Renaissance Technologies LLC Sells 19,000 Shares of Boise Cascade (NYSE:BCC)

Renaissance Technologies LLC decreased its holdings in Boise Cascade (NYSE:BCC) by 8.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 203,949 shares of the construction company’s stock after selling 19,000 shares during the quarter. Renaissance Technologies LLC owned 0.52% of Boise Cascade worth $24,315,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in BCC. Norges Bank bought a new position in Boise Cascade in the 4th quarter valued at about $60,383,000. Price T Rowe Associates Inc. MD lifted its position in shares of Boise Cascade by 293.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock worth $36,346,000 after buying an additional 176,738 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of Boise Cascade by 358.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 133,961 shares of the construction company’s stock worth $17,329,000 after buying an additional 104,713 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Boise Cascade by 22.1% during the 4th quarter. First Trust Advisors LP now owns 304,436 shares of the construction company’s stock worth $39,382,000 after buying an additional 55,077 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Boise Cascade by 76.4% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 88,132 shares of the construction company’s stock worth $13,517,000 after buying an additional 38,173 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BCC shares. Bank of America lifted their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. Truist Financial reissued a “buy” rating and set a $154.00 target price (down previously from $159.00) on shares of Boise Cascade in a research report on Wednesday, August 7th. The Goldman Sachs Group dropped their target price on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Boise Cascade currently has a consensus rating of “Hold” and a consensus price target of $128.00.

Boise Cascade Trading Up 5.6 %

Shares of BCC stock opened at $144.69 on Friday. The company has a 50 day moving average of $131.19 and a 200-day moving average of $133.40. The company has a quick ratio of 2.08, a current ratio of 3.28 and a debt-to-equity ratio of 0.21. Boise Cascade has a 12-month low of $87.32 and a 12-month high of $154.67. The firm has a market cap of $5.71 billion, a P/E ratio of 11.76 and a beta of 1.52.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.16. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the business posted $3.67 EPS. Boise Cascade’s quarterly revenue was down 1.0% compared to the same quarter last year. Sell-side analysts anticipate that Boise Cascade will post 9.76 earnings per share for the current year.

Boise Cascade Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.58%. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, September 3rd. Boise Cascade’s payout ratio is currently 6.83%.

Boise Cascade Company Profile

Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through 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 shop lumber and appearance grade boards.