Bellecapital International Ltd. Lowers Stake in Boise Cascade (NYSE:BCC)

Bellecapital International Ltd. lessened its position in Boise Cascade (NYSE:BCC) by 35.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,565 shares of the construction company’s stock after selling 3,105 shares during the period. Bellecapital International Ltd.’s holdings in Boise Cascade were worth $785,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Larson Financial Group LLC purchased a new position in shares of Boise Cascade during the 2nd quarter worth $36,000. iA Global Asset Management Inc. purchased a new position in Boise Cascade during the first quarter worth about $82,000. Daiwa Securities Group Inc. boosted its stake in Boise Cascade by 500.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company’s stock worth $92,000 after buying an additional 500 shares during the last quarter. GAMMA Investing LLC grew its holdings in Boise Cascade by 33.4% in the 2nd quarter. GAMMA Investing LLC now owns 787 shares of the construction company’s stock valued at $94,000 after buying an additional 197 shares during the period. Finally, CWM LLC increased its stake in shares of Boise Cascade by 26.5% during the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock valued at $95,000 after acquiring an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Bank of America raised their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. StockNews.com raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group dropped their price objective on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Truist Financial boosted their price target on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $129.75.

Boise Cascade Trading Down 1.3 %

Shares of BCC stock traded down $1.88 during mid-day trading on Monday, reaching $139.86. The company’s stock had a trading volume of 38,135 shares, compared to its average volume of 310,207. Boise Cascade has a 12-month low of $87.32 and a 12-month high of $154.67. The company’s 50 day simple moving average is $134.93 and its 200-day simple moving average is $133.42. The company has a quick ratio of 2.08, a current ratio of 3.28 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $5.52 billion, a PE ratio of 11.52 and a beta of 1.52.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, August 5th. The construction company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.16. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.67 earnings per share. On average, research analysts predict that Boise Cascade will post 9.71 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.60%. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, September 3rd. Boise Cascade’s dividend payout ratio is presently 6.83%.

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.