Boise Cascade (NYSE:BCC) Shares Sold by Invst LLC

Invst LLC lessened its position in shares of Boise Cascade (NYSE:BCC) by 3.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,932 shares of the construction company’s stock after selling 182 shares during the period. Invst LLC’s holdings in Boise Cascade were worth $580,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Creative Planning raised its position in Boise Cascade by 27.6% during the second quarter. Creative Planning now owns 7,294 shares of the construction company’s stock worth $870,000 after acquiring an additional 1,576 shares during the last quarter. Algert Global LLC increased its stake in shares of Boise Cascade by 8.3% during the 2nd quarter. Algert Global LLC now owns 79,277 shares of the construction company’s stock worth $9,451,000 after purchasing an additional 6,059 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Boise Cascade by 6.2% during the 2nd quarter. Mackenzie Financial Corp now owns 5,728 shares of the construction company’s stock worth $683,000 after purchasing an additional 333 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Boise Cascade by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,931 shares of the construction company’s stock valued at $2,734,000 after buying an additional 641 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in Boise Cascade during the 2nd quarter valued at $208,000. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Boise Cascade Stock Performance

Boise Cascade stock opened at $140.98 on Tuesday. The stock has a fifty day moving average price of $132.46 and a 200 day moving average price of $133.98. 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 has a 52 week low of $87.32 and a 52 week high of $154.67. The firm has a market capitalization of $5.57 billion, a P/E ratio of 11.46 and a beta of 1.52.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Monday, August 5th. The construction company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.16. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the firm posted $3.67 EPS. The company’s revenue was down 1.0% on a year-over-year basis. Equities research analysts anticipate that Boise Cascade will post 9.71 earnings per share for the current year.

Boise Cascade Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.21 per share. The ex-dividend date was Tuesday, September 3rd. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.60%. Boise Cascade’s payout ratio is currently 6.83%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BCC. Truist Financial reissued a “buy” rating and issued a $154.00 price target (down from $159.00) on shares of Boise Cascade in a report on Wednesday, August 7th. Bank of America upped their target price 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. The Goldman Sachs Group lowered 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. Finally, StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $128.00.

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.