Boise Cascade (NYSE:BCC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in Boise Cascade (NYSE:BCC) by 4.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 203,042 shares of the construction company’s stock after selling 8,600 shares during the quarter. Principal Financial Group Inc.’s holdings in Boise Cascade were worth $28,625,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new position in shares of Boise Cascade in the 3rd quarter valued at about $28,000. Larson Financial Group LLC acquired a new stake in Boise Cascade during the second quarter valued at $36,000. CWM LLC grew its position in Boise Cascade by 26.5% during the third quarter. CWM LLC now owns 673 shares of the construction company’s stock valued at $95,000 after buying an additional 141 shares during the period. Covestor Ltd increased its holdings in Boise Cascade by 50.1% in the third quarter. Covestor Ltd now owns 689 shares of the construction company’s stock valued at $97,000 after buying an additional 230 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Boise Cascade in the second quarter worth about $148,000. 96.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BCC. 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 target for the company. Bank of America boosted their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. Truist Financial raised their price target on shares of Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, BMO Capital Markets raised their target price on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $139.60.

Boise Cascade Stock Up 0.8 %

BCC stock opened at $123.19 on Wednesday. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 12.05 and a beta of 1.53. The firm has a 50-day moving average of $139.04 and a two-hundred day moving average of $133.54. Boise Cascade has a 12 month low of $113.89 and a 12 month high of $155.42. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.58 EPS. As a group, analysts forecast that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Monday, December 2nd. Boise Cascade’s dividend payout ratio (DPR) is presently 8.22%.

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.