Amalgamated Bank Trims Stake in Boise Cascade (NYSE:BCC)

Amalgamated Bank decreased its position in shares of Boise Cascade (NYSE:BCC) by 4.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 11,478 shares of the construction company’s stock after selling 593 shares during the period. Amalgamated Bank’s holdings in Boise Cascade were worth $1,618,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new position in shares of Boise Cascade during the 3rd quarter worth approximately $28,000. Larson Financial Group LLC purchased a new position in shares of Boise Cascade during the 2nd quarter worth approximately $36,000. iA Global Asset Management Inc. purchased a new position in shares of Boise Cascade during the 1st quarter worth approximately $82,000. 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 worth $95,000 after buying an additional 141 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Boise Cascade by 33.4% during 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 in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. BMO Capital Markets raised their price objective on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Truist Financial raised their price objective on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Loop Capital assumed coverage on Boise Cascade in a research report on Friday, November 1st. They set a “buy” rating and a $155.00 price objective for the company. Finally, Bank of America raised their price objective on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $139.60.

Boise Cascade Stock Performance

Shares of BCC opened at $141.13 on Wednesday. The business’s fifty day simple moving average is $137.00 and its two-hundred day simple moving average is $132.66. The company has a current ratio of 3.13, a quick ratio of 2.08 and a debt-to-equity ratio of 0.22. Boise Cascade has a 12 month low of $104.47 and a 12 month high of $154.67. The company has a market cap of $5.42 billion, a price-to-earnings ratio of 13.81 and a beta of 1.53.

Boise Cascade (NYSE:BCC) last issued its earnings results on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.04). The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.58 earnings per share. Research analysts anticipate that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be paid a $0.21 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.60%. Boise Cascade’s dividend payout ratio (DPR) is currently 8.22%.

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.