US Bancorp DE Cuts Position in Boise Cascade (NYSE:BCC)

US Bancorp DE reduced its holdings in shares of Boise Cascade (NYSE:BCC) by 40.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,287 shares of the construction company’s stock after selling 3,607 shares during the quarter. US Bancorp DE’s holdings in Boise Cascade were worth $745,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in BCC. Sequoia Financial Advisors LLC lifted its holdings in shares of Boise Cascade by 4.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,757 shares of the construction company’s stock valued at $248,000 after acquiring an additional 78 shares in the last quarter. SummerHaven Investment Management LLC raised its position in Boise Cascade by 1.5% in the second quarter. SummerHaven Investment Management LLC now owns 7,776 shares of the construction company’s stock valued at $927,000 after purchasing an additional 113 shares during the period. Miller Howard Investments Inc. NY lifted its stake in shares of Boise Cascade by 2.1% during the second quarter. Miller Howard Investments Inc. NY now owns 5,892 shares of the construction company’s stock worth $702,000 after purchasing an additional 124 shares in the last quarter. First Trust Direct Indexing L.P. boosted its position in shares of Boise Cascade by 7.3% in the third quarter. First Trust Direct Indexing L.P. now owns 1,893 shares of the construction company’s stock worth $267,000 after buying an additional 128 shares during the period. Finally, Bank of Montreal Can grew its stake in shares of Boise Cascade by 1.9% in the second quarter. Bank of Montreal Can now owns 7,456 shares of the construction company’s stock valued at $890,000 after buying an additional 137 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Trading Up 1.0 %

BCC opened at $142.32 on Friday. Boise Cascade has a 12-month low of $102.13 and a 12-month high of $154.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 2.08. The stock has a market capitalization of $5.47 billion, a PE ratio of 13.93 and a beta of 1.53. The firm’s fifty day moving average price is $136.52 and its 200 day moving average price is $132.65.

Boise Cascade (NYSE:BCC) last issued its earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the company posted $3.58 EPS. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, research analysts expect that Boise Cascade will post 9.6 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 0.59%. Boise Cascade’s payout ratio is 8.22%.

Wall Street Analyst Weigh In

BCC has been the topic of several recent research reports. Truist Financial boosted their price target on Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. BMO Capital Markets boosted their target price on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Loop Capital began coverage on shares of Boise Cascade in a report on Friday, November 1st. They set a “buy” rating and a $155.00 price target for the company. Bank of America boosted 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. Finally, StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $139.60.

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.