Swiss National Bank Sells 700 Shares of Boise Cascade (NYSE:BCC)

Swiss National Bank cut its holdings in shares of Boise Cascade (NYSE:BCC) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,100 shares of the construction company’s stock after selling 700 shares during the period. Swiss National Bank owned approximately 0.20% of Boise Cascade worth $10,870,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BCC. Westwood Holdings Group Inc. raised its position in shares of Boise Cascade by 107.7% during the second quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company’s stock worth $133,278,000 after purchasing an additional 579,759 shares during the period. Marshall Wace LLP boosted its position in shares of Boise Cascade by 2,978.4% during the second quarter. Marshall Wace LLP now owns 191,047 shares of the construction company’s stock worth $22,777,000 after buying an additional 184,841 shares during the period. Price T Rowe Associates Inc. MD raised its position in Boise Cascade by 293.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock valued at $36,346,000 after buying an additional 176,738 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in Boise Cascade by 46.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company’s stock valued at $45,661,000 after buying an additional 120,600 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Boise Cascade by 56.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 89,163 shares of the construction company’s stock valued at $12,570,000 after acquiring an additional 32,303 shares in the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BCC. Truist Financial raised their target price on shares of Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Loop Capital assumed coverage on Boise Cascade in a report on Friday, November 1st. They set a “buy” rating and a $155.00 target price on the stock. BMO Capital Markets raised their price target on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Bank of America raised their target price 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 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $139.60.

Boise Cascade Stock Performance

BCC opened at $143.78 on Monday. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. Boise Cascade has a 12-month low of $106.38 and a 12-month high of $154.67. The business has a 50 day moving average of $139.41 and a 200-day moving average of $133.00. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of 14.07 and a beta of 1.53.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.04). The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.58 earnings per share. On average, equities research analysts expect that Boise Cascade will post 9.57 earnings per share for the current year.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade’s dividend payout ratio (DPR) is presently 8.22%.

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.