Vanguard Personalized Indexing Management LLC Sells 536 Shares of Boise Cascade (NYSE:BCC)

Vanguard Personalized Indexing Management LLC cut its stake in shares of Boise Cascade (NYSE:BCC) by 10.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,404 shares of the construction company’s stock after selling 536 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Boise Cascade were worth $525,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. UniSuper Management Pty Ltd bought a new position in shares of Boise Cascade during the 1st quarter worth about $1,055,000. BNP Paribas Financial Markets boosted its holdings in Boise Cascade by 80.2% in the first quarter. BNP Paribas Financial Markets now owns 23,522 shares of the construction company’s stock worth $3,608,000 after acquiring an additional 10,467 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Boise Cascade by 1,809.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,659 shares of the construction company’s stock valued at $1,638,000 after acquiring an additional 11,996 shares during the period. Burney Co. bought a new stake in shares of Boise Cascade during the first quarter valued at approximately $673,000. Finally, Vanguard Group Inc. raised its position in shares of 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 during the period. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Stock Performance

Shares of BCC stock opened at $140.31 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.28 and a quick ratio of 2.08. The firm has a 50-day moving average of $132.10 and a 200-day moving average of $133.72. Boise Cascade has a one year low of $87.32 and a one year high of $154.67. The company has a market cap of $5.54 billion, a P/E ratio of 11.41 and a beta of 1.52.

Boise Cascade (NYSE:BCC) last announced its earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.16. The firm had revenue of $1.80 billion for 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%. The company’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.67 EPS. Equities research analysts forecast that Boise Cascade will post 9.71 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.21 per share. The ex-dividend date was Tuesday, September 3rd. 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 0.60%. Boise Cascade’s dividend payout ratio (DPR) is currently 6.83%.

Analyst Ratings Changes

A number of analysts have commented on the stock. The Goldman Sachs Group decreased their price target on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Bank of America boosted their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Truist Financial reissued a “buy” rating and set a $154.00 price objective (down from $159.00) on shares of Boise Cascade in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $128.00.

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.