Franklin Resources Inc. Trims Stake in Boise Cascade, L.L.C. $BCC

Franklin Resources Inc. cut its position in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 38.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,466 shares of the construction company’s stock after selling 15,838 shares during the period. Franklin Resources Inc. owned approximately 0.07% of Boise Cascade worth $2,211,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Boise Cascade by 1.6% in the first quarter. Vanguard Group Inc. now owns 4,422,544 shares of the construction company’s stock worth $433,807,000 after purchasing an additional 70,231 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Boise Cascade by 1.4% during the first quarter. Wellington Management Group LLP now owns 2,629,978 shares of the construction company’s stock valued at $257,975,000 after buying an additional 35,639 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of Boise Cascade by 9.7% in the second quarter. Westwood Holdings Group Inc. now owns 1,645,026 shares of the construction company’s stock worth $142,821,000 after buying an additional 145,721 shares during the period. American Century Companies Inc. lifted its stake in shares of Boise Cascade by 8.1% during the 1st quarter. American Century Companies Inc. now owns 1,226,383 shares of the construction company’s stock worth $120,296,000 after acquiring an additional 92,019 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Boise Cascade by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 947,477 shares of the construction company’s stock valued at $82,267,000 after acquiring an additional 7,618 shares during the period. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Stock Up 1.9%

Shares of Boise Cascade stock opened at $76.61 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.10 and a quick ratio of 1.69. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 6.22 and a beta of 1.27. The firm’s 50-day moving average is $72.61 and its two-hundred day moving average is $81.75. Boise Cascade, L.L.C. has a 1 year low of $65.14 and a 1 year high of $147.48.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, November 3rd. The construction company reported $0.58 earnings per share for the quarter, hitting the consensus estimate of $0.58. Boise Cascade had a net margin of 2.96% and a return on equity of 9.00%. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the prior year, the company earned $2.33 EPS. The company’s revenue was down 2.7% compared to the same quarter last year. As a group, research analysts expect that Boise Cascade, L.L.C. will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Monday, December 1st will be issued a $0.22 dividend. The ex-dividend date is Monday, December 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.1%. Boise Cascade’s dividend payout ratio (DPR) is currently 17.39%.

Analysts Set New Price Targets

A number of research firms have weighed in on BCC. The Goldman Sachs Group reduced their target price on Boise Cascade from $96.00 to $82.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Truist Financial cut their price target on shares of Boise Cascade from $101.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Boise Cascade in a report on Monday. Wall Street Zen cut shares of Boise Cascade from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Finally, BMO Capital Markets upgraded shares of Boise Cascade from a “market perform” rating to an “outperform” rating and set a $100.00 target price on the stock in a research note on Wednesday, November 5th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $102.50.

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.