Highland Capital Management LLC Purchases Shares of 1,523 Boise Cascade (NYSE:BCC)

Highland Capital Management LLC purchased a new stake in Boise Cascade (NYSE:BCC) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,523 shares of the construction company’s stock, valued at approximately $215,000.

Several other large investors also recently modified their holdings of the company. Larson Financial Group LLC bought a new position in Boise Cascade during the second quarter worth $36,000. iA Global Asset Management Inc. purchased a new stake in Boise Cascade during the first quarter worth about $82,000. Daiwa Securities Group Inc. increased its holdings in Boise Cascade by 500.0% during the first quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company’s stock worth $92,000 after buying an additional 500 shares during the last quarter. GAMMA Investing LLC increased its holdings in Boise Cascade by 33.4% during the second quarter. GAMMA Investing LLC now owns 787 shares of the construction company’s stock worth $94,000 after buying an additional 197 shares during the last quarter. Finally, CWM LLC increased its holdings in Boise Cascade by 26.5% during the third quarter. CWM LLC now owns 673 shares of the construction company’s stock worth $95,000 after buying an additional 141 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Trading Down 1.2 %

Shares of BCC opened at $135.38 on Monday. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of 11.01 and a beta of 1.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28. Boise Cascade has a fifty-two week low of $87.32 and a fifty-two week high of $154.67. The firm has a 50 day moving average price of $135.76 and a 200-day moving average price of $132.87.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.77 billion. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.67 EPS. As a group, equities research analysts forecast that Boise Cascade will post 9.71 earnings per share for the current year.

Boise Cascade Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.62%. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, September 3rd. Boise Cascade’s payout ratio is presently 6.83%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BCC shares. Truist Financial lifted their target price on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. BMO Capital Markets lifted their target price on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group reduced 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 note on Wednesday, July 10th. StockNews.com raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Finally, Bank of America boosted their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $135.75.

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.