Waycross Investment Management Co Sells 1,676 Shares of Boise Cascade (NYSE:BCC)

Waycross Investment Management Co reduced its position in Boise Cascade (NYSE:BCC) by 12.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,418 shares of the construction company’s stock after selling 1,676 shares during the quarter. Boise Cascade makes up 1.5% of Waycross Investment Management Co’s portfolio, making the stock its 19th largest holding. Waycross Investment Management Co’s holdings in Boise Cascade were worth $1,610,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Westwood Holdings Group Inc. grew its stake in shares of Boise Cascade by 107.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company’s stock valued at $133,278,000 after purchasing an additional 579,759 shares during the period. Marshall Wace LLP grew its position in Boise Cascade by 2,978.4% in the second quarter. Marshall Wace LLP now owns 191,047 shares of the construction company’s stock valued at $22,777,000 after acquiring an additional 184,841 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Boise Cascade by 293.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock worth $36,346,000 after acquiring an additional 176,738 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Boise Cascade by 46.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company’s stock valued at $45,661,000 after acquiring an additional 120,600 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of Boise Cascade by 22.1% in the 4th quarter. First Trust Advisors LP now owns 304,436 shares of the construction company’s stock valued at $39,382,000 after purchasing an additional 55,077 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group dropped their target price on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Truist Financial reissued a “buy” rating and issued a $154.00 target price (down from $159.00) on shares of Boise Cascade in a report on Wednesday, August 7th. Finally, Bank of America raised their price target on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $128.00.

Boise Cascade Price Performance

Shares of NYSE BCC traded up $0.61 during trading on Friday, reaching $138.90. The company had a trading volume of 160,928 shares, compared to its average volume of 317,187. Boise Cascade has a 52 week low of $87.32 and a 52 week high of $154.67. The business’s 50 day moving average price is $132.82 and its 200-day moving average price is $134.16. The stock has a market cap of $5.48 billion, a PE ratio of 11.29 and a beta of 1.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28.

Boise Cascade (NYSE:BCC) last posted 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. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. Boise Cascade’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.67 EPS. Analysts expect that Boise Cascade will post 9.71 earnings per share for the current year.

Boise Cascade Increases Dividend

The company also recently declared 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. This represents a $0.84 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Tuesday, September 3rd. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. Boise Cascade’s dividend payout ratio is 6.83%.

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.