Bailard Inc. Acquires 1,600 Shares of Boise Cascade (NYSE:BCC)

Bailard Inc. raised its position in shares of Boise Cascade (NYSE:BCC) by 41.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,456 shares of the construction company’s stock after purchasing an additional 1,600 shares during the quarter. Bailard Inc.’s holdings in Boise Cascade were worth $650,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Boise Cascade by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 4,709,276 shares of the construction company’s stock valued at $609,192,000 after purchasing an additional 35,963 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Boise Cascade by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,801,903 shares of the construction company’s stock worth $362,456,000 after acquiring an additional 28,952 shares during the period. Norges Bank purchased a new stake in Boise Cascade in the fourth quarter worth about $60,383,000. LSV Asset Management lifted its stake in Boise Cascade by 55.0% in the fourth quarter. LSV Asset Management now owns 446,057 shares of the construction company’s stock worth $57,702,000 after acquiring an additional 158,363 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Boise Cascade by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 421,920 shares of the construction company’s stock worth $54,580,000 after purchasing an additional 12,140 shares in the last quarter. 96.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BCC shares. The Goldman Sachs Group cut their price target on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Truist Financial reissued a “buy” rating and issued a $154.00 target price (down from $159.00) on shares of Boise Cascade in a research note on Wednesday, August 7th. Finally, StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One 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, the stock currently has an average rating of “Hold” and an average price target of $124.75.

Boise Cascade Price Performance

Shares of NYSE:BCC traded down $2.69 on Monday, reaching $135.97. 236,623 shares of the company were exchanged, compared to its average volume of 307,367. The company has a current ratio of 3.24, a quick ratio of 2.05 and a debt-to-equity ratio of 0.21. Boise Cascade has a 1-year low of $87.32 and a 1-year high of $154.67. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 11.22 and a beta of 1.50. The company has a 50-day moving average of $126.85 and a 200-day moving average of $133.97.

Boise Cascade (NYSE:BCC) last released its earnings results 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 net margin of 7.08% and a return on equity of 22.00%. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the firm earned $3.67 EPS. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. Equities analysts forecast that Boise Cascade will post 10.41 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Tuesday, September 3rd. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20. Boise Cascade’s dividend payout ratio is 6.83%.

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.