Cwm LLC Grows Position in Boise Cascade (NYSE:BCC)

Cwm LLC boosted its stake in shares of Boise Cascade (NYSE:BCC) by 26.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 673 shares of the construction company’s stock after purchasing an additional 141 shares during the period. Cwm LLC’s holdings in Boise Cascade were worth $95,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Measured Wealth Private Client Group LLC lifted its position in shares of Boise Cascade by 1.8% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 5,273 shares of the construction company’s stock worth $809,000 after buying an additional 95 shares during the last quarter. Monument Capital Management acquired a new position in Boise Cascade in the first quarter worth approximately $234,000. United Capital Management of KS Inc. raised its holdings in Boise Cascade by 3.8% during the 1st quarter. United Capital Management of KS Inc. now owns 27,798 shares of the construction company’s stock worth $4,263,000 after buying an additional 1,014 shares during the period. First Trust Direct Indexing L.P. acquired a new stake in Boise Cascade during the 1st quarter valued at $204,000. Finally, Van ECK Associates Corp boosted its position in shares of Boise Cascade by 25.7% in the first quarter. Van ECK Associates Corp now owns 15,758 shares of the construction company’s stock worth $2,417,000 after buying an additional 3,226 shares during the period. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Stock Performance

NYSE BCC opened at $135.38 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 firm has a market capitalization of $5.34 billion, a P/E ratio of 11.01 and a beta of 1.52. Boise Cascade has a 1 year low of $87.32 and a 1 year high of $154.67. The firm’s fifty day moving average price is $135.76 and its two-hundred day moving average price is $133.12.

Boise Cascade (NYSE:BCC) last announced its earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the business posted $3.67 earnings per share. Boise Cascade’s quarterly revenue was down 1.0% on a year-over-year basis. As a group, research analysts anticipate that Boise Cascade will post 9.71 EPS for the current year.

Boise Cascade Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.84 annualized dividend and a dividend yield of 0.62%. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20. Boise Cascade’s dividend payout ratio is currently 6.83%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BCC. StockNews.com upgraded Boise Cascade from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Truist Financial upped their price objective on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. 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 note on Wednesday, July 10th. BMO Capital Markets increased their target price on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, Bank of America increased their target price on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Boise Cascade currently has an average rating of “Hold” and an average price target of $135.75.

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.