Intech Investment Management LLC Buys New Shares in Boise Cascade (NYSE:BCC)

Intech Investment Management LLC purchased a new position in shares of Boise Cascade (NYSE:BCC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,952 shares of the construction company’s stock, valued at approximately $829,000.

A number of other hedge funds also recently made changes to their positions in BCC. Principal Securities Inc. acquired a new position in Boise Cascade in the fourth quarter valued at $27,000. D.A. Davidson & CO. grew its holdings in shares of Boise Cascade by 2.8% during the 4th quarter. D.A. Davidson & CO. now owns 5,610 shares of the construction company’s stock worth $726,000 after purchasing an additional 155 shares during the period. US Bancorp DE increased its position in Boise Cascade by 267.6% during the 4th quarter. US Bancorp DE now owns 9,518 shares of the construction company’s stock worth $1,231,000 after purchasing an additional 6,929 shares in the last quarter. TD Asset Management Inc raised its holdings in Boise Cascade by 8.0% in the fourth quarter. TD Asset Management Inc now owns 39,300 shares of the construction company’s stock valued at $5,084,000 after buying an additional 2,900 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in Boise Cascade by 16.3% during the fourth quarter. Allianz Asset Management GmbH now owns 158,848 shares of the construction company’s stock valued at $20,549,000 after buying an additional 22,241 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Trading Down 2.6 %

NYSE:BCC opened at $138.16 on Thursday. Boise Cascade has a one year low of $87.32 and a one year high of $154.67. The business’s 50-day simple moving average is $131.94 and its 200 day simple moving average is $133.68. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 11.23 and a beta of 1.52.

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

Boise Cascade Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a $0.21 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.84 annualized dividend and a dividend yield of 0.61%. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20. Boise Cascade’s payout ratio is presently 6.83%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BCC. The Goldman Sachs Group cut their target price on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Truist Financial reissued a “buy” rating and issued a $154.00 price objective (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 note on Tuesday, August 6th. Finally, Bank of America boosted their price target on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $128.00.

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.