Royce & Associates LP boosted its position in shares of Boise Cascade (NYSE:BCC – Free Report) by 78.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,165 shares of the construction company’s stock after buying an additional 7,992 shares during the period. Royce & Associates LP’s holdings in Boise Cascade were worth $1,149,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Van ECK Associates Corp raised its position in Boise Cascade by 158.4% during the 1st quarter. Van ECK Associates Corp now owns 6,926 shares of the construction company’s stock worth $438,000 after buying an additional 4,246 shares during the last quarter. Pacer Advisors Inc. increased its position in Boise Cascade by 56.2% during the 1st quarter. Pacer Advisors Inc. now owns 616,555 shares of the construction company’s stock worth $38,997,000 after purchasing an additional 221,931 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in shares of Boise Cascade by 33.4% during the first quarter. Texas Permanent School Fund Corp now owns 35,377 shares of the construction company’s stock valued at $2,238,000 after buying an additional 8,857 shares during the period. SG Americas Securities LLC grew its position in shares of Boise Cascade by 89.1% in the first quarter. SG Americas Securities LLC now owns 10,536 shares of the construction company’s stock valued at $666,000 after purchasing an additional 4,963 shares during the period. Finally, Stratos Wealth Advisors LLC acquired a new stake in shares of Boise Cascade in the first quarter worth approximately $997,000. 90.20% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
BCC has been the subject of a number of research reports. StockNews.com initiated coverage on Boise Cascade in a report on Thursday, May 18th. They set a “buy” rating for the company. The Goldman Sachs Group increased their target price on shares of Boise Cascade from $96.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday. BMO Capital Markets raised their target price on Boise Cascade from $90.00 to $115.00 and gave the company a “market perform” rating in a research note on Wednesday. Truist Financial raised their price target on Boise Cascade from $100.00 to $129.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Bank of America raised shares of Boise Cascade from an “underperform” rating to a “neutral” rating in a report on Monday, July 10th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Boise Cascade presently has a consensus rating of “Hold” and a consensus target price of $103.00.
Boise Cascade Stock Down 0.4 %
Boise Cascade (NYSE:BCC – Get Free Report) last posted its earnings results on Tuesday, August 1st. The construction company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $1.13. Boise Cascade had a net margin of 8.12% and a return on equity of 27.77%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the firm posted $5.49 earnings per share. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. As a group, equities research analysts anticipate that Boise Cascade will post 11.75 EPS for the current year.
Boise Cascade Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, August 31st. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a yield of 0.73%. Boise Cascade’s dividend payout ratio is 4.12%.
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 lumber products.
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