SG Americas Securities LLC Grows Stock Position in Boise Cascade (NYSE:BCC)

SG Americas Securities LLC grew its position in shares of Boise Cascade (NYSE:BCC) by 162.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,219 shares of the construction company’s stock after buying an additional 1,375 shares during the period. SG Americas Securities LLC’s holdings in Boise Cascade were worth $313,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC bought a new position in Boise Cascade during the second quarter worth about $36,000. iA Global Asset Management Inc. bought a new stake in Boise Cascade during the 1st quarter valued at $82,000. Daiwa Securities Group Inc. lifted its position in shares of Boise Cascade by 500.0% during the first quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company’s stock worth $92,000 after acquiring an additional 500 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Boise Cascade by 33.4% in the second quarter. GAMMA Investing LLC now owns 787 shares of the construction company’s stock worth $94,000 after acquiring an additional 197 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Boise Cascade by 423.4% in the second quarter. Blue Trust Inc. now owns 963 shares of the construction company’s stock valued at $115,000 after purchasing an additional 779 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BCC. Bank of America increased their price objective on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a report on Thursday, September 12th. The Goldman Sachs Group cut 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 report on Wednesday, July 10th. StockNews.com raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Finally, Truist Financial raised their price target on shares of Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Boise Cascade presently has a consensus rating of “Hold” and a consensus price target of $129.75.

Boise Cascade Trading Down 0.3 %

Shares of BCC opened at $141.74 on Friday. Boise Cascade has a 1-year low of $87.32 and a 1-year high of $154.67. The company has a market capitalization of $5.60 billion, a P/E ratio of 11.52 and a beta of 1.52. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.28 and a quick ratio of 2.08. The firm’s 50 day simple moving average is $134.93 and its 200 day simple moving average is $133.54.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data 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 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 the consensus estimate of $1.77 billion. During the same period in the previous year, the firm posted $3.67 EPS. The firm’s revenue was down 1.0% compared to the same quarter last year. Sell-side analysts forecast that Boise Cascade will post 9.71 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

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