Strs Ohio Reduces Stock Holdings in Boise Cascade, L.L.C. $BCC

Strs Ohio lowered its position in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 53.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,400 shares of the construction company’s stock after selling 6,300 shares during the period. Strs Ohio’s holdings in Boise Cascade were worth $418,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Salomon & Ludwin LLC purchased a new stake in Boise Cascade during the 3rd quarter worth $28,000. Huntington National Bank grew its stake in shares of Boise Cascade by 630.0% during the second quarter. Huntington National Bank now owns 438 shares of the construction company’s stock valued at $38,000 after acquiring an additional 378 shares in the last quarter. RMG Wealth Management LLC purchased a new stake in shares of Boise Cascade during the second quarter worth about $42,000. CWM LLC lifted its stake in shares of Boise Cascade by 30.6% in the third quarter. CWM LLC now owns 747 shares of the construction company’s stock worth $58,000 after acquiring an additional 175 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Boise Cascade by 160.5% in the third quarter. Versant Capital Management Inc now owns 883 shares of the construction company’s stock valued at $68,000 after purchasing an additional 544 shares during the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BCC has been the topic of several analyst reports. The Goldman Sachs Group dropped their price objective on Boise Cascade from $96.00 to $82.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Wall Street Zen lowered shares of Boise Cascade from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Weiss Ratings upgraded shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Truist Financial boosted their target price on shares of Boise Cascade from $88.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Finally, 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. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $101.83.

Boise Cascade Stock Performance

Boise Cascade stock opened at $80.82 on Friday. The company has a market cap of $2.99 billion, a PE ratio of 15.97 and a beta of 1.27. Boise Cascade, L.L.C. has a 12 month low of $65.14 and a 12 month high of $127.86. The company has a fifty day moving average price of $77.69 and a two-hundred day moving average price of $78.75. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.10 and a quick ratio of 1.69.

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

Boise Cascade Profile

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.