Boise Cascade (NYSE:BCC) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers lifted its holdings in Boise Cascade (NYSE:BCC) by 6.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,180 shares of the construction company’s stock after purchasing an additional 7,025 shares during the quarter. Rhumbline Advisers’ holdings in Boise Cascade were worth $14,285,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new stake in shares of Boise Cascade in the 3rd quarter worth $28,000. R Squared Ltd acquired a new stake in shares of Boise Cascade in the 4th quarter worth $29,000. Larson Financial Group LLC lifted its position in Boise Cascade by 23.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after acquiring an additional 73 shares during the period. CWM LLC lifted its position in Boise Cascade by 26.5% during the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock worth $95,000 after acquiring an additional 141 shares during the period. Finally, Covestor Ltd lifted its position in Boise Cascade by 50.1% during the 3rd quarter. Covestor Ltd now owns 689 shares of the construction company’s stock worth $97,000 after acquiring an additional 230 shares during the period. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Stock Performance

Shares of BCC stock opened at $106.98 on Friday. The stock has a market cap of $4.11 billion, a PE ratio of 11.19 and a beta of 1.57. The business has a 50-day simple moving average of $123.15 and a 200-day simple moving average of $132.29. 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.

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

Boise Cascade Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have commented on BCC shares. Loop Capital started coverage on Boise Cascade in a research report on Friday, November 1st. They set a “buy” rating and a $155.00 price target for the company. Truist Financial lowered their price target on Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a research report on Monday, January 6th. The Goldman Sachs Group lowered their price target on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Finally, StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $139.60.

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.