Victory Capital Management Inc. Decreases Stock Position in Boise Cascade (NYSE:BCC)

Victory Capital Management Inc. reduced its position in Boise Cascade (NYSE:BCC) by 0.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 79,812 shares of the construction company’s stock after selling 121 shares during the period. Victory Capital Management Inc. owned about 0.20% of Boise Cascade worth $11,252,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in BCC. Westwood Holdings Group Inc. raised its holdings in Boise Cascade by 107.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company’s stock worth $133,278,000 after acquiring an additional 579,759 shares during the last quarter. Marshall Wace LLP grew its position in Boise Cascade by 2,978.4% in the 2nd quarter. Marshall Wace LLP now owns 191,047 shares of the construction company’s stock worth $22,777,000 after purchasing an additional 184,841 shares during the period. Price T Rowe Associates Inc. MD grew its position in Boise Cascade by 293.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock worth $36,346,000 after purchasing an additional 176,738 shares during the period. Skandinaviska Enskilda Banken AB publ grew its position in Boise Cascade by 46.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company’s stock worth $45,661,000 after purchasing an additional 120,600 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Boise Cascade by 56.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 89,163 shares of the construction company’s stock worth $12,570,000 after purchasing an additional 32,303 shares during the period. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BCC shares. Bank of America lifted their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. BMO Capital Markets boosted their price objective on shares of Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Truist Financial boosted their price objective on shares of Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Loop Capital initiated coverage on shares of Boise Cascade in a research report on Friday, November 1st. They set a “buy” rating and a $155.00 price objective for the company. One 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, Boise Cascade currently has a consensus rating of “Hold” and an average price target of $139.60.

Boise Cascade Stock Down 0.6 %

BCC opened at $137.41 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. Boise Cascade has a fifty-two week low of $106.38 and a fifty-two week high of $154.67. The firm’s fifty day moving average is $139.00 and its 200 day moving average is $132.90. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 13.45 and a beta of 1.53.

Boise Cascade (NYSE:BCC) last released its earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.58 EPS. On average, sell-side analysts forecast that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.61%. The ex-dividend date is Monday, December 2nd. Boise Cascade’s payout ratio is currently 8.22%.

Boise Cascade 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.