The Manufacturers Life Insurance Company Purchases 641 Shares of Boise Cascade (NYSE:BCC)

The Manufacturers Life Insurance Company boosted its position in Boise Cascade (NYSE:BCC) by 2.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,931 shares of the construction company’s stock after acquiring an additional 641 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of Boise Cascade worth $2,734,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in BCC. Tower Research Capital LLC TRC increased its stake in Boise Cascade by 1,809.4% in 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 acquiring an additional 11,996 shares during the last quarter. Scarborough Advisors LLC bought a new position in shares of Boise Cascade during the fourth quarter valued at about $36,000. Cim LLC bought a new position in shares of Boise Cascade during the fourth quarter valued at about $353,000. Vanguard Group Inc. grew its stake in shares of Boise Cascade by 0.8% during the fourth 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 during the last quarter. Finally, Bridge City Capital LLC grew its stake in shares of Boise Cascade by 0.8% during the first quarter. Bridge City Capital LLC now owns 18,270 shares of the construction company’s stock valued at $2,802,000 after buying an additional 143 shares during the last quarter. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Performance

Boise Cascade stock opened at $142.02 on Wednesday. The company has a current ratio of 3.28, a quick ratio of 2.08 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average of $132.87 and a 200-day moving average of $133.93. The firm has a market cap of $5.61 billion, a P/E ratio of 11.55 and a beta of 1.52. Boise Cascade has a 1-year low of $87.32 and a 1-year high of $154.67.

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

Boise Cascade Increases Dividend

The business also recently disclosed 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 was Tuesday, September 3rd. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.59%. Boise Cascade’s dividend payout ratio (DPR) is 6.83%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BCC. Truist Financial reaffirmed a “buy” rating and set a $154.00 price objective (down from $159.00) on shares of Boise Cascade in a research note on Wednesday, August 7th. StockNews.com raised Boise Cascade from a “hold” rating to a “buy” rating in a research note on Tuesday. The Goldman Sachs Group reduced their price objective on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Bank of America raised their price objective on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Boise Cascade has an average rating of “Hold” and an average price target of $128.00.

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.