Thrivent Financial for Lutherans Decreases Stake in Boise Cascade (NYSE:BCC)

Thrivent Financial for Lutherans cut its stake in Boise Cascade (NYSE:BCC) by 4.6% in the second quarter, Holdings Channel reports. The firm owned 32,773 shares of the construction company’s stock after selling 1,572 shares during the period. Thrivent Financial for Lutherans’ holdings in Boise Cascade were worth $3,907,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. US Bancorp DE grew its holdings in shares of Boise Cascade by 267.6% during the fourth quarter. US Bancorp DE now owns 9,518 shares of the construction company’s stock valued at $1,231,000 after buying an additional 6,929 shares during the last quarter. TD Asset Management Inc grew its stake in Boise Cascade by 8.0% during the 4th quarter. TD Asset Management Inc now owns 39,300 shares of the construction company’s stock valued at $5,084,000 after purchasing an additional 2,900 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Boise Cascade by 16.3% in the fourth quarter. Allianz Asset Management GmbH now owns 158,848 shares of the construction company’s stock valued at $20,549,000 after purchasing an additional 22,241 shares during the period. TFO Wealth Partners LLC raised its stake in shares of Boise Cascade by 105,250.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,107 shares of the construction company’s stock worth $259,000 after purchasing an additional 2,105 shares during the last quarter. Finally, Capstone Investment Advisors LLC lifted its holdings in shares of Boise Cascade by 4.4% during the fourth quarter. Capstone Investment Advisors LLC now owns 3,643 shares of the construction company’s stock worth $471,000 after purchasing an additional 154 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Analyst Upgrades and Downgrades

BCC has been the topic of several research reports. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. The Goldman Sachs Group cut their price objective 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 restated 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. Finally, Bank of America lifted their price objective on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $128.00.

Boise Cascade Stock Performance

Shares of NYSE BCC opened at $141.49 on Friday. The company has a market capitalization of $5.59 billion, a PE ratio of 11.50 and a beta of 1.52. 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 company’s fifty day moving average price is $132.32 and its 200 day moving average price is $133.85. Boise Cascade has a 1 year low of $87.32 and a 1 year high of $154.67.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share (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 business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the company posted $3.67 EPS. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, research analysts predict that Boise Cascade will post 9.71 earnings per share for the current year.

Boise Cascade Increases Dividend

The firm also recently disclosed 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 of this dividend was Tuesday, September 3rd. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.59%. Boise Cascade’s payout ratio is 6.83%.

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.