Westwood Holdings Group Inc. Grows Position in Boise Cascade (NYSE:BCC)

Westwood Holdings Group Inc. raised its stake in Boise Cascade (NYSE:BCC) by 107.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,117,914 shares of the construction company’s stock after acquiring an additional 579,759 shares during the period. Westwood Holdings Group Inc. owned approximately 2.83% of Boise Cascade worth $133,278,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BCC. Principal Securities Inc. purchased a new stake in shares of Boise Cascade during the 4th quarter worth approximately $27,000. Scarborough Advisors LLC bought a new stake in shares of Boise Cascade in the 4th quarter worth about $36,000. Larson Financial Group LLC bought a new stake in Boise Cascade during the second quarter worth approximately $36,000. iA Global Asset Management Inc. bought a new stake in shares of Boise Cascade in the 1st quarter valued at approximately $82,000. Finally, Daiwa Securities Group Inc. increased its position in shares of Boise Cascade by 500.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company’s stock valued at $92,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Price Performance

Shares of BCC opened at $137.44 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28. The stock has a market capitalization of $5.43 billion, a PE ratio of 11.17 and a beta of 1.52. The company has a 50 day moving average price of $131.44 and a 200-day moving average price of $133.41. Boise Cascade has a fifty-two week low of $87.32 and a fifty-two week high of $154.67.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the company posted $3.67 earnings per share. Boise Cascade’s revenue for the quarter was down 1.0% compared to the same quarter last year. Equities analysts predict that Boise Cascade will post 9.76 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.61%. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, September 3rd. Boise Cascade’s dividend payout ratio is presently 6.83%.

Analyst Ratings Changes

BCC has been the subject of several recent analyst reports. The Goldman Sachs Group dropped their price objective on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Truist Financial reiterated a “buy” rating and issued a $154.00 price target (down from $159.00) on shares of Boise Cascade in a report on Wednesday, August 7th. Bank of America increased their target price on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. Finally, StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $128.00.

About Boise Cascade

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.