SeaCrest Wealth Management LLC Buys Shares of 1,722 Boise Cascade (NYSE:BCC)

SeaCrest Wealth Management LLC purchased a new position in Boise Cascade (NYSE:BCC) during the third quarter, HoldingsChannel.com reports. The fund purchased 1,722 shares of the construction company’s stock, valued at approximately $243,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Boise Cascade by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 4,709,276 shares of the construction company’s stock worth $609,192,000 after buying an additional 35,963 shares during the last quarter. Bridge City Capital LLC grew its position in shares of Boise Cascade by 0.8% during the first quarter. Bridge City Capital LLC now owns 18,270 shares of the construction company’s stock worth $2,802,000 after acquiring an additional 143 shares during the last quarter. Range Financial Group LLC increased its holdings in shares of Boise Cascade by 9.7% in the 1st quarter. Range Financial Group LLC now owns 2,826 shares of the construction company’s stock worth $433,000 after acquiring an additional 251 shares during the period. Unison Advisors LLC lifted its position in Boise Cascade by 3.9% in the 1st quarter. Unison Advisors LLC now owns 7,162 shares of the construction company’s stock valued at $1,098,000 after purchasing an additional 270 shares during the last quarter. Finally, DGS Capital Management LLC acquired a new position in Boise Cascade during the 1st quarter valued at about $227,000. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Stock Down 0.4 %

Shares of BCC stock opened at $141.61 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28. The stock has a market cap of $5.59 billion, a PE ratio of 11.51 and a beta of 1.52. The business’s fifty day moving average is $134.64 and its 200-day moving average is $133.73. Boise Cascade has a 1 year low of $87.32 and a 1 year high of $154.67.

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

Boise Cascade Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a $0.21 dividend. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Tuesday, September 3rd. Boise Cascade’s payout ratio is presently 6.83%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BCC shares. Truist Financial boosted their price objective on Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research report on Tuesday. The Goldman Sachs Group reduced their price target on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. 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. Finally, StockNews.com raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $129.75.

Boise Cascade 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.