Zurcher Kantonalbank Zurich Cantonalbank Purchases 479 Shares of Boise Cascade (NYSE:BCC)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Boise Cascade (NYSE:BCC) by 5.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,348 shares of the construction company’s stock after purchasing an additional 479 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Boise Cascade were worth $1,114,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. UniSuper Management Pty Ltd purchased a new position in Boise Cascade during the first quarter valued at approximately $1,055,000. BNP Paribas Financial Markets raised its position in shares of Boise Cascade by 80.2% in the 1st quarter. BNP Paribas Financial Markets now owns 23,522 shares of the construction company’s stock worth $3,608,000 after acquiring an additional 10,467 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Boise Cascade by 1,809.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,659 shares of the construction company’s stock worth $1,638,000 after purchasing an additional 11,996 shares during the last quarter. Burney Co. bought a new stake in Boise Cascade during the first quarter valued at about $673,000. Finally, Vanguard Group Inc. boosted its position in Boise Cascade by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 4,709,276 shares of the construction company’s stock valued at $609,192,000 after purchasing an additional 35,963 shares in the last quarter. 96.18% of the stock is owned by institutional investors.

Boise Cascade Stock Down 8.1 %

BCC stock opened at $124.67 on Wednesday. The stock has a market capitalization of $4.92 billion, a PE ratio of 10.14 and a beta of 1.50. Boise Cascade has a 52 week low of $87.32 and a 52 week high of $154.67. The company has a quick ratio of 2.08, a current ratio of 3.28 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average of $128.30 and a 200 day moving average of $133.67.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.68 by $0.16. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the firm posted $3.67 earnings per share. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. Sell-side analysts forecast that Boise Cascade will post 9.76 earnings per share for the current year.

Boise Cascade Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20. Boise Cascade’s payout ratio is presently 6.83%.

Analyst Ratings Changes

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