BNP PARIBAS ASSET MANAGEMENT Holding S.A. Takes $3 Million Position in Boise Cascade (NYSE:BCC)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Boise Cascade (NYSE:BCC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 25,176 shares of the construction company’s stock, valued at approximately $3,001,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.06% of Boise Cascade at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Measured Wealth Private Client Group LLC lifted its position in shares of Boise Cascade by 1.8% during the first quarter. Measured Wealth Private Client Group LLC now owns 5,273 shares of the construction company’s stock worth $809,000 after acquiring an additional 95 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Boise Cascade by 1.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 7,776 shares of the construction company’s stock valued at $927,000 after purchasing an additional 113 shares during the period. Miller Howard Investments Inc. NY lifted its holdings in Boise Cascade by 2.1% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 5,892 shares of the construction company’s stock worth $702,000 after purchasing an additional 124 shares in the last quarter. MorganRosel Wealth Management LLC boosted its stake in Boise Cascade by 1.8% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 7,756 shares of the construction company’s stock worth $925,000 after purchasing an additional 138 shares during the period. Finally, Bridge City Capital LLC grew its holdings in Boise Cascade by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 18,270 shares of the construction company’s stock valued at $2,802,000 after buying an additional 143 shares in the last quarter. 96.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Truist Financial reissued a “buy” rating and issued a $154.00 price target (down from $159.00) on shares of Boise Cascade in a report on Wednesday, August 7th. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, The Goldman Sachs Group reduced their price target on shares of 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 given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $124.75.

Boise Cascade Stock Up 1.3 %

Shares of NYSE BCC opened at $135.62 on Monday. The business has a 50-day moving average of $127.88 and a 200-day moving average of $133.83. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 11.03 and a beta of 1.50. Boise Cascade has a 12 month low of $87.32 and a 12 month 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.

Boise Cascade (NYSE:BCC) last released its earnings results on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.16. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the firm earned $3.67 earnings per share. The firm’s revenue was down 1.0% on a year-over-year basis. Sell-side analysts expect that Boise Cascade will post 9.76 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be paid a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.84 annualized dividend and a yield of 0.62%. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. Boise Cascade’s dividend payout ratio is currently 6.50%.

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.