Sei Investments Co. Acquires 6,156 Shares of Boise Cascade (NYSE:BCC)

Sei Investments Co. increased its stake in Boise Cascade (NYSE:BCC) by 5.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,017 shares of the construction company’s stock after acquiring an additional 6,156 shares during the quarter. Sei Investments Co. owned 0.29% of Boise Cascade worth $13,474,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Measured Wealth Private Client Group LLC increased its stake in Boise Cascade by 1.8% in the first quarter. Measured Wealth Private Client Group LLC now owns 5,273 shares of the construction company’s stock valued at $809,000 after purchasing an additional 95 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in shares of Boise Cascade by 1.5% in the 2nd 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 during the period. Miller Howard Investments Inc. NY increased its position in Boise Cascade by 2.1% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 5,892 shares of the construction company’s stock valued at $702,000 after buying an additional 124 shares in the last quarter. MorganRosel Wealth Management LLC raised its stake in Boise Cascade by 1.8% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 7,756 shares of the construction company’s stock worth $925,000 after buying an additional 138 shares during the period. Finally, Bridge City Capital LLC boosted its holdings in Boise Cascade by 0.8% in the first 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 in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BCC. The Goldman Sachs Group decreased their price objective on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Truist Financial restated a “buy” rating and set a $154.00 price target (down previously from $159.00) on shares of Boise Cascade in a research note on Wednesday, August 7th. Bank of America raised their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. Finally, StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $128.00.

Boise Cascade Trading Up 0.8 %

NYSE BCC opened at $141.49 on Friday. The company has a current ratio of 3.28, a quick ratio of 2.08 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $132.32 and a 200 day simple moving average of $133.82. Boise Cascade has a 12 month low of $87.32 and a 12 month high of $154.67. The firm has a market capitalization of $5.59 billion, a P/E ratio of 11.50 and a beta of 1.52.

Boise Cascade (NYSE:BCC) last posted its 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 firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the business posted $3.67 EPS. The business’s revenue was down 1.0% compared to the same quarter last year. On average, analysts predict that Boise Cascade will post 9.71 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a $0.21 dividend. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, September 3rd. This represents a $0.84 annualized dividend and a yield of 0.59%. 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.