Bokf Na Raises Stock Holdings in Boise Cascade (NYSE:BCC)

Bokf Na boosted its holdings in shares of Boise Cascade (NYSE:BCC) by 78.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,181 shares of the construction company’s stock after purchasing an additional 2,281 shares during the quarter. Bokf Na’s holdings in Boise Cascade were worth $618,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. 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 worth $609,192,000 after purchasing an additional 35,963 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Boise Cascade by 2.4% during the second quarter. American Century Companies Inc. now owns 897,137 shares of the construction company’s stock valued at $106,957,000 after acquiring an additional 21,030 shares during the last quarter. Norges Bank purchased a new position in shares of Boise Cascade in the fourth quarter valued at approximately $60,383,000. First Trust Advisors LP boosted 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 worth $39,382,000 after acquiring an additional 55,077 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Boise Cascade by 293.4% during the first 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. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Bank of America increased their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a report on Thursday. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $154.00 price target (down previously from $159.00) on shares of Boise Cascade in a report 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 MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $128.00.

Boise Cascade Price Performance

Boise Cascade stock opened at $135.86 on Monday. Boise Cascade has a 12-month low of $87.32 and a 12-month high of $154.67. The stock has a market cap of $5.36 billion, a P/E ratio of 11.05 and a beta of 1.52. The company has a 50-day moving average price of $129.56 and a 200 day moving average price of $133.32. 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 for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.77 billion. During the same period last year, the business earned $3.67 earnings per share. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. Sell-side analysts anticipate that Boise Cascade will post 9.76 earnings per share for the current year.

Boise Cascade Increases Dividend

The firm 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 $0.21 dividend. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, September 3rd. This represents a $0.84 annualized dividend and a dividend yield of 0.62%. Boise Cascade’s payout ratio is 6.83%.

Boise Cascade Company 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.