Larson Financial Group LLC Grows Position in Boise Cascade (NYSE:BCC)

Larson Financial Group LLC grew its position in shares of Boise Cascade (NYSE:BCC) by 23.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 378 shares of the construction company’s stock after purchasing an additional 73 shares during the quarter. Larson Financial Group LLC’s holdings in Boise Cascade were worth $53,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Algert Global LLC raised 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 buying an additional 6,059 shares during the period. Burney Co. purchased a new position in Boise Cascade during the first quarter valued at $673,000. Seven Eight Capital LP grew its position in shares of Boise Cascade by 31.6% in the second quarter. Seven Eight Capital LP now owns 17,896 shares of the construction company’s stock valued at $2,134,000 after purchasing an additional 4,300 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Boise Cascade by 56.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 89,163 shares of the construction company’s stock worth $12,570,000 after purchasing an additional 32,303 shares in the last quarter. Finally, 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. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Stock Performance

Shares of Boise Cascade stock opened at $147.66 on Friday. The business’s 50 day moving average price is $140.24 and its 200 day moving average price is $133.40. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 14.45 and a beta of 1.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. Boise Cascade has a one year low of $106.38 and a one year high of $155.42.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.04). Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the firm earned $3.58 EPS. The firm’s revenue was down 6.6% on a year-over-year basis. On average, research analysts predict that Boise Cascade will post 9.57 EPS for the current year.

Boise Cascade Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be given a $0.21 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 0.57%. Boise Cascade’s payout ratio is 8.22%.

Analyst Ratings Changes

BCC has been the topic of several research analyst reports. BMO Capital Markets lifted their price objective on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Bank of America lifted their price target on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. Loop Capital assumed coverage on Boise Cascade in a research note on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective for the company. Truist Financial raised their price objective on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Boise Cascade has an average rating of “Hold” and an average target price of $139.60.

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.