Boise Cascade (NYSE:BCC) Holdings Lifted by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV grew its holdings in shares of Boise Cascade (NYSE:BCC) by 7.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,992 shares of the construction company’s stock after buying an additional 2,258 shares during the period. Mercer Global Advisors Inc. ADV owned 0.08% of Boise Cascade worth $3,717,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. UniSuper Management Pty Ltd acquired a new stake in Boise Cascade in the 1st quarter valued at approximately $1,055,000. BNP Paribas Financial Markets raised its stake in shares of Boise Cascade by 80.2% during the first quarter. BNP Paribas Financial Markets now owns 23,522 shares of the construction company’s stock valued at $3,608,000 after purchasing an additional 10,467 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Boise Cascade by 1,809.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 12,659 shares of the construction company’s stock valued at $1,638,000 after purchasing an additional 11,996 shares in the last quarter. Burney Co. acquired a new stake in Boise Cascade in the first quarter worth about $673,000. Finally, Vanguard Group Inc. grew its position in Boise Cascade by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 4,709,276 shares of the construction company’s stock valued at $609,192,000 after buying an additional 35,963 shares in the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BCC has been the subject of a number of research analyst reports. The Goldman Sachs Group reduced their price target 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 restated a “buy” rating and issued a $154.00 target price (down from $159.00) on shares of Boise Cascade in a research report on Wednesday, August 7th. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Bank of America upped their price objective on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $128.00.

Boise Cascade Trading Down 5.0 %

Boise Cascade stock opened at $137.50 on Friday. The firm has a market cap of $5.43 billion, a price-to-earnings ratio of 11.18 and a beta of 1.52. Boise Cascade has a 1 year low of $87.32 and a 1 year high of $154.67. The firm’s 50 day moving average price is $131.44 and its two-hundred day moving average price is $133.44. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28.

Boise Cascade (NYSE:BCC) last announced its earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.16. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the firm earned $3.67 earnings per share. Boise Cascade’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, research analysts predict that Boise Cascade will post 9.76 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.21 per share. The ex-dividend date was Tuesday, September 3rd. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.61%. Boise Cascade’s dividend payout ratio is currently 6.83%.

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.