Allspring Global Investments Holdings LLC Purchases 32,303 Shares of Boise Cascade (NYSE:BCC)

Allspring Global Investments Holdings LLC raised its holdings in shares of Boise Cascade (NYSE:BCC) by 56.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,163 shares of the construction company’s stock after acquiring an additional 32,303 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.23% of Boise Cascade worth $12,570,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in shares of Boise Cascade by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,813,447 shares of the construction company’s stock worth $335,419,000 after purchasing an additional 22,053 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in Boise Cascade by 107.7% during the 2nd 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 in the last quarter. American Century Companies Inc. raised its position 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 valued at $106,957,000 after buying an additional 21,030 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Boise Cascade by 46.0% in 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Boise Cascade by 293.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock worth $36,346,000 after acquiring an additional 176,738 shares during the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Boise Cascade Price Performance

NYSE:BCC opened at $135.38 on Friday. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 11.01 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. The business has a 50 day simple moving average of $135.76 and a 200-day simple moving average of $133.12. 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 data 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 company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the firm earned $3.67 earnings per share. Boise Cascade’s quarterly revenue was down 1.0% compared to the same quarter last year. Equities analysts forecast that Boise Cascade will post 9.71 EPS for the current year.

Boise Cascade Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.62%. This is an increase 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 is presently 6.83%.

Wall Street Analysts Forecast Growth

BCC has been the topic of a number of research reports. Bank of America lifted their price target 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. BMO Capital Markets boosted their target price on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday. Truist Financial raised their price target on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. The Goldman Sachs Group decreased their price objective on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, StockNews.com raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Boise Cascade presently has a consensus rating of “Hold” and an average target price of $135.75.

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.