Boise Cascade (NYSE:BCC) Shares Purchased by Peak Financial Advisors LLC

Peak Financial Advisors LLC boosted its holdings in Boise Cascade (NYSE:BCC) by 9.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,458 shares of the construction company’s stock after buying an additional 290 shares during the period. Peak Financial Advisors LLC’s holdings in Boise Cascade were worth $488,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CWM LLC boosted its position in shares of Boise Cascade by 26.5% in the third quarter. CWM LLC now owns 673 shares of the construction company’s stock worth $95,000 after acquiring an additional 141 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Boise Cascade by 162.9% in the 3rd quarter. SG Americas Securities LLC now owns 2,219 shares of the construction company’s stock worth $313,000 after buying an additional 1,375 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Boise Cascade in the 2nd quarter worth about $745,000. Ariadne Wealth Management LP purchased a new position in Boise Cascade in the second quarter valued at approximately $814,000. Finally, Creative Planning lifted its position in Boise Cascade by 27.6% during the second quarter. Creative Planning now owns 7,294 shares of the construction company’s stock valued at $870,000 after buying an additional 1,576 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BCC shares. Truist Financial reissued a “buy” rating and issued a $154.00 price objective (down previously from $159.00) on shares of Boise Cascade in a research report on Wednesday, August 7th. The Goldman Sachs Group cut their price objective 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 upped their target price on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. Finally, StockNews.com upgraded Boise Cascade from a “hold” rating to a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $128.00.

Boise Cascade Stock Performance

Boise Cascade stock opened at $142.37 on Friday. Boise Cascade has a 12-month low of $87.32 and a 12-month high of $154.67. 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 company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 11.57 and a beta of 1.52. The firm’s fifty day moving average price is $133.25 and its 200 day moving average price is $133.97.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.16. The firm had revenue of $1.80 billion for 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 firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.67 earnings per share. On average, research analysts forecast that Boise Cascade will post 9.71 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.59%. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, September 3rd. Boise Cascade’s dividend payout ratio (DPR) 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.