Hancock Whitney Corp Cuts Holdings in Boise Cascade (NYSE:BCC)

Hancock Whitney Corp cut its holdings in Boise Cascade (NYSE:BCC) by 20.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,911 shares of the construction company’s stock after selling 1,538 shares during the quarter. Hancock Whitney Corp’s holdings in Boise Cascade were worth $705,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Measured Wealth Private Client Group LLC boosted its position 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 purchasing an additional 95 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in Boise Cascade by 1.5% in the second quarter. SummerHaven Investment Management LLC now owns 7,776 shares of the construction company’s stock valued at $927,000 after buying an additional 113 shares in the last quarter. Miller Howard Investments Inc. NY lifted its position 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 valued at $702,000 after acquiring an additional 124 shares during the period. MorganRosel Wealth Management LLC grew its holdings in shares of Boise Cascade by 1.8% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 7,756 shares of the construction company’s stock worth $925,000 after acquiring an additional 138 shares during the period. Finally, Bridge City Capital LLC grew its holdings in shares of Boise Cascade by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 18,270 shares of the construction company’s stock worth $2,802,000 after acquiring an additional 143 shares during the period. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Stock Performance

Shares of NYSE BCC opened at $141.72 on Tuesday. The company has a 50-day simple moving average of $131.75 and a 200-day simple moving average of $133.56. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.28 and a quick ratio of 2.08. The company has a market cap of $5.59 billion, a PE ratio of 11.52 and a beta of 1.52. Boise Cascade has a 12 month low of $87.32 and a 12 month high of $154.67.

Boise Cascade (NYSE:BCC) last released its earnings results on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.68 by $0.16. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the company earned $3.67 EPS. Boise Cascade’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, equities analysts anticipate that Boise Cascade will post 9.76 earnings per share for the current year.

Boise Cascade Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.59%. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, September 3rd. Boise Cascade’s dividend payout ratio (DPR) is presently 6.83%.

Wall Street Analysts Forecast Growth

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

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.