Boise Cascade (NYSE:BCC) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its stake in shares of Boise Cascade (NYSE:BCC) by 3.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,071 shares of the construction company’s stock after selling 489 shares during the period. Amalgamated Bank’s holdings in Boise Cascade were worth $1,439,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Scarborough Advisors LLC purchased a new position in Boise Cascade during the 4th quarter worth approximately $36,000. Larson Financial Group LLC purchased a new stake in Boise Cascade in the 2nd quarter worth about $36,000. iA Global Asset Management Inc. acquired a new stake in Boise Cascade during the 1st quarter worth about $82,000. Daiwa Securities Group Inc. grew its stake in Boise Cascade by 500.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company’s stock valued at $92,000 after acquiring an additional 500 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Boise Cascade by 33.4% in the 2nd quarter. GAMMA Investing LLC now owns 787 shares of the construction company’s stock valued at $94,000 after purchasing an additional 197 shares during the period. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Stock Performance

Shares of BCC opened at $140.31 on Friday. The firm has a market cap of $5.54 billion, a price-to-earnings ratio of 11.41 and a beta of 1.52. The company’s fifty day moving average is $132.10 and its 200-day moving average is $133.72. The company has a quick ratio of 2.08, a current ratio of 3.28 and a debt-to-equity ratio of 0.21. Boise Cascade has a 12 month low of $87.32 and a 12 month high of $154.67.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, August 5th. The construction company reported $2.84 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 for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the business posted $3.67 earnings per share. The business’s quarterly revenue was down 1.0% on a year-over-year basis. Equities analysts expect that Boise Cascade will post 9.71 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a $0.21 dividend. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Tuesday, September 3rd. Boise Cascade’s payout ratio is 6.83%.

Analysts Set New Price Targets

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

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.