D.A. Davidson & CO. Sells 565 Shares of Boise Cascade (NYSE:BCC)

D.A. Davidson & CO. lowered its position in shares of Boise Cascade (NYSE:BCC) by 15.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,134 shares of the construction company’s stock after selling 565 shares during the quarter. D.A. Davidson & CO.’s holdings in Boise Cascade were worth $442,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in Boise Cascade by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,813,447 shares of the construction company’s stock worth $335,419,000 after acquiring an additional 22,053 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in shares of 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 worth $133,278,000 after purchasing an additional 579,759 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Boise Cascade by 2.4% in the 2nd quarter. American Century Companies Inc. now owns 897,137 shares of the construction company’s stock worth $106,957,000 after buying an additional 21,030 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Boise Cascade by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock valued at $61,680,000 after buying an additional 9,128 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in Boise Cascade by 46.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company’s stock valued at $45,661,000 after buying an additional 120,600 shares during the last quarter. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Trading Down 0.7 %

Shares of NYSE:BCC opened at $146.43 on Wednesday. Boise Cascade has a 52-week low of $109.01 and a 52-week high of $155.42. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 14.33 and a beta of 1.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. The stock’s 50-day simple moving average is $140.66 and its two-hundred day simple moving average is $133.56.

Boise Cascade (NYSE:BCC) last announced its 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). 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 last year, the firm posted $3.58 earnings per share. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. Analysts expect that Boise Cascade will post 9.57 EPS for the current year.

Boise Cascade Dividend Announcement

The business also recently announced 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 yield of 0.57%. Boise Cascade’s dividend payout ratio (DPR) is presently 8.22%.

Analyst Ratings Changes

A number of research firms have weighed in on BCC. StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Truist Financial upped 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. BMO Capital Markets boosted 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 assumed coverage on Boise Cascade in a report on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective for the company. Finally, Bank of America raised their price target on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. One research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.