Los Angeles Capital Management LLC Sells 10,030 Shares of Boise Cascade (NYSE:BCC)

Los Angeles Capital Management LLC cut its holdings in shares of Boise Cascade (NYSE:BCC) by 69.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,342 shares of the construction company’s stock after selling 10,030 shares during the period. Los Angeles Capital Management LLC’s holdings in Boise Cascade were worth $518,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Norges Bank bought a new stake in Boise Cascade during the fourth quarter worth about $60,383,000. Price T Rowe Associates Inc. MD raised its stake in shares of Boise Cascade by 293.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock worth $36,346,000 after purchasing an additional 176,738 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in shares of Boise Cascade by 358.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 133,961 shares of the construction company’s stock valued at $17,329,000 after buying an additional 104,713 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Boise Cascade by 22.1% in the fourth quarter. First Trust Advisors LP now owns 304,436 shares of the construction company’s stock valued at $39,382,000 after buying an additional 55,077 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in Boise Cascade by 76.4% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 88,132 shares of the construction company’s stock worth $13,517,000 after buying an additional 38,173 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Stock Up 6.6 %

Boise Cascade stock opened at $135.86 on Friday. The company’s 50-day moving average price is $129.16 and its two-hundred day moving average price is $133.28. 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 stock has a market cap of $5.36 billion, a P/E ratio of 10.98 and a beta of 1.52. Boise Cascade has a twelve month low of $87.32 and a twelve month high of $154.67.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share 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 analysts’ expectations of $1.77 billion. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. During the same period last year, the firm posted $3.67 EPS. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, analysts expect that Boise Cascade will post 9.76 EPS for the current year.

Boise Cascade Increases Dividend

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

Analysts Set New Price Targets

BCC has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their price objective on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Bank of America boosted their price target on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday. StockNews.com cut 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 set a $154.00 target price (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 given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $128.00.

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.