First Trust Direct Indexing L.P. Boosts Stock Position in Boise Cascade (NYSE:BCC)

First Trust Direct Indexing L.P. lifted its stake in shares of Boise Cascade (NYSE:BCC) by 7.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,893 shares of the construction company’s stock after purchasing an additional 128 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Boise Cascade were worth $267,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC grew its holdings in Boise Cascade by 4.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,757 shares of the construction company’s stock valued at $248,000 after buying an additional 78 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in Boise Cascade by 1.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 7,776 shares of the construction company’s stock worth $927,000 after acquiring an additional 113 shares during the period. Miller Howard Investments Inc. NY lifted its stake in Boise Cascade by 2.1% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 5,892 shares of the construction company’s stock worth $702,000 after purchasing an additional 124 shares in the last quarter. Bank of Montreal Can lifted its stake in Boise Cascade by 1.9% in the 2nd quarter. Bank of Montreal Can now owns 7,456 shares of the construction company’s stock worth $890,000 after purchasing an additional 137 shares in the last quarter. Finally, MorganRosel Wealth Management LLC boosted its holdings in Boise Cascade by 1.8% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 7,756 shares of the construction company’s stock valued at $925,000 after purchasing an additional 138 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on BCC shares. Loop Capital began coverage on shares of Boise Cascade in a report on Friday. They issued a “buy” rating and a $155.00 price target on the stock. BMO Capital Markets upped their target price on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group dropped 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. StockNews.com upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Finally, Bank of America lifted their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $139.60.

Boise Cascade Price Performance

Shares of Boise Cascade stock opened at $134.26 on Tuesday. The firm has a market capitalization of $5.30 billion, a PE ratio of 11.71 and a beta of 1.53. 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 12 month low of $101.82 and a 12 month high of $154.67. The business’s 50-day moving average price is $136.09 and its 200-day moving average price is $132.47.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Monday, August 5th. The construction company reported $2.84 EPS 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 firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the firm posted $3.67 earnings per share. The business’s revenue was down 1.0% compared to the same quarter last year. Sell-side analysts forecast that Boise Cascade will post 9.69 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.21 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 0.63%. Boise Cascade’s payout ratio is 7.32%.

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.