Navellier & Associates Inc. Reduces Position in Boise Cascade (NYSE:BCC)

Navellier & Associates Inc. cut its holdings in shares of Boise Cascade (NYSE:BCC) by 24.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,035 shares of the construction company’s stock after selling 1,589 shares during the period. Navellier & Associates Inc.’s holdings in Boise Cascade were worth $710,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BCC. Westwood Holdings Group Inc. boosted its position in shares of Boise Cascade by 107.7% during the second quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company’s stock valued at $133,278,000 after buying an additional 579,759 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Boise Cascade by 2,978.4% during the 2nd quarter. Marshall Wace LLP now owns 191,047 shares of the construction company’s stock valued at $22,777,000 after purchasing an additional 184,841 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Boise Cascade by 293.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock valued at $36,346,000 after purchasing an additional 176,738 shares during the period. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Boise Cascade by 46.0% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company’s stock valued at $45,661,000 after purchasing an additional 120,600 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Boise Cascade by 56.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 89,163 shares of the construction company’s stock valued at $12,570,000 after purchasing an additional 32,303 shares during the period. 96.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Boise Cascade Trading Up 2.1 %

BCC stock opened at $140.36 on Friday. Boise Cascade has a 1-year low of $106.38 and a 1-year high of $154.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 1.90. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 13.76 and a beta of 1.53. The business has a 50 day simple moving average of $139.00 and a two-hundred day simple moving average of $132.90.

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

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 0.60%. Boise Cascade’s dividend payout ratio (DPR) is 8.22%.

Boise Cascade Company 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.