Navellier & Associates Inc. Raises Stock Position in Boise Cascade (NYSE:BCC)

Navellier & Associates Inc. lifted its stake in shares of Boise Cascade (NYSE:BCC) by 31.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,597 shares of the construction company’s stock after acquiring an additional 1,562 shares during the quarter. Navellier & Associates Inc.’s holdings in Boise Cascade were worth $784,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BCC. CWM LLC lifted its position in shares of Boise Cascade by 26.5% during the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock worth $95,000 after buying an additional 141 shares during the last quarter. Creative Planning raised its position in Boise Cascade by 17.9% in the 3rd quarter. Creative Planning now owns 8,596 shares of the construction company’s stock valued at $1,212,000 after purchasing an additional 1,302 shares during the last quarter. Blue Trust Inc. raised its position in Boise Cascade by 43.1% in the 3rd quarter. Blue Trust Inc. now owns 1,378 shares of the construction company’s stock valued at $194,000 after purchasing an additional 415 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position 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 during the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in Boise Cascade by 4.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,757 shares of the construction company’s stock valued at $248,000 after purchasing an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Performance

NYSE:BCC opened at $106.98 on Friday. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. Boise Cascade has a fifty-two week low of $103.57 and a fifty-two week high of $155.42. The stock has a market cap of $4.11 billion, a PE ratio of 11.19 and a beta of 1.57. The firm’s fifty day simple moving average is $123.15 and its 200-day simple moving average is $132.29.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). Boise Cascade had a return on equity of 16.89% and a net margin of 5.60%. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.57 billion. Analysts expect that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.79%. Boise Cascade’s dividend payout ratio (DPR) is presently 8.79%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Truist Financial reduced their price target on shares of Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Loop Capital began coverage on shares of Boise Cascade in a research report on Friday, November 1st. They issued a “buy” rating and a $155.00 price target for the company. Finally, The Goldman Sachs Group cut their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average 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.