Boise Cascade (NYSE:BCC) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its position in shares of Boise Cascade (NYSE:BCC) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,518 shares of the construction company’s stock after selling 413 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Boise Cascade worth $3,175,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BCC. Algert Global LLC boosted its position in shares of Boise Cascade by 8.3% during the 2nd quarter. Algert Global LLC now owns 79,277 shares of the construction company’s stock worth $9,451,000 after acquiring an additional 6,059 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Boise Cascade by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock worth $61,680,000 after purchasing an additional 9,128 shares during the last quarter. Seven Eight Capital LP boosted its holdings in Boise Cascade by 31.6% in the second quarter. Seven Eight Capital LP now owns 17,896 shares of the construction company’s stock valued at $2,134,000 after purchasing an additional 4,300 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Boise Cascade by 56.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 89,163 shares of the construction company’s stock valued at $12,570,000 after purchasing an additional 32,303 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Boise Cascade by 6.2% during the second quarter. Mackenzie Financial Corp now owns 5,728 shares of the construction company’s stock worth $683,000 after purchasing an additional 333 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Wall Street Analysts Forecast Growth

BCC has been the subject of several research analyst reports. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Loop Capital began coverage on Boise Cascade in a report on Friday, November 1st. They set a “buy” rating and a $155.00 price objective on the stock. Bank of America boosted their target price on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. Truist Financial raised their price target on Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, BMO Capital Markets boosted their price objective on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $139.60.

Boise Cascade Stock Performance

NYSE BCC opened at $145.86 on Friday. The firm has a market cap of $5.60 billion, a P/E ratio of 14.27 and a beta of 1.53. Boise Cascade has a 52-week low of $109.01 and a 52-week high of $155.42. The business’s 50-day moving average price is $141.00 and its 200 day moving average price is $133.75. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last announced its earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $1.72 billion. During the same quarter last year, the business posted $3.58 earnings per share. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, equities research analysts expect that Boise Cascade will post 9.57 earnings per share for the current year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 0.58%. Boise Cascade’s payout ratio is currently 8.22%.

About Boise Cascade

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.