Creative Planning Buys 1,576 Shares of Boise Cascade (NYSE:BCC)

Creative Planning raised its stake in Boise Cascade (NYSE:BCC) by 27.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,294 shares of the construction company’s stock after buying an additional 1,576 shares during the period. Creative Planning’s holdings in Boise Cascade were worth $870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Algert Global LLC boosted its holdings in shares of Boise Cascade by 8.3% in the second quarter. Algert Global LLC now owns 79,277 shares of the construction company’s stock valued at $9,451,000 after purchasing an additional 6,059 shares during the period. Mackenzie Financial Corp raised its position in Boise Cascade by 6.2% during the 2nd quarter. Mackenzie Financial Corp now owns 5,728 shares of the construction company’s stock valued at $683,000 after purchasing an additional 333 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Boise Cascade by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,931 shares of the construction company’s stock worth $2,734,000 after buying an additional 641 shares during the period. Dark Forest Capital Management LP bought a new position in shares of Boise Cascade during the 2nd quarter worth $208,000. Finally, Alpha DNA Investment Management LLC increased its stake in shares of Boise Cascade by 39.3% during the second quarter. Alpha DNA Investment Management LLC now owns 2,671 shares of the construction company’s stock valued at $318,000 after buying an additional 753 shares during the period. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Trading Up 2.5 %

NYSE BCC opened at $142.37 on Friday. 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 firm has a market cap of $5.62 billion, a PE ratio of 11.57 and a beta of 1.52. The company has a 50 day moving average price of $133.25 and a 200 day moving average price of $133.97. Boise Cascade has a 52 week low of $87.32 and a 52 week high of $154.67.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share (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 business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the company earned $3.67 earnings per share. 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 declared 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 was Tuesday, September 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.59%. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. Boise Cascade’s dividend payout ratio (DPR) is currently 6.83%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BCC shares. Truist Financial reaffirmed 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. The Goldman Sachs Group dropped their price objective 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. StockNews.com raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Bank of America upped their target price on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $128.00.

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.