Boise Cascade Co (NYSE:BCC) Stake Boosted by Jennison Associates LLC

Jennison Associates LLC increased its holdings in shares of Boise Cascade Co (NYSE:BCC) by 3.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,922 shares of the construction company’s stock after buying an additional 866 shares during the period. Jennison Associates LLC’s holdings in Boise Cascade were worth $667,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cable Hill Partners LLC purchased a new stake in Boise Cascade during the 1st quarter worth approximately $27,000. Royce & Associates LP increased its stake in Boise Cascade by 56.3% during the 4th quarter. Royce & Associates LP now owns 1,455 shares of the construction company’s stock worth $35,000 after buying an additional 524 shares during the period. Investors Research Corp purchased a new stake in Boise Cascade during the 1st quarter worth approximately $120,000. 6 Meridian purchased a new stake in Boise Cascade during the 1st quarter worth approximately $213,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Boise Cascade during the 4th quarter worth approximately $239,000. 90.83% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Kristopher J. Matula acquired 3,500 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were bought at an average cost of $23.12 per share, with a total value of $80,920.00. Following the transaction, the director now owns 14,049 shares in the company, valued at approximately $324,812.88. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company’s stock.

Shares of BCC opened at $25.18 on Friday. Boise Cascade Co has a fifty-two week low of $22.00 and a fifty-two week high of $47.15. The company has a current ratio of 2.54, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The company has a market cap of $964.62 million, a P/E ratio of 11.00, a price-to-earnings-growth ratio of 2.11 and a beta of 1.99.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Tuesday, May 7th. The construction company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.01. Boise Cascade had a negative net margin of 0.11% and a positive return on equity of 11.49%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the firm posted $0.94 EPS. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. On average, research analysts forecast that Boise Cascade Co will post 1.82 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Friday, May 31st. Boise Cascade’s dividend payout ratio is presently 15.72%.

Several brokerages recently weighed in on BCC. ValuEngine raised shares of Boise Cascade from a “strong sell” rating to a “sell” rating in a research note on Tuesday, March 5th. DA Davidson raised shares of Boise Cascade from a “neutral” rating to a “buy” rating and upped their target price for the stock from $35.00 to $37.00 in a research note on Wednesday, February 27th. Finally, Zacks Investment Research raised shares of Boise Cascade from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Boise Cascade currently has an average rating of “Hold” and a consensus price target of $41.75.

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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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