Ensign Peak Advisors Inc Trims Stake in Boise Cascade (NYSE:BCC)

Ensign Peak Advisors Inc cut its stake in Boise Cascade (NYSE:BCC) by 17.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,647 shares of the construction company’s stock after selling 4,020 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Boise Cascade were worth $2,223,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. US Bancorp DE boosted its holdings in Boise Cascade by 267.6% during the fourth quarter. US Bancorp DE now owns 9,518 shares of the construction company’s stock worth $1,231,000 after buying an additional 6,929 shares in the last quarter. TD Asset Management Inc raised its position in shares of Boise Cascade by 8.0% in the fourth quarter. TD Asset Management Inc now owns 39,300 shares of the construction company’s stock worth $5,084,000 after acquiring an additional 2,900 shares during the period. Allianz Asset Management GmbH boosted its stake in shares of Boise Cascade by 16.3% during the 4th quarter. Allianz Asset Management GmbH now owns 158,848 shares of the construction company’s stock worth $20,549,000 after acquiring an additional 22,241 shares in the last quarter. TFO Wealth Partners LLC grew its position in shares of Boise Cascade by 105,250.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,107 shares of the construction company’s stock valued at $259,000 after acquiring an additional 2,105 shares during the period. Finally, Capstone Investment Advisors LLC increased its stake in shares of Boise Cascade by 4.4% in the 4th quarter. Capstone Investment Advisors LLC now owns 3,643 shares of the construction company’s stock valued at $471,000 after purchasing an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Performance

NYSE BCC opened at $141.49 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.28 and a quick ratio of 2.08. The stock’s 50 day simple moving average is $132.32 and its 200-day simple moving average is $133.82. The company has a market cap of $5.59 billion, a PE ratio of 11.50 and a beta of 1.52. Boise Cascade has a 1-year low of $87.32 and a 1-year high of $154.67.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Monday, August 5th. The construction company reported $2.84 earnings per share 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 company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the firm posted $3.67 EPS. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, equities research analysts anticipate that Boise Cascade will post 9.71 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.59%. Boise Cascade’s payout ratio is presently 6.83%.

Wall Street Analyst Weigh In

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

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.