Rhumbline Advisers Buys 7,025 Shares of Boise Cascade (NYSE:BCC)

Rhumbline Advisers grew its stake in Boise Cascade (NYSE:BCC) by 6.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 120,180 shares of the construction company’s stock after purchasing an additional 7,025 shares during the period. Rhumbline Advisers owned approximately 0.31% of Boise Cascade worth $14,285,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Boise Cascade in the third quarter worth approximately $28,000. R Squared Ltd purchased a new stake in shares of Boise Cascade in the fourth quarter worth approximately $29,000. Larson Financial Group LLC raised its holdings in shares of Boise Cascade by 23.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after buying an additional 73 shares during the period. CWM LLC raised its holdings in shares of Boise Cascade by 26.5% in the third quarter. CWM LLC now owns 673 shares of the construction company’s stock worth $95,000 after buying an additional 141 shares during the period. Finally, Covestor Ltd raised its holdings in shares of Boise Cascade by 50.1% in the third quarter. Covestor Ltd now owns 689 shares of the construction company’s stock worth $97,000 after buying an additional 230 shares during the period. 96.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BCC shares. Loop Capital started coverage on Boise Cascade in a report on Friday, November 1st. They issued a “buy” rating and a $155.00 price target on the stock. The Goldman Sachs Group reduced their price objective on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Truist Financial reduced their price objective on Boise Cascade from $161.00 to $157.00 and set a “buy” rating on the stock in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $139.60.

Boise Cascade Trading Down 8.2 %

Shares of NYSE:BCC opened at $106.98 on Friday. Boise Cascade has a 12-month low of $103.57 and a 12-month high of $155.42. The business’s fifty day simple moving average is $123.15 and its 200-day simple moving average is $132.29. The company has a market capitalization of $4.11 billion, a PE ratio of 11.19 and a beta of 1.57. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). Boise Cascade had a net margin of 5.60% and a return on equity of 16.89%. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. As a group, equities research analysts predict that Boise Cascade will post 10.15 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, March 19th. Stockholders of record on Monday, February 24th will be issued a $0.21 dividend. The ex-dividend date is Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.79%. Boise Cascade’s dividend payout ratio is presently 8.79%.

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.