Boise Cascade (NYSE:BCC) Shares Sold by Caprock Group LLC

Caprock Group LLC trimmed its stake in shares of Boise Cascade (NYSE:BCC) by 8.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,701 shares of the construction company’s stock after selling 328 shares during the quarter. Caprock Group LLC’s holdings in Boise Cascade were worth $522,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Algert Global LLC raised its stake in shares of Boise Cascade by 8.3% during the second quarter. Algert Global LLC now owns 79,277 shares of the construction company’s stock worth $9,451,000 after purchasing an additional 6,059 shares during the last quarter. Burney Co. purchased a new position in Boise Cascade during the 1st quarter worth $673,000. Seven Eight Capital LP lifted its stake in shares of Boise Cascade by 31.6% in the 2nd quarter. Seven Eight Capital LP now owns 17,896 shares of the construction company’s stock worth $2,134,000 after acquiring an additional 4,300 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Boise Cascade by 56.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 89,163 shares of the construction company’s stock valued at $12,570,000 after acquiring an additional 32,303 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Boise Cascade by 293.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock worth $36,346,000 after acquiring an additional 176,738 shares during the period. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Boise Cascade Stock Up 2.5 %

Boise Cascade stock opened at $143.81 on Friday. Boise Cascade has a fifty-two week low of $106.38 and a fifty-two week high of $154.67. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 14.06 and a beta of 1.53. The stock’s fifty day moving average is $139.25 and its two-hundred day moving average is $132.95. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). The business 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%. Boise Cascade’s revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.58 earnings per share. Analysts predict that Boise Cascade will post 9.57 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 0.58%. Boise Cascade’s dividend payout ratio is currently 8.22%.

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.