Boise Cascade (NYSE:BCC) Stock Position Increased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its position in shares of Boise Cascade (NYSE:BCC) by 8.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,939 shares of the construction company’s stock after buying an additional 2,527 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.08% of Boise Cascade worth $3,808,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of BCC. Principal Securities Inc. acquired a new position in shares of Boise Cascade in the 4th quarter worth approximately $27,000. Scarborough Advisors LLC bought a new position in shares of Boise Cascade in the fourth quarter valued at $36,000. Larson Financial Group LLC acquired a new stake in shares of Boise Cascade during the 2nd quarter valued at $36,000. iA Global Asset Management Inc. bought a new stake in shares of Boise Cascade during the 1st quarter worth $82,000. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Boise Cascade by 500.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company’s stock worth $92,000 after acquiring an additional 500 shares during the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BCC has been the subject of a number of recent analyst reports. The Goldman Sachs Group decreased their price target on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Bank of America boosted their price target on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. Truist Financial reaffirmed a “buy” rating and issued a $154.00 price objective (down previously from $159.00) on shares of Boise Cascade in a research note on Wednesday, August 7th. Finally, StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $128.00.

Boise Cascade Stock Down 5.0 %

BCC stock opened at $137.50 on Friday. The company has a 50 day moving average of $131.44 and a two-hundred day moving average of $133.44. The company has a quick ratio of 2.08, a current ratio of 3.28 and a debt-to-equity ratio of 0.21. Boise Cascade has a 12-month low of $87.32 and a 12-month high of $154.67. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 11.18 and a beta of 1.52.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Monday, August 5th. The construction company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the firm earned $3.67 earnings per share. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, equities analysts anticipate that Boise Cascade will post 9.76 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a $0.21 dividend. The ex-dividend date was Tuesday, September 3rd. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.61%. Boise Cascade’s payout ratio is 6.83%.

Boise Cascade 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.