Boise Cascade (NYSE:BCC) Shares Bought by Burney Co.

Burney Co. lifted its holdings in shares of Boise Cascade (NYSE:BCC) by 24.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,458 shares of the construction company’s stock after buying an additional 1,067 shares during the period. Burney Co.’s holdings in Boise Cascade were worth $651,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. USA Financial Formulas boosted its position in shares of Boise Cascade by 5,050.0% in the fourth quarter. USA Financial Formulas now owns 206 shares of the construction company’s stock worth $27,000 after buying an additional 202 shares during the period. Principal Securities Inc. acquired a new stake in Boise Cascade in the fourth quarter valued at approximately $27,000. Scarborough Advisors LLC acquired a new stake in Boise Cascade in the fourth quarter valued at approximately $36,000. iA Global Asset Management Inc. purchased a new stake in shares of Boise Cascade during the first quarter valued at approximately $82,000. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Boise Cascade by 500.0% in the first quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company’s stock valued at $92,000 after purchasing an additional 500 shares during the period. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Stock Performance

Shares of BCC stock traded down $0.95 on Thursday, hitting $135.29. 253,914 shares of the stock traded hands, compared to its average volume of 306,499. The company has a market capitalization of $5.34 billion, a PE ratio of 11.08 and a beta of 1.50. The company’s fifty day moving average is $127.39 and its 200 day moving average is $133.93. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.24 and a quick ratio of 2.05. Boise Cascade has a 1-year low of $87.32 and a 1-year high of $154.67.

Boise Cascade (NYSE:BCC) last issued its earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.16. Boise Cascade had a net margin of 7.08% and a return on equity of 22.00%. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the company earned $3.67 earnings per share. The firm’s revenue was down 1.0% compared to the same quarter last year. On average, equities research analysts predict that Boise Cascade will post 10.41 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be paid a $0.21 dividend. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Tuesday, September 3rd. Boise Cascade’s payout ratio is presently 6.83%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group cut their price target on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, Truist Financial reissued a “buy” rating and set a $154.00 price objective (down from $159.00) on shares of Boise Cascade in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $124.75.

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.