Victory Capital Management Inc. Decreases Stock Position in Boise Cascade (NYSE:BCC)

Victory Capital Management Inc. trimmed its holdings in shares of Boise Cascade (NYSE:BCC) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,812 shares of the construction company’s stock after selling 121 shares during the quarter. Victory Capital Management Inc.’s holdings in Boise Cascade were worth $11,252,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in BCC. O Shaughnessy Asset Management LLC raised its position in shares of Boise Cascade by 13.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 18,529 shares of the construction company’s stock valued at $2,842,000 after buying an additional 2,197 shares in the last quarter. UniSuper Management Pty Ltd bought a new position in Boise Cascade during the 1st quarter valued at about $1,055,000. Pitcairn Co. bought a new position in Boise Cascade during the 1st quarter valued at about $247,000. MQS Management LLC bought a new position in Boise Cascade during the 1st quarter valued at about $205,000. Finally, BOKF NA grew its holdings in Boise Cascade by 80.2% during the 1st quarter. BOKF NA now owns 2,900 shares of the construction company’s stock valued at $444,000 after purchasing an additional 1,291 shares during the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Boise Cascade Price Performance

NYSE BCC opened at $137.41 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. The firm’s 50 day moving average price is $139.00 and its 200-day moving average price is $132.90. Boise Cascade has a 52-week low of $106.38 and a 52-week high of $154.67. The company has a market cap of $5.28 billion, a PE ratio of 13.45 and a beta of 1.53.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the business posted $3.58 earnings per share. Boise Cascade’s revenue for the quarter was down 6.6% on a year-over-year basis. Sell-side analysts forecast that Boise Cascade will post 9.57 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.61%. Boise Cascade’s dividend payout ratio is presently 8.22%.

Wall Street Analyst Weigh In

BCC has been the topic of several analyst reports. Bank of America upped their price target on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. BMO Capital Markets upped their price target on shares of Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Truist Financial upped their price target on shares of Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Loop Capital initiated coverage on shares of Boise Cascade in a report on Friday, November 1st. They set a “buy” rating and a $155.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Boise Cascade currently has an average rating of “Hold” and a consensus target price of $139.60.

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.