Truist Financial Corp Sells 6,239 Shares of Boise Cascade (NYSE:BCC)

Truist Financial Corp reduced its holdings in shares of Boise Cascade (NYSE:BCCGet Rating) by 45.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 7,519 shares of the construction company’s stock after selling 6,239 shares during the period. Truist Financial Corp’s holdings in Boise Cascade were worth $447,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BCC. Wipfli Financial Advisors LLC purchased a new position in Boise Cascade during the 3rd quarter worth $54,000. Ronald Blue Trust Inc. increased its holdings in Boise Cascade by 119.8% during the 3rd quarter. Ronald Blue Trust Inc. now owns 455 shares of the construction company’s stock worth $27,000 after purchasing an additional 248 shares during the period. Islay Capital Management LLC increased its holdings in Boise Cascade by 92.6% during the 3rd quarter. Islay Capital Management LLC now owns 5,246 shares of the construction company’s stock worth $312,000 after purchasing an additional 2,522 shares during the period. Louisiana State Employees Retirement System purchased a new position in Boise Cascade during the 3rd quarter worth $1,118,000. Finally, Ritholtz Wealth Management purchased a new position in Boise Cascade during the 3rd quarter worth $213,000. 92.78% of the stock is owned by institutional investors.

Boise Cascade Stock Up 1.9 %

Shares of BCC stock opened at $70.48 on Tuesday. Boise Cascade has a 1-year low of $55.14 and a 1-year high of $85.17. The stock’s fifty day moving average price is $71.03 and its 200 day moving average price is $66.85. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.95 and a quick ratio of 1.91. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 3.08 and a beta of 1.55.

Boise Cascade (NYSE:BCCGet Rating) last announced its earnings results on Monday, October 31st. The construction company reported $5.52 earnings per share for the quarter, topping the consensus estimate of $4.45 by $1.07. Boise Cascade had a return on equity of 53.89% and a net margin of 10.65%. The firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the business earned $2.31 EPS. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, research analysts expect that Boise Cascade will post 21.58 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The firm also recently announced a None dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were paid a dividend of $1.15 per share. This represents a yield of 0.9%. This is an increase from Boise Cascade’s previous None dividend of $0.12. The ex-dividend date was Wednesday, November 30th. Boise Cascade’s payout ratio is 2.62%.

Wall Street Analysts Forecast Growth

BCC has been the topic of several research reports. StockNews.com downgraded Boise Cascade from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 10th. The Goldman Sachs Group lifted their price target on Boise Cascade from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, November 3rd. Finally, Bank of America downgraded Boise Cascade from a “neutral” rating to an “underperform” rating in a report on Thursday, October 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $73.25.

Boise Cascade Company Profile

(Get Rating)

Boise Cascade Company manufactures wood products and distributes 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 lumber products.

See Also

Institutional Ownership by Quarter for Boise Cascade (NYSE:BCC)

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