TD Asset Management Inc Sells 1,200 Shares of Boise Cascade (NYSE:BCC)

TD Asset Management Inc reduced its position in shares of Boise Cascade (NYSE:BCC) by 3.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,300 shares of the construction company’s stock after selling 1,200 shares during the period. TD Asset Management Inc owned about 0.09% of Boise Cascade worth $4,447,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Securities Inc. acquired a new position in shares of Boise Cascade in the fourth quarter worth approximately $27,000. Scarborough Advisors LLC acquired a new position in shares of Boise Cascade in the fourth quarter worth approximately $36,000. Larson Financial Group LLC acquired a new position in shares of Boise Cascade in the second quarter worth approximately $36,000. iA Global Asset Management Inc. acquired a new position in shares of Boise Cascade in the first quarter worth approximately $82,000. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Boise Cascade by 500.0% in 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 period. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Trading Up 0.3 %

NYSE BCC opened at $122.09 on Thursday. The company has a market cap of $4.82 billion, a price-to-earnings ratio of 9.93 and a beta of 1.52. Boise Cascade has a 52 week low of $87.32 and a 52 week high of $154.67. The business has a 50 day moving average price of $128.87 and a 200-day moving average price of $133.40. The company has a quick ratio of 2.08, a current ratio of 3.28 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, topping the consensus estimate of $2.68 by $0.16. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.77 billion. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. Boise Cascade’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.67 earnings per share. As a group, equities analysts expect that Boise Cascade will post 9.76 earnings per share for the current fiscal 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 given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Tuesday, September 3rd. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. Boise Cascade’s dividend payout ratio is currently 6.83%.

Analysts Set New Price Targets

A number of research firms recently commented on BCC. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. 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. Finally, Truist Financial reissued a “buy” rating and issued a $154.00 price target (down from $159.00) on shares of Boise Cascade in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.