Boise Cascade (NYSE:BCC) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC cut its holdings in shares of Boise Cascade (NYSE:BCC) by 21.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,885 shares of the construction company’s stock after selling 504 shares during the period. HighTower Advisors LLC’s holdings in Boise Cascade were worth $265,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Harbor Capital Advisors Inc. acquired a new position in Boise Cascade during the third quarter worth $28,000. Larson Financial Group LLC purchased a new position in Boise Cascade in the 2nd quarter valued at about $36,000. CWM LLC lifted its stake in Boise Cascade by 26.5% in the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock valued at $95,000 after buying an additional 141 shares in the last quarter. Covestor Ltd lifted its stake in Boise Cascade by 50.1% in the 3rd quarter. Covestor Ltd now owns 689 shares of the construction company’s stock valued at $97,000 after buying an additional 230 shares in the last quarter. Finally, KBC Group NV boosted its holdings in Boise Cascade by 19.0% in the 3rd quarter. KBC Group NV now owns 1,226 shares of the construction company’s stock worth $173,000 after buying an additional 196 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BCC. BMO Capital Markets raised their target price on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Truist Financial increased their target price on shares of Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Loop Capital started coverage on shares of Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 price objective for the company. Finally, Bank of America raised their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $139.60.

Boise Cascade Trading Down 0.4 %

Shares of BCC stock opened at $122.24 on Tuesday. Boise Cascade has a fifty-two week low of $113.89 and a fifty-two week high of $155.42. The company has a 50 day moving average price of $139.42 and a 200 day moving average price of $133.58. The stock has a market capitalization of $4.69 billion, a P/E ratio of 11.96 and a beta of 1.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.04). The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.72 billion. Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The business’s revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.58 EPS. Equities research analysts predict that Boise Cascade will post 9.57 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were paid a $0.21 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 0.69%. Boise Cascade’s dividend payout ratio is currently 8.22%.

Boise Cascade Company 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.