Navellier & Associates Inc. Decreases Stock Position in Boise Cascade (NYSE:BCC)

Navellier & Associates Inc. lessened its stake in shares of Boise Cascade (NYSE:BCC) by 24.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,035 shares of the construction company’s stock after selling 1,589 shares during the quarter. Navellier & Associates Inc.’s holdings in Boise Cascade were worth $710,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Pitcairn Co. bought a new position in Boise Cascade in the 1st quarter valued at $247,000. MQS Management LLC bought a new position in Boise Cascade in the 1st quarter valued at $205,000. BOKF NA grew its position in Boise Cascade by 80.2% in the 1st quarter. BOKF NA now owns 2,900 shares of the construction company’s stock valued at $444,000 after acquiring an additional 1,291 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Boise Cascade by 293.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock valued at $36,346,000 after acquiring an additional 176,738 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new position in Boise Cascade in the 1st quarter valued at $745,000. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BCC shares. Truist Financial increased their price target on Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Bank of America increased their price target on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. BMO Capital Markets increased their price target on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Finally, Loop Capital initiated coverage on Boise Cascade in a research report on Friday, November 1st. They set a “buy” rating and a $155.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Boise Cascade currently has an average rating of “Hold” and a consensus target price of $139.60.

Boise Cascade Trading Up 2.1 %

Boise Cascade stock opened at $140.36 on Friday. The stock has a 50-day moving average of $139.00 and a two-hundred day moving average of $132.90. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. Boise Cascade has a one year low of $106.38 and a one year high of $154.67. The stock has a market cap of $5.39 billion, a PE ratio of 13.76 and a beta of 1.53.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the business posted $3.58 earnings per share. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, research analysts anticipate that Boise Cascade will post 9.57 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Monday, December 2nd. Boise Cascade’s payout ratio is 8.22%.

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.