SG Americas Securities LLC Trims Stock Position in Boise Cascade (NYSE:BCC)

SG Americas Securities LLC trimmed its stake in Boise Cascade (NYSE:BCC) by 64.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 844 shares of the construction company’s stock after selling 1,534 shares during the period. SG Americas Securities LLC’s holdings in Boise Cascade were worth $101,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. USA Financial Formulas grew its holdings in shares of Boise Cascade by 5,050.0% during the fourth quarter. USA Financial Formulas now owns 206 shares of the construction company’s stock worth $27,000 after purchasing an additional 202 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Boise Cascade in the 4th quarter valued at about $27,000. Scarborough Advisors LLC purchased a new position in Boise Cascade during the 4th quarter worth approximately $36,000. GAMMA Investing LLC purchased a new position in Boise Cascade during the 4th quarter worth approximately $80,000. Finally, iA Global Asset Management Inc. acquired a new position in Boise Cascade during the first quarter worth approximately $82,000. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Trading Down 1.9 %

NYSE:BCC opened at $135.97 on Tuesday. Boise Cascade has a 12-month low of $87.32 and a 12-month high of $154.67. The company has a current ratio of 3.24, a quick ratio of 2.05 and a debt-to-equity ratio of 0.21. The stock’s 50 day simple moving average is $127.04 and its 200-day simple moving average is $133.96. The firm has a market cap of $5.37 billion, a P/E ratio of 11.05 and a beta of 1.50.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, August 5th. The construction company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.16. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. Boise Cascade had a net margin of 7.08% and a return on equity of 22.00%. Boise Cascade’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm posted $3.67 EPS. Equities analysts anticipate that Boise Cascade will post 10.41 EPS for the current year.

Boise Cascade Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.62%. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, September 3rd. Boise Cascade’s payout ratio is 6.83%.

Analysts Set New Price Targets

Several research firms have recently weighed in on BCC. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Truist Financial reiterated a “buy” rating and set a $154.00 price target (down previously from $159.00) on shares of Boise Cascade in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group lowered their price objective on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Boise Cascade presently has an average rating of “Hold” and a consensus target price of $124.75.

Boise Cascade 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.