Boise Cascade (NYSE:BCC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in Boise Cascade (NYSE:BCC) by 4.1% during the 3rd quarter, Holdings Channel reports. The firm owned 203,042 shares of the construction company’s stock after selling 8,600 shares during the quarter. Principal Financial Group Inc.’s holdings in Boise Cascade were worth $28,625,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Westwood Holdings Group Inc. lifted its stake in Boise Cascade by 107.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company’s stock valued at $133,278,000 after buying an additional 579,759 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Boise Cascade by 2,978.4% in the second quarter. Marshall Wace LLP now owns 191,047 shares of the construction company’s stock valued at $22,777,000 after acquiring an additional 184,841 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Boise Cascade by 293.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock worth $36,346,000 after purchasing an additional 176,738 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in Boise Cascade by 46.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company’s stock valued at $45,661,000 after purchasing an additional 120,600 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Boise Cascade by 56.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 89,163 shares of the construction company’s stock valued at $12,570,000 after purchasing an additional 32,303 shares in the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Stock Performance

Boise Cascade stock opened at $141.13 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 2.08. 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. The stock’s 50-day moving average is $137.00 and its 200-day moving average is $132.66.

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

Boise Cascade Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently commented on BCC. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. BMO Capital Markets increased their price target on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Loop Capital started coverage on Boise Cascade in a research report on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective for the company. Truist Financial increased their target price on Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Bank of America upped their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $139.60.

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.