Boise Cascade (NYSE:BCC) Shares Sold by Leuthold Group LLC

Leuthold Group LLC reduced its position in Boise Cascade (NYSE:BCC) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,874 shares of the construction company’s stock after selling 234 shares during the period. Leuthold Group LLC owned approximately 0.06% of Boise Cascade worth $2,965,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Boise Cascade during the fourth quarter valued at approximately $60,383,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Boise Cascade by 293.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock valued at $36,346,000 after acquiring an additional 176,738 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in Boise Cascade by 358.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 133,961 shares of the construction company’s stock worth $17,329,000 after purchasing an additional 104,713 shares during the period. First Trust Advisors LP increased its holdings in Boise Cascade by 22.1% in the 4th quarter. First Trust Advisors LP now owns 304,436 shares of the construction company’s stock valued at $39,382,000 after purchasing an additional 55,077 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in Boise Cascade by 76.4% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 88,132 shares of the construction company’s stock valued at $13,517,000 after purchasing an additional 38,173 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group decreased their target price on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Bank of America upped their price target on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a report on Thursday, September 12th. Truist Financial reiterated a “buy” rating and set a $154.00 price objective (down previously from $159.00) on shares of Boise Cascade in a research note on Wednesday, August 7th. Finally, StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $128.00.

Boise Cascade Price Performance

BCC stock opened at $137.25 on Thursday. The company has a market capitalization of $5.42 billion, a PE ratio of 11.16 and a beta of 1.52. The company has a quick ratio of 2.08, a current ratio of 3.28 and a debt-to-equity ratio of 0.21. The stock’s 50 day moving average is $130.77 and its two-hundred day moving average is $133.32. Boise Cascade has a 52-week low of $87.32 and a 52-week high of $154.67.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results 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 business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the firm earned $3.67 earnings per share. The business’s revenue was down 1.0% compared to the same quarter last year. Analysts predict that Boise Cascade will post 9.76 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.21 per share. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, September 3rd. This represents a $0.84 annualized dividend and a dividend yield of 0.61%. Boise Cascade’s dividend payout ratio (DPR) is presently 6.83%.

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.