Invst LLC Trims Stake in Boise Cascade (NYSE:BCC)

Invst LLC lessened its position in shares of Boise Cascade (NYSE:BCC) by 3.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,932 shares of the construction company’s stock after selling 182 shares during the quarter. Invst LLC’s holdings in Boise Cascade were worth $580,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BCC. Vanguard Group Inc. increased its holdings in shares of Boise Cascade by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 4,709,276 shares of the construction company’s stock valued at $609,192,000 after acquiring an additional 35,963 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Boise Cascade by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,813,447 shares of the construction company’s stock valued at $335,419,000 after buying an additional 22,053 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of Boise Cascade by 107.7% in the second quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company’s stock valued at $133,278,000 after buying an additional 579,759 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Boise Cascade by 2.4% during the second quarter. American Century Companies Inc. now owns 897,137 shares of the construction company’s stock worth $106,957,000 after buying an additional 21,030 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Boise Cascade by 46.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company’s stock worth $45,661,000 after buying an additional 120,600 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Bank of America lifted their target price on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. Truist Financial reissued a “buy” rating and issued a $154.00 price objective (down from $159.00) on shares of Boise Cascade in a research note on Wednesday, August 7th. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, The Goldman Sachs Group dropped 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 note on Wednesday, July 10th. One 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 data from MarketBeat.com, Boise Cascade has an average rating of “Hold” and an average price target of $128.00.

Boise Cascade Trading Down 0.4 %

Shares of BCC stock opened at $140.98 on Tuesday. The business’s fifty day moving average price is $132.46 and its 200 day moving average price is $133.98. The firm has a market capitalization of $5.57 billion, a PE ratio of 11.46 and a beta of 1.52. 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 1-year low of $87.32 and a 1-year high of $154.67.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share 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 for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the company posted $3.67 EPS. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, sell-side analysts forecast that Boise Cascade will post 9.71 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.60%. Boise Cascade’s dividend payout ratio (DPR) is 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.