Hsbc Holdings PLC Has $1.13 Million Stock Holdings in Boise Cascade (NYSE:BCC)

Hsbc Holdings PLC decreased its position in shares of Boise Cascade (NYSE:BCC) by 29.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,555 shares of the construction company’s stock after selling 4,027 shares during the quarter. Hsbc Holdings PLC’s holdings in Boise Cascade were worth $1,133,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. UniSuper Management Pty Ltd acquired a new stake in shares of Boise Cascade during the 1st quarter valued at $1,055,000. BNP Paribas Financial Markets boosted its holdings in shares of Boise Cascade by 80.2% during the 1st quarter. BNP Paribas Financial Markets now owns 23,522 shares of the construction company’s stock valued at $3,608,000 after acquiring an additional 10,467 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Boise Cascade by 1,809.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,659 shares of the construction company’s stock valued at $1,638,000 after acquiring an additional 11,996 shares in the last quarter. Burney Co. acquired a new stake in shares of Boise Cascade during the 1st quarter valued at $673,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Boise Cascade by 0.8% during 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 in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Bank of America raised their target price on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. Truist Financial reaffirmed a “buy” rating and set a $154.00 target price (down from $159.00) on shares of Boise Cascade in a research report on Wednesday, August 7th. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group lowered their target price on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. One equities 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 stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $128.00.

Boise Cascade Stock Performance

BCC stock opened at $141.49 on Friday. The stock has a 50-day moving average price of $132.32 and a 200-day moving average price of $133.85. Boise Cascade has a 1-year low of $87.32 and a 1-year high of $154.67. 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 firm has a market cap of $5.59 billion, a PE ratio of 11.50 and a beta of 1.52.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, August 5th. The construction company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.16. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the company posted $3.67 EPS. The business’s quarterly revenue was down 1.0% on a year-over-year basis. As a group, equities research analysts expect that Boise Cascade will post 9.71 earnings per share for the current year.

Boise Cascade Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.59%. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, September 3rd. Boise Cascade’s payout ratio is presently 6.83%.

Boise Cascade 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.