Otter Creek Advisors adds Potlatch Corporation (PCH) to its portfolio

Potlatch Corporation (PCH) : Otter Creek Advisors added new position in Potlatch Corporation during the most recent quarter end. The investment management firm now holds 320,797 shares of Potlatch Corporation which is valued at $12,129,335 , the company said in a statement filed on Aug 15, 2016 with the SEC.Potlatch Corporation makes up approximately 4.76% of Otter Creek Advisors’s portfolio.

Other Hedge Funds, Including , Invictus Rg added PCH to its portfolio by purchasing 104 company shares during the most recent quarter which is valued at $3,932.Great West Life Assurance Co Can boosted its stake in PCH in the latest quarter, The investment management firm added 19,437 additional shares and now holds a total of 23,238 shares of Potlatch Corporation which is valued at $879,558.Louisiana State Employees Retirement System reduced its stake in PCH by selling 500 shares or 4.42% in the most recent quarter. The Hedge Fund company now holds 10,800 shares of PCH which is valued at $399,816. Potlatch Corporation makes up approx 0.02% of Louisiana State Employees Retirement System’s portfolio. Checchi Capital Advisers sold out all of its stake in PCH during the most recent quarter. The investment firm sold 701 shares of PCH which is valued $26,238.First National Bank Of Omaha reduced its stake in PCH by selling 100 shares or 1.13% in the most recent quarter. The Hedge Fund company now holds 8,757 shares of PCH which is valued at $321,207. Potlatch Corporation makes up approx 0.02% of First National Bank Of Omaha’s portfolio.

Potlatch Corporation opened for trading at $37.85 and hit $38.73 on the upside on Thursday, eventually ending the session at $38.68, with a gain of 2.14% or 0.81 points. The heightened volatility saw the trading volume jump to 1,90,394 shares. Company has a market cap of $1,567 M.

On the company’s financial health, Potlatch Corporation reported $0.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.07. The company had revenue of $141.50 million for the quarter, compared to analysts expectations of $135.32 million. The company’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.

Many Wall Street Analysts have commented on Potlatch Corporation. Shares were Downgraded by DA Davidson on Jul 27, 2016 to ” Neutral” and Lowered the Price Target to $ 40 from a previous price target of $56 .Company shares were Reiterated by RBC Capital Mkts on Jun 17, 2016 to “Outperform”, Firm has raised the Price Target to $ 45 from a previous price target of $42 .

Potlatch Corporation is a real estate investment trust (REIT). The Company owns approximately 1.6 million acres of timberlands in Alabama Arkansas Idaho Minnesota and Mississippi. The Company operates in three business segments: Resource Wood Products and Real Estate. The Resource segment manages the Company’s timberlands. Its Wood Products segment manufactures and markets lumber and plywood. The business of its Real Estate segment consists primarily of the sale of selected non-core timberland real estate which consists of three categories of property: higher and better use (HBU) rural real estate and non-strategic The Real Estate segment is engaged in real estate sales subdivision and development activities through Potlatch TRS. The Company through its wholly owned subsidiaries operates real estate sales and development business and five wood products manufacturing facilities that produce lumber and plywood.

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