Boise Cascade (NYSE:BCC) Shares Sold by Algert Global LLC

Algert Global LLC lessened its position in shares of Boise Cascade (NYSE:BCC) by 41.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,428 shares of the construction company’s stock after selling 32,849 shares during the quarter. Algert Global LLC’s holdings in Boise Cascade were worth $6,545,000 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 stake in Boise Cascade during the third quarter valued at $28,000. Larson Financial Group LLC acquired a new stake in shares of Boise Cascade in the second quarter valued at about $36,000. iA Global Asset Management Inc. acquired a new stake in shares of Boise Cascade in the first quarter valued at about $82,000. GAMMA Investing LLC grew its position in shares of Boise Cascade by 33.4% in the second quarter. GAMMA Investing LLC now owns 787 shares of the construction company’s stock valued at $94,000 after purchasing an additional 197 shares during the period. Finally, CWM LLC grew its position in shares of Boise Cascade by 26.5% in the third quarter. CWM LLC now owns 673 shares of the construction company’s stock valued at $95,000 after purchasing an additional 141 shares during the period. Institutional investors and hedge funds own 96.18% of the company’s stock.

Analyst Ratings Changes

BCC has been the topic of several research analyst reports. Loop Capital initiated coverage on shares of Boise Cascade in a research report on Friday, November 1st. They issued a “buy” rating and a $155.00 target price on the stock. StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Truist Financial boosted their price target on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. BMO Capital Markets boosted their price target on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Finally, Bank of America boosted their price target 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Boise Cascade presently has a consensus rating of “Hold” and a consensus target price of $139.60.

Boise Cascade Price Performance

Shares of BCC stock opened at $143.78 on Friday. 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 firm’s 50-day moving average is $139.41 and its two-hundred day moving average is $132.98. Boise Cascade has a 12 month low of $106.38 and a 12 month high of $154.67. The company has a market capitalization of $5.52 billion, a PE ratio of 14.07 and a beta of 1.53.

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

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Monday, December 2nd. Boise Cascade’s dividend payout ratio (DPR) is presently 8.22%.

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.