Ashton Thomas Private Wealth LLC Makes New $148,000 Investment in Boise Cascade (NYSE:BCC)

Ashton Thomas Private Wealth LLC purchased a new position in shares of Boise Cascade (NYSE:BCC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,242 shares of the construction company’s stock, valued at approximately $148,000.

Other institutional investors have also recently bought and sold shares of the company. Caprock Group LLC lifted its holdings in shares of Boise Cascade by 69.3% during the second quarter. Caprock Group LLC now owns 4,029 shares of the construction company’s stock valued at $480,000 after acquiring an additional 1,649 shares during the period. Gallacher Capital Management LLC lifted its holdings in shares of Boise Cascade by 52.5% during the second quarter. Gallacher Capital Management LLC now owns 4,082 shares of the construction company’s stock valued at $487,000 after acquiring an additional 1,405 shares during the period. Great Lakes Advisors LLC lifted its holdings in shares of Boise Cascade by 760.3% during the second quarter. Great Lakes Advisors LLC now owns 30,436 shares of the construction company’s stock valued at $3,629,000 after acquiring an additional 26,898 shares during the period. Arizona State Retirement System lifted its holdings in shares of Boise Cascade by 1.8% during the second quarter. Arizona State Retirement System now owns 11,076 shares of the construction company’s stock valued at $1,320,000 after acquiring an additional 196 shares during the period. Finally, Larson Financial Group LLC bought a new position in shares of Boise Cascade during the second quarter valued at $36,000. Institutional investors and hedge funds own 96.18% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on BCC. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Truist Financial reaffirmed a “buy” rating and issued a $154.00 price target (down from $159.00) on shares of Boise Cascade in a report on Wednesday, August 7th. The Goldman Sachs Group cut their price target on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Bank of America lifted their price target on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Boise Cascade has a consensus rating of “Hold” and a consensus price target of $128.00.

Boise Cascade Stock Performance

Shares of NYSE:BCC opened at $135.86 on Friday. The stock has a market capitalization of $5.36 billion, a P/E ratio of 11.05 and a beta of 1.52. Boise Cascade has a 1-year low of $87.32 and a 1-year high of $154.67. The company has a current ratio of 3.28, a quick ratio of 2.08 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average price of $129.16 and a two-hundred day moving average price of $133.28.

Boise Cascade (NYSE:BCC) last posted its 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 company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.77 billion. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the company earned $3.67 EPS. Equities analysts predict that Boise Cascade will post 9.76 earnings per share for the current year.

Boise Cascade Increases Dividend

The business also recently announced 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 is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Tuesday, September 3rd. Boise Cascade’s payout ratio is presently 6.83%.

About Boise Cascade

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.