Blue Trust Inc. Increases Stake in Boise Cascade (NYSE:BCC)

Blue Trust Inc. grew its holdings in Boise Cascade (NYSE:BCC) by 43.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,378 shares of the construction company’s stock after acquiring an additional 415 shares during the period. Blue Trust Inc.’s holdings in Boise Cascade were worth $194,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BCC. AlphaMark Advisors LLC increased its stake in shares of Boise Cascade by 8.1% in the 3rd quarter. AlphaMark Advisors LLC now owns 2,513 shares of the construction company’s stock worth $354,000 after purchasing an additional 188 shares in the last quarter. ZWJ Investment Counsel Inc. bought a new stake in Boise Cascade during the third quarter valued at about $210,000. SeaCrest Wealth Management LLC purchased a new stake in Boise Cascade in the third quarter worth about $243,000. Creative Planning raised its stake in shares of Boise Cascade by 17.9% in the third quarter. Creative Planning now owns 8,596 shares of the construction company’s stock worth $1,212,000 after buying an additional 1,302 shares during the period. Finally, Wedge Capital Management L L P NC lifted its position in shares of Boise Cascade by 1.1% during the 3rd quarter. Wedge Capital Management L L P NC now owns 108,965 shares of the construction company’s stock valued at $15,362,000 after buying an additional 1,155 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Performance

Shares of NYSE BCC opened at $135.38 on Friday. The company has a market cap of $5.34 billion, a P/E ratio of 11.01 and a beta of 1.52. Boise Cascade has a 52-week low of $87.32 and a 52-week high of $154.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28. The firm’s fifty day moving average is $135.76 and its two-hundred day moving average is $133.12.

Boise Cascade (NYSE:BCC) last issued its earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.16. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the firm posted $3.67 earnings per share. The business’s revenue was down 1.0% compared to the same quarter last year. As a group, analysts anticipate that Boise Cascade will post 9.71 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.62%. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, September 3rd. Boise Cascade’s dividend payout ratio is 6.83%.

Wall Street Analysts Forecast Growth

BCC has been the subject of several analyst reports. BMO Capital Markets increased their target price on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a report on Tuesday. StockNews.com raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group dropped their target price on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Truist Financial raised their price target on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Bank of America increased their target price on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $135.75.

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.