of the construction company’s stock worth $424,000 after buying an additional 830 shares in the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.

NYSE BCC traded up $0.76 on Thursday, hitting $31.68. 2,936 shares of the company’s stock were exchanged, compared to its average volume of 190,364. The stock has a 50-day moving average of $30.01 and a 200-day moving average of $27.28. The company has a current ratio of 2.53, a quick ratio of 1.29 and a debt-to-equity ratio of 0.74. Boise Cascade Co has a 52 week low of $22.00 and a 52 week high of $41.19. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 2.04 and a beta of 2.03.

Boise Cascade (NYSE:BCC) last released its earnings results on Monday, August 5th. The construction company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.21. Boise Cascade had a positive return on equity of 8.46% and a negative net margin of 0.41%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the company earned $1.06 earnings per share. The company’s quarterly revenue was down 12.6% on a year-over-year basis. As a group, analysts predict that Boise Cascade Co will post 1.9 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.14%. The ex-dividend date was Friday, August 30th. Boise Cascade’s payout ratio is presently 15.72%.

In other Boise Cascade news, EVP Dean Michael Brown sold 3,947 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $29.91, for a total transaction of $118,054.77. Following the completion of the sale, the executive vice president now directly owns 29,196 shares in the company, valued at $873,252.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is owned by corporate insiders.

A number of equities research analysts recently issued reports on BCC shares. Zacks Investment Research raised Boise Cascade from a “hold” rating to a “strong-buy” rating and set a $34.00 price target on the stock in a research report on Thursday, August 8th. ValuEngine raised Boise Cascade from a “sell” rating to a “hold” rating in a research report on Tuesday, August 6th. Bank of America cut Boise Cascade from a “neutral” rating to an “underperform” rating and set a $22.00 target price for the company. in a research note on Friday, July 12th. Finally, Goldman Sachs Group upgraded Boise Cascade from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $31.80.

About Boise Cascade

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; and structural, appearance, and industrial plywood panels.

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

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