Public Employees Retirement System of Ohio Buys Shares of 19,193 Boise Cascade, L.L.C. $BCC

Key Points

• Public Employees Retirement System of Ohio purchased 19,193 Boise Cascade shares valued at approximately $1.49 million, while institutional investors collectively own 96.18% of the company.
• Boise Cascade reported quarterly EPS of $1.63, exceeding estimates by $0.40, and revenue of $1.83 billion, up 5.2% year over year.
• The company raised its quarterly dividend from $0.22 to $0.23 per share, implying an annualized dividend of $0.92 and a 1.2% yield. Analysts maintain an overall “Hold” rating with an average price target of $93.60.

Public Employees Retirement System of Ohio purchased a new position in shares of Boise Cascade, L.L.C. (NYSE:BCC - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,193 shares of the construction company's stock, valued at approximately $1,490,000. Public Employees Retirement System of Ohio owned 0.06% of Boise Cascade at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. BlackRock Inc. acquired a new stake in Boise Cascade during the 2nd quarter worth approximately $463,729,000. Wellington Management Group LLP raised its stake in shares of Boise Cascade by 19.8% in the third quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company's stock valued at $252,713,000 after acquiring an additional 539,962 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Boise Cascade by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,325,781 shares of the construction company's stock valued at $176,410,000 after acquiring an additional 46,561 shares in the last quarter. State Street Corp boosted its holdings in Boise Cascade by 0.3% in the fourth quarter. State Street Corp now owns 1,472,071 shares of the construction company's stock valued at $108,344,000 after purchasing an additional 3,817 shares during the period. Finally, Norges Bank purchased a new position in Boise Cascade in the fourth quarter valued at $42,146,000. Institutional investors and hedge funds own 96.18% of the company's stock.

Boise Cascade Trading Up 0.1%

NYSE:BCC opened at $79.27 on Tuesday. Boise Cascade, L.L.C. has a 1 year low of $65.00 and a 1 year high of $91.97. The stock has a market cap of $2.77 billion, a P/E ratio of 26.87, a P/E/G ratio of 1.07 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.31 and a current ratio of 2.71. The stock has a 50-day simple moving average of $78.95 and a 200-day simple moving average of $76.21.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its earnings results on Monday, August 3rd. The construction company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.40. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.77 billion. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%.The business's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company earned $1.64 EPS. As a group, analysts anticipate that Boise Cascade, L.L.C. will post 3.86 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from Boise Cascade's previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 1.2%. Boise Cascade's dividend payout ratio is 31.19%.

Insider Buying and Selling

In related news, SVP Jill Twedt sold 1,250 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $79.40, for a total value of $99,250.00. Following the transaction, the senior vice president directly owned 25,295 shares of the company's stock, valued at $2,008,423. This trade represents a 4.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kristopher J. Matula sold 1,930 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total transaction of $163,239.40. Following the completion of the transaction, the director directly owned 13,982 shares in the company, valued at $1,182,597.56. This trade represents a 12.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.42% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BCC. Wall Street Zen upgraded Boise Cascade from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. DA Davidson increased their price target on Boise Cascade from $92.00 to $99.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Zacks Research cut Boise Cascade from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 17th. The Goldman Sachs Group boosted their price objective on Boise Cascade from $81.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $93.60.

Boise Cascade Company 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.

Want to see what other hedge funds are holding BCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boise Cascade, L.L.C. (NYSE:BCC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.