Rhumbline Advisers Sells 3,190 Shares of Boise Cascade (NYSE:BCC)

Rhumbline Advisers reduced its position in Boise Cascade (NYSE:BCC) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,508 shares of the construction company’s stock after selling 3,190 shares during the quarter. Rhumbline Advisers owned 0.30% of Boise Cascade worth $14,128,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Principal Securities Inc. purchased a new position in Boise Cascade in the fourth quarter valued at about $27,000. Scarborough Advisors LLC purchased a new stake in shares of Boise Cascade during the fourth quarter worth about $36,000. iA Global Asset Management Inc. purchased a new stake in shares of Boise Cascade during the first quarter worth about $82,000. Daiwa Securities Group Inc. grew its stake in shares of Boise Cascade by 500.0% during the first quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company’s stock worth $92,000 after acquiring an additional 500 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Boise Cascade by 33.4% during the second quarter. GAMMA Investing LLC now owns 787 shares of the construction company’s stock worth $94,000 after acquiring an additional 197 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Trading Up 0.0 %

Shares of NYSE:BCC opened at $121.70 on Wednesday. Boise Cascade has a 12-month low of $87.32 and a 12-month high of $154.67. The company has a market capitalization of $4.80 billion, a PE ratio of 9.89 and a beta of 1.52. The business has a 50 day moving average of $128.87 and a two-hundred day moving average of $133.40. The company has a current ratio of 3.28, a quick ratio of 2.08 and a debt-to-equity ratio of 0.21.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.16. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. The company 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 company posted $3.67 earnings per share. Boise Cascade’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, analysts forecast that Boise Cascade will post 9.76 EPS for the current year.

Boise Cascade Increases Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 0.69%. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, September 3rd. Boise Cascade’s dividend payout ratio is presently 6.83%.

Wall Street Analysts Forecast Growth

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