Sanctuary Advisors LLC Purchases New Position in Boise Cascade (NYSE:BCC)

Sanctuary Advisors LLC acquired a new position in Boise Cascade (NYSE:BCC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,251 shares of the construction company’s stock, valued at approximately $745,000.

Several other large investors have also bought and sold shares of BCC. Scarborough Advisors LLC purchased a new position in shares of Boise Cascade in the 4th quarter valued at approximately $36,000. Vanguard Group Inc. boosted its holdings in shares of Boise Cascade by 0.8% during 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. Bridge City Capital LLC grew its position in shares of Boise Cascade by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 18,270 shares of the construction company’s stock worth $2,802,000 after buying an additional 143 shares during the period. Range Financial Group LLC increased its stake in shares of Boise Cascade by 9.7% in the 1st quarter. Range Financial Group LLC now owns 2,826 shares of the construction company’s stock worth $433,000 after acquiring an additional 251 shares in the last quarter. Finally, Unison Advisors LLC lifted its position in Boise Cascade by 3.9% during the 1st quarter. Unison Advisors LLC now owns 7,162 shares of the construction company’s stock valued at $1,098,000 after acquiring an additional 270 shares during the period. 96.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Bank of America boosted their target price on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a report on Thursday, September 12th. Truist Financial reissued a “buy” rating and issued a $154.00 target price (down from $159.00) on shares of Boise Cascade in a research note on Wednesday, August 7th. Finally, StockNews.com raised Boise Cascade from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $128.00.

Boise Cascade Stock Performance

Shares of BCC opened at $142.37 on Monday. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 11.57 and a beta of 1.52. The business’s fifty day simple moving average is $133.25 and its two-hundred day simple moving average is $133.73. Boise Cascade has a 12 month low of $87.32 and a 12 month high of $154.67. The company has a current ratio of 3.28, a quick ratio of 2.08 and a debt-to-equity ratio of 0.21.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.77 billion. During the same period last year, the firm posted $3.67 earnings per share. Boise Cascade’s revenue was down 1.0% compared to the same quarter last year. Research analysts anticipate that Boise Cascade will post 9.71 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.59%. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, September 3rd. Boise Cascade’s payout ratio is presently 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.