Gallacher Capital Management LLC Acquires 1,405 Shares of Boise Cascade (NYSE:BCC)

Gallacher Capital Management LLC increased its holdings in Boise Cascade (NYSE:BCC) by 52.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,082 shares of the construction company’s stock after purchasing an additional 1,405 shares during the period. Gallacher Capital Management LLC’s holdings in Boise Cascade were worth $487,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BCC. Norges Bank purchased a new stake in Boise Cascade during the fourth quarter valued at about $60,383,000. Price T Rowe Associates Inc. MD grew its position in Boise Cascade by 293.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock worth $36,346,000 after acquiring an additional 176,738 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in Boise Cascade by 358.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 133,961 shares of the construction company’s stock worth $17,329,000 after purchasing an additional 104,713 shares during the period. First Trust Advisors LP lifted its position in Boise Cascade by 22.1% in the fourth quarter. First Trust Advisors LP now owns 304,436 shares of the construction company’s stock valued at $39,382,000 after purchasing an additional 55,077 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Boise Cascade by 76.4% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 88,132 shares of the construction company’s stock valued at $13,517,000 after purchasing an additional 38,173 shares during the period. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Performance

Shares of BCC stock opened at $124.13 on Friday. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of 10.09 and a beta of 1.52. The stock has a fifty day moving average of $128.67 and a 200 day moving average of $133.43. Boise Cascade has a 52 week low of $87.32 and a 52 week high of $154.67. 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 (NYSE:BCC) last posted its earnings results on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.68 by $0.16. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the company posted $3.67 EPS. As a group, research analysts expect that Boise Cascade will post 9.76 earnings per share for the current year.

Boise Cascade Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. Boise Cascade’s dividend payout ratio (DPR) is presently 6.83%.

Analyst Ratings Changes

Several brokerages recently commented on BCC. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group decreased their price objective on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, Truist Financial reaffirmed a “buy” rating and set a $154.00 price objective (down from $159.00) on shares of Boise Cascade in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $124.75.

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.