Algert Global LLC Sells 32,849 Shares of Boise Cascade (NYSE:BCC)

Algert Global LLC reduced its stake in Boise Cascade (NYSE:BCC) by 41.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,428 shares of the construction company’s stock after selling 32,849 shares during the period. Algert Global LLC owned 0.12% of Boise Cascade worth $6,545,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BCC. Westwood Holdings Group Inc. grew its stake in Boise Cascade by 107.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company’s stock worth $133,278,000 after acquiring an additional 579,759 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Boise Cascade by 2,978.4% during the second quarter. Marshall Wace LLP now owns 191,047 shares of the construction company’s stock valued at $22,777,000 after purchasing an additional 184,841 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Boise Cascade by 293.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock valued at $36,346,000 after purchasing an additional 176,738 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Boise Cascade by 46.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company’s stock valued at $45,661,000 after purchasing an additional 120,600 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Boise Cascade by 56.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 89,163 shares of the construction company’s stock valued at $12,570,000 after purchasing an additional 32,303 shares in the last quarter. 96.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BCC has been the topic of a number of recent research reports. Truist Financial increased their price objective on shares of Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Bank of America increased their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. BMO Capital Markets increased their price objective on shares of Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Finally, Loop Capital began coverage on shares of Boise Cascade in a research report on Friday, November 1st. They set a “buy” rating and a $155.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Boise Cascade has an average rating of “Hold” and a consensus price target of $139.60.

Boise Cascade Trading Up 2.4 %

NYSE:BCC opened at $143.78 on Friday. The firm has a 50 day moving average of $139.41 and a 200 day moving average of $132.98. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of 14.07 and a beta of 1.53. Boise Cascade has a 52 week low of $106.38 and a 52 week high of $154.67. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The company’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.58 EPS. As a group, sell-side analysts anticipate that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.58%. Boise Cascade’s dividend payout ratio is currently 8.22%.

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.