6 Meridian acquired a new stake in shares of Boise Cascade Co (NYSE:BCC) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,974 shares of the construction company’s stock, valued at approximately $213,000.
Other large investors have also recently modified their holdings of the company. Royce & Associates LP raised its stake in shares of Boise Cascade by 56.3% during the fourth quarter. Royce & Associates LP now owns 1,455 shares of the construction company’s stock valued at $35,000 after acquiring an additional 524 shares during the last quarter. IMS Capital Management bought a new position in Boise Cascade in the third quarter worth about $37,000. Paradigm Asset Management Co. LLC bought a new position in Boise Cascade in the third quarter worth about $46,000. Quantamental Technologies LLC bought a new position in Boise Cascade in the fourth quarter worth about $62,000. Finally, Vident Investment Advisory LLC bought a new position in Boise Cascade in the third quarter worth about $209,000. 95.27% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on BCC shares. DA Davidson raised shares of Boise Cascade from a “neutral” rating to a “buy” rating and increased their price target for the stock from $35.00 to $37.00 in a research note on Wednesday, February 27th. TheStreet downgraded shares of Boise Cascade from a “b-” rating to a “c+” rating in a research note on Wednesday, December 19th. BMO Capital Markets reissued a “hold” rating and issued a $32.00 price target on shares of Boise Cascade in a research note on Wednesday, January 30th. Zacks Investment Research raised shares of Boise Cascade from a “sell” rating to a “hold” rating in a research note on Monday, December 31st. Finally, ValuEngine raised shares of Boise Cascade from a “strong sell” rating to a “sell” rating in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Boise Cascade has a consensus rating of “Hold” and an average price target of $41.75.
Boise Cascade (NYSE:BCC) last announced its earnings results on Tuesday, February 26th. The construction company reported ($1.85) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($1.84). Boise Cascade had a net margin of 0.41% and a return on equity of 14.93%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the business posted $0.49 EPS. Boise Cascade’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, sell-side analysts anticipate that Boise Cascade Co will post 1.97 EPS for the current year.
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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; structural, appearance, and industrial plywood panels; and ponderosa pine lumber, studs, and particleboards.
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