Boise Cascade, L.L.C. $BCC Shares Sold by Swiss National Bank

Swiss National Bank lessened its holdings in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 72,700 shares of the construction company’s stock after selling 1,700 shares during the quarter. Swiss National Bank owned 0.19% of Boise Cascade worth $6,312,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Caxton Associates LLP bought a new position in Boise Cascade during the first quarter valued at about $1,402,000. Intech Investment Management LLC increased its position in shares of Boise Cascade by 13.4% during the first quarter. Intech Investment Management LLC now owns 41,941 shares of the construction company’s stock valued at $4,114,000 after purchasing an additional 4,963 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Boise Cascade by 12.5% in the second quarter. Public Employees Retirement System of Ohio now owns 39,811 shares of the construction company’s stock valued at $3,456,000 after purchasing an additional 4,414 shares in the last quarter. Strs Ohio acquired a new position in shares of Boise Cascade in the first quarter valued at $1,069,000. Finally, Wedge Capital Management L L P NC lifted its position in Boise Cascade by 12.8% in the second quarter. Wedge Capital Management L L P NC now owns 132,641 shares of the construction company’s stock worth $11,516,000 after purchasing an additional 15,003 shares during the period. Institutional investors own 96.18% of the company’s stock.

Analyst Upgrades and Downgrades

BCC has been the subject of several analyst reports. Wall Street Zen downgraded Boise Cascade from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. BMO Capital Markets upgraded Boise Cascade from a “market perform” rating to an “outperform” rating and set a $100.00 price objective for the company in a research note on Wednesday, November 5th. DA Davidson restated a “buy” rating and issued a $95.00 target price on shares of Boise Cascade in a research note on Thursday, November 20th. Truist Financial lowered their target price on shares of Boise Cascade from $101.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Boise Cascade in a research report on Tuesday, November 25th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.50.

Boise Cascade Stock Performance

Shares of NYSE:BCC opened at $76.24 on Monday. The business has a fifty day moving average of $72.79 and a 200-day moving average of $82.02. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.69 and a current ratio of 3.10. Boise Cascade, L.L.C. has a twelve month low of $65.14 and a twelve month high of $149.99. The firm has a market cap of $2.82 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 6.31 and a beta of 1.27.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Monday, November 3rd. The construction company reported $0.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.58. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.64 billion. Boise Cascade had a net margin of 2.96% and a return on equity of 9.00%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.33 EPS. On average, equities research analysts predict that Boise Cascade, L.L.C. will post 10.15 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Monday, December 1st will be issued a $0.22 dividend. The ex-dividend date is Monday, December 1st. This represents a $0.88 annualized dividend and a yield of 1.2%. Boise Cascade’s dividend payout ratio (DPR) is currently 17.39%.

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.