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

Navellier & Associates Inc. grew its stake in Boise Cascade (NYSE:BCC) by 31.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,597 shares of the construction company’s stock after acquiring an additional 1,562 shares during the period. Navellier & Associates Inc.’s holdings in Boise Cascade were worth $784,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Boise Cascade by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock valued at $61,680,000 after acquiring an additional 9,128 shares during the period. Principal Financial Group Inc. raised its stake in shares of Boise Cascade by 2.6% in the 4th quarter. Principal Financial Group Inc. now owns 208,323 shares of the construction company’s stock valued at $24,761,000 after acquiring an additional 5,281 shares during the period. Bank of Montreal Can raised its stake in shares of Boise Cascade by 1,597.4% in the 3rd quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock valued at $17,907,000 after acquiring an additional 119,103 shares during the period. FMR LLC raised its stake in shares of Boise Cascade by 158.9% in the 3rd quarter. FMR LLC now owns 126,123 shares of the construction company’s stock valued at $17,781,000 after acquiring an additional 77,401 shares during the period. Finally, Nordea Investment Management AB raised its stake in shares of Boise Cascade by 5.0% in the 4th quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock valued at $14,454,000 after acquiring an additional 5,779 shares during the period. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Trading Down 8.2 %

NYSE BCC opened at $106.98 on Friday. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. Boise Cascade has a 52 week low of $103.57 and a 52 week high of $155.42. The stock has a market capitalization of $4.11 billion, a PE ratio of 11.19 and a beta of 1.57. The firm has a 50 day moving average of $123.15 and a two-hundred day moving average of $132.29.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.01). Boise Cascade had a return on equity of 16.89% and a net margin of 5.60%. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.57 billion. As a group, research analysts expect that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Monday, February 24th. Boise Cascade’s dividend payout ratio (DPR) is presently 8.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BCC shares. The Goldman Sachs Group reduced their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Loop Capital started coverage on shares of Boise Cascade in a report on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective for the company. Finally, Truist Financial dropped their price objective on shares of Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Boise Cascade presently has an average rating of “Hold” and a consensus 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.