D.A. Davidson & CO. Sells 565 Shares of Boise Cascade (NYSE:BCC)

D.A. Davidson & CO. cut its stake in shares of Boise Cascade (NYSE:BCC) by 15.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,134 shares of the construction company’s stock after selling 565 shares during the quarter. D.A. Davidson & CO.’s holdings in Boise Cascade were worth $442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Boise Cascade by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,813,447 shares of the construction company’s stock worth $335,419,000 after acquiring an additional 22,053 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in 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 last quarter. American Century Companies Inc. boosted its holdings in shares of Boise Cascade by 2.4% in the 2nd quarter. American Century Companies Inc. now owns 897,137 shares of the construction company’s stock worth $106,957,000 after purchasing an additional 21,030 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Boise Cascade by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock valued at $61,680,000 after purchasing an additional 9,128 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Boise Cascade by 46.0% during 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 in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. BMO Capital Markets upped their target price on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. 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 report on Tuesday, October 15th. Loop Capital started coverage on Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 price objective on the stock. Bank of America lifted their price objective on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a report on Thursday, September 12th. Finally, StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $139.60.

Boise Cascade Stock Performance

Boise Cascade stock opened at $146.43 on Wednesday. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The firm has a market cap of $5.62 billion, a P/E ratio of 14.33 and a beta of 1.53. Boise Cascade has a 1-year low of $109.01 and a 1-year high of $155.42. The firm has a 50-day moving average of $140.66 and a 200-day moving average of $133.56.

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

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be issued a $0.21 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 0.57%. 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.