Boise Cascade (NYSE:BCC) Stake Cut by Leuthold Group LLC

Leuthold Group LLC lessened its holdings in Boise Cascade (NYSE:BCC) by 0.9% in the second quarter, HoldingsChannel.com reports. The firm owned 24,874 shares of the construction company’s stock after selling 234 shares during the period. Leuthold Group LLC’s holdings in Boise Cascade were worth $2,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in BCC. Vanguard Group Inc. boosted its holdings in shares of Boise Cascade by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 4,709,276 shares of the construction company’s stock valued at $609,192,000 after buying an additional 35,963 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Boise Cascade by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,813,447 shares of the construction company’s stock worth $335,419,000 after purchasing an additional 22,053 shares during the last quarter. American Century Companies Inc. lifted 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 during the last quarter. Norges Bank acquired a new position in Boise Cascade during the 4th quarter valued at approximately $60,383,000. Finally, First Trust Advisors LP grew its stake in Boise Cascade by 22.1% during the 4th quarter. First Trust Advisors LP now owns 304,436 shares of the construction company’s stock worth $39,382,000 after buying an additional 55,077 shares during the last quarter. Institutional investors own 96.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BCC. The Goldman Sachs Group reduced their price target on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Truist Financial reaffirmed a “buy” rating and set a $154.00 price target (down previously from $159.00) on shares of Boise Cascade in a report on Wednesday, August 7th. Finally, Bank of America increased 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. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $128.00.

Boise Cascade Stock Up 1.5 %

Boise Cascade stock opened at $137.25 on Thursday. Boise Cascade has a 52 week low of $87.32 and a 52 week high of $154.67. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of 11.16 and a beta of 1.52. The company’s 50-day moving average price is $130.77 and its two-hundred day moving average price is $133.32. The company has a current ratio of 3.28, a quick ratio of 2.08 and a debt-to-equity ratio of 0.21.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.16. The business had revenue of $1.80 billion for 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 revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the business earned $3.67 earnings per share. On average, analysts expect that Boise Cascade will post 9.76 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The company 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 is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, September 3rd. This represents a $0.84 annualized dividend and a dividend yield of 0.61%. Boise Cascade’s dividend payout ratio is 6.83%.

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.