Vest Financial LLC Has $1.48 Million Holdings in Boise Cascade (NYSE:BCC)

Vest Financial LLC lifted its stake in shares of Boise Cascade (NYSE:BCC) by 14.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 10,472 shares of the construction company’s stock after buying an additional 1,349 shares during the period. Vest Financial LLC’s holdings in Boise Cascade were worth $1,476,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC acquired a new stake in Boise Cascade in the second quarter worth $36,000. iA Global Asset Management Inc. acquired a new position in shares of Boise Cascade during the first quarter valued at about $82,000. Daiwa Securities Group Inc. boosted its position in shares of Boise Cascade by 500.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company’s stock worth $92,000 after purchasing an additional 500 shares in the last quarter. CWM LLC grew its stake in shares of Boise Cascade by 26.5% in the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock valued at $95,000 after buying an additional 141 shares during the period. Finally, GAMMA Investing LLC grew its stake 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 buying an additional 197 shares during the period. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Down 0.3 %

Shares of NYSE:BCC opened at $141.74 on Monday. The business’s 50 day moving average is $134.93 and its 200 day moving average is $133.42. Boise Cascade has a 12-month low of $87.32 and a 12-month high of $154.67. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 11.52 and a beta of 1.52. 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 (NYSE:BCC) last issued its quarterly earnings data on Monday, August 5th. The construction company reported $2.84 earnings per share for the quarter, beating the consensus estimate 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 period last year, the business earned $3.67 EPS. The business’s revenue was down 1.0% on a year-over-year basis. On average, sell-side analysts forecast that Boise Cascade will post 9.71 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.84 annualized dividend and a dividend yield of 0.59%. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. Boise Cascade’s dividend payout ratio (DPR) is presently 6.83%.

Analyst Ratings Changes

BCC has been the topic of a number of research reports. Bank of America upped their price target on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. The Goldman Sachs Group cut their target price on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Truist Financial boosted their price target on shares of Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, StockNews.com raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $129.75.

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.