National Bank of Canada FI Reduces Stock Position in Boise Cascade (NYSE:BCC)

National Bank of Canada FI decreased its position in Boise Cascade (NYSE:BCC) by 25.9% during the third quarter, Holdings Channel.com reports. The fund owned 315 shares of the construction company’s stock after selling 110 shares during the quarter. National Bank of Canada FI’s holdings in Boise Cascade were worth $44,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new position in Boise Cascade during the 3rd quarter valued at about $28,000. Larson Financial Group LLC purchased a new position in shares of Boise Cascade during the second quarter valued at approximately $36,000. CWM LLC increased its stake in shares of Boise Cascade by 26.5% during the third quarter. CWM LLC now owns 673 shares of the construction company’s stock valued at $95,000 after buying an additional 141 shares during the period. Covestor Ltd raised its holdings in shares of Boise Cascade by 50.1% during the third quarter. Covestor Ltd now owns 689 shares of the construction company’s stock valued at $97,000 after acquiring an additional 230 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Boise Cascade by 423.4% in the second quarter. Blue Trust Inc. now owns 963 shares of the construction company’s stock worth $115,000 after acquiring an additional 779 shares during the period. 96.18% of the stock is owned by institutional investors.

Boise Cascade Price Performance

Shares of NYSE BCC opened at $133.04 on Wednesday. Boise Cascade has a twelve month low of $113.89 and a twelve month high of $155.42. The company has a 50 day moving average of $141.04 and a 200 day moving average of $133.87. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. The firm has a market cap of $5.11 billion, a P/E ratio of 13.02 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 for the quarter, missing the consensus estimate of $2.37 by ($0.04). The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.58 earnings per share. As a group, research analysts expect that Boise Cascade will post 9.57 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.63%. The ex-dividend date is Monday, December 2nd. Boise Cascade’s dividend payout ratio is 8.22%.

Wall Street Analysts Forecast Growth

BCC has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. BMO Capital Markets increased their price target 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. Bank of America lifted their price objective on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research report on Thursday, September 12th. Loop Capital began 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. Finally, Truist Financial lifted their price target on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. One investment 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, the stock has a consensus rating of “Hold” and an average 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.