Thrivent Financial for Lutherans Sells 2,210 Shares of Boise Cascade (NYSE:BCC)

Thrivent Financial for Lutherans cut its position in Boise Cascade (NYSE:BCC) by 6.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,563 shares of the construction company’s stock after selling 2,210 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of Boise Cascade worth $4,309,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BOKF NA grew its stake in shares of Boise Cascade by 80.2% in the first quarter. BOKF NA now owns 2,900 shares of the construction company’s stock valued at $444,000 after acquiring an additional 1,291 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 valued at $36,346,000 after acquiring an additional 176,738 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Boise Cascade during the 1st quarter worth $745,000. iA Global Asset Management Inc. bought a new position in Boise Cascade in the first quarter valued at about $82,000. Finally, Burney Co. acquired a new stake in shares of Boise Cascade during the first quarter valued at about $673,000. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Stock Performance

Shares of BCC opened at $143.78 on Monday. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The firm’s fifty day simple moving average is $139.41 and its two-hundred day simple moving average is $133.00. Boise Cascade has a 12 month low of $106.38 and a 12 month high of $154.67. The stock has a market capitalization of $5.52 billion, a P/E ratio of 14.07 and a beta of 1.53.

Boise Cascade (NYSE:BCC) last announced 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). Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the company earned $3.58 EPS. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. As a group, analysts predict that Boise Cascade will post 9.57 EPS for the current year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.21 per share. The ex-dividend date 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 8.22%.

Analyst Ratings Changes

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

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.