Pictet Asset Management Holding SA Has $7.30 Million Stake in Boise Cascade, L.L.C. $BCC

Key Points

• Pictet Asset Management Holding SA boosted its stake in Boise Cascade by 273.6% in the first quarter, ending with 96,313 shares valued at about $7.3 million.
• Boise Cascade reported better-than-expected quarterly earnings of $0.50 per share versus the $0.43 estimate, while revenue came in at $1.50 billion, slightly above forecasts.
• The company declared a quarterly $0.22 dividend and currently has a consensus Wall Street rating of Moderate Buy with a target price of $98.00.

Pictet Asset Management Holding SA increased its position in Boise Cascade, L.L.C. (NYSE:BCC - Free Report) by 273.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,313 shares of the construction company's stock after purchasing an additional 70,536 shares during the period. Pictet Asset Management Holding SA owned approximately 0.27% of Boise Cascade worth $7,305,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Cerity Partners LLC increased its stake in Boise Cascade by 3.8% during the 2nd quarter. Cerity Partners LLC now owns 3,274 shares of the construction company's stock valued at $284,000 after purchasing an additional 121 shares in the last quarter. Raymond James Financial Inc. raised its holdings in Boise Cascade by 1.0% during the second quarter. Raymond James Financial Inc. now owns 13,219 shares of the construction company's stock worth $1,148,000 after buying an additional 126 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Boise Cascade by 1.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 9,013 shares of the construction company's stock valued at $663,000 after buying an additional 163 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Boise Cascade by 0.8% in the fourth quarter. State of Alaska Department of Revenue now owns 21,171 shares of the construction company's stock valued at $1,558,000 after buying an additional 164 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Boise Cascade by 77.5% during the fourth quarter. Fifth Third Bancorp now owns 410 shares of the construction company's stock valued at $30,000 after buying an additional 179 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company's stock.

Insiders Place Their Bets

In related news, SVP Jill Twedt sold 6,070 shares of the business's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total transaction of $403,351.50. Following the transaction, the senior vice president directly owned 26,545 shares in the company, valued at approximately $1,763,915.25. The trade was a 18.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.42% of the company's stock.

Boise Cascade Trading Up 0.0%

NYSE BCC opened at $75.96 on Friday. The company has a current ratio of 2.77, a quick ratio of 1.37 and a debt-to-equity ratio of 0.24. The business has a fifty day simple moving average of $72.49 and a 200 day simple moving average of $76.88. Boise Cascade, L.L.C. has a 12 month low of $65.00 and a 12 month high of $95.00. The firm has a market capitalization of $2.67 billion, a P/E ratio of 25.66, a PEG ratio of 1.13 and a beta of 1.08.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The construction company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.07. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the firm earned $1.06 EPS. The business's revenue for the quarter was down 2.5% compared to the same quarter last year. On average, analysts predict that Boise Cascade, L.L.C. will post 3.67 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Monday, June 1st were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, June 1st. Boise Cascade's dividend payout ratio (DPR) is presently 29.73%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BCC shares. Zacks Research raised shares of Boise Cascade from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, May 18th. Truist Financial set a $97.00 price target on Boise Cascade in a research note on Wednesday, May 6th. Finally, DA Davidson decreased their price objective on Boise Cascade from $95.00 to $92.00 and set a "buy" rating for the company in a report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Boise Cascade has a consensus rating of "Moderate Buy" and a consensus target price of $98.00.

Boise Cascade Profile

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company's operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.

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