Sanctuary Advisors LLC Buys 686 Shares of Boise Cascade (NYSE:BCC)

Sanctuary Advisors LLC increased its position in shares of Boise Cascade (NYSE:BCC) by 11.0% during the third quarter, Holdings Channel reports. The institutional investor owned 6,937 shares of the construction company’s stock after purchasing an additional 686 shares during the quarter. Sanctuary Advisors LLC’s holdings in Boise Cascade were worth $997,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BCC. Algert Global LLC grew its holdings in shares of Boise Cascade by 8.3% during the 2nd 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Boise Cascade by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock worth $61,680,000 after buying an additional 9,128 shares in the last quarter. Seven Eight Capital LP increased its holdings in Boise Cascade by 31.6% in the 2nd quarter. Seven Eight Capital LP now owns 17,896 shares of the construction company’s stock valued at $2,134,000 after buying an additional 4,300 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of 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 buying an additional 32,303 shares in the last quarter. Finally, Integrated Wealth Concepts LLC lifted its holdings in shares of Boise Cascade by 22.4% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 23,279 shares of the construction company’s stock worth $3,282,000 after acquiring an additional 4,257 shares during the period. 96.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BCC. Bank of America upped their target price 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. Loop Capital began coverage on Boise Cascade in a research note on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective on the stock. Truist Financial raised 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. BMO Capital Markets upped their price target 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. Finally, StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. One 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $139.60.

Boise Cascade Stock Down 0.2 %

Shares of BCC opened at $122.75 on Friday. The company has a market capitalization of $4.71 billion, a P/E ratio of 12.01 and a beta of 1.53. Boise Cascade has a one year low of $113.89 and a one year high of $155.42. The business’s 50 day simple moving average is $139.84 and its 200-day simple moving average is $133.64. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 1.90.

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

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Monday, December 2nd. 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.