Waycross Investment Management Co Has $1.61 Million Stock Holdings in Boise Cascade (NYSE:BCC)

Waycross Investment Management Co decreased its holdings in shares of Boise Cascade (NYSE:BCC) by 12.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,418 shares of the construction company’s stock after selling 1,676 shares during the quarter. Boise Cascade accounts for approximately 1.5% of Waycross Investment Management Co’s holdings, making the stock its 19th biggest position. Waycross Investment Management Co’s holdings in Boise Cascade were worth $1,610,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Scarborough Advisors LLC purchased a new stake in Boise Cascade in the 4th quarter worth approximately $36,000. Larson Financial Group LLC acquired a new stake in Boise Cascade during the second quarter valued at $36,000. iA Global Asset Management Inc. acquired a new stake in Boise Cascade during the first quarter valued at $82,000. Daiwa Securities Group Inc. grew its stake in Boise Cascade by 500.0% in the first 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 in the last quarter. Finally, GAMMA Investing LLC increased its position in Boise Cascade by 33.4% in the 2nd quarter. GAMMA Investing LLC now owns 787 shares of the construction company’s stock worth $94,000 after purchasing an additional 197 shares during the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BCC. Truist Financial reiterated a “buy” rating and set a $154.00 price target (down from $159.00) on shares of Boise Cascade in a report on Wednesday, August 7th. The Goldman Sachs Group decreased their target price on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Bank of America upped their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the stock 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 assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $128.00.

Boise Cascade Stock Performance

Shares of NYSE:BCC traded up $0.61 during trading on Friday, reaching $138.90. The stock had a trading volume of 160,928 shares, compared to its average volume of 317,187. The stock has a fifty day simple moving average of $132.82 and a two-hundred day simple moving average of $134.16. 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 52 week low of $87.32 and a 52 week high of $154.67. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 11.29 and a beta of 1.52.

Boise Cascade (NYSE:BCC) last announced its earnings results on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.68 by $0.16. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.77 billion. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.67 EPS. As a group, analysts anticipate that Boise Cascade will post 9.71 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 0.60%. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. Boise Cascade’s dividend payout ratio (DPR) is 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.