Skandinaviska Enskilda Banken AB publ Has $45.66 Million Stock Position in Boise Cascade (NYSE:BCC)

Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Boise Cascade (NYSE:BCC) by 46.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 383,000 shares of the construction company’s stock after purchasing an additional 120,600 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned approximately 0.97% of Boise Cascade worth $45,661,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Measured Wealth Private Client Group LLC boosted its holdings in shares of Boise Cascade by 1.8% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 5,273 shares of the construction company’s stock worth $809,000 after buying an additional 95 shares during the period. SummerHaven Investment Management LLC boosted its holdings in shares of Boise Cascade by 1.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 7,776 shares of the construction company’s stock worth $927,000 after buying an additional 113 shares during the period. Miller Howard Investments Inc. NY boosted its holdings in shares of Boise Cascade by 2.1% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 5,892 shares of the construction company’s stock worth $702,000 after buying an additional 124 shares during the period. MorganRosel Wealth Management LLC boosted its holdings in shares of Boise Cascade by 1.8% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 7,756 shares of the construction company’s stock worth $925,000 after buying an additional 138 shares during the period. Finally, Bridge City Capital LLC boosted its holdings in shares of Boise Cascade by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 18,270 shares of the construction company’s stock worth $2,802,000 after buying an additional 143 shares during the period. 96.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BCC has been the subject of several recent analyst reports. Truist Financial reaffirmed a “buy” rating and set a $154.00 price objective (down from $159.00) on shares of Boise Cascade in a report on Wednesday, August 7th. Bank of America upped 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. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group reduced their price target on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Boise Cascade currently has a consensus rating of “Hold” and a consensus target price of $128.00.

Boise Cascade Price Performance

Shares of Boise Cascade stock opened at $144.69 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.28 and a quick ratio of 2.08. Boise Cascade has a fifty-two week low of $87.32 and a fifty-two week high of $154.67. The firm has a fifty day moving average price of $131.19 and a two-hundred day moving average price of $133.40. The company has a market cap of $5.71 billion, a PE ratio of 11.76 and a beta of 1.52.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Monday, August 5th. The construction company reported $2.84 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the company posted $3.67 EPS. The business’s revenue was down 1.0% on a year-over-year basis. Analysts expect that Boise Cascade will post 9.76 EPS for the current year.

Boise Cascade Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a $0.21 dividend. 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 dividend on an annualized basis and a dividend yield of 0.58%. Boise Cascade’s dividend payout ratio is currently 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.