Wedge Capital Management L L P NC Trims Stake in Boise Cascade (NYSE:BCC)

Wedge Capital Management L L P NC lowered its stake in shares of Boise Cascade (NYSE:BCC) by 9.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 98,671 shares of the construction company’s stock after selling 10,294 shares during the period. Wedge Capital Management L L P NC’s holdings in Boise Cascade were worth $11,728,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new position in shares of Boise Cascade during the third quarter valued at about $28,000. Larson Financial Group LLC grew its holdings in Boise Cascade by 23.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after purchasing an additional 73 shares during the period. CWM LLC grew its holdings in 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 purchasing an additional 141 shares during the period. Covestor Ltd grew its holdings in Boise Cascade by 50.1% in the third quarter. Covestor Ltd now owns 689 shares of the construction company’s stock worth $97,000 after purchasing an additional 230 shares during the period. Finally, KBC Group NV grew its holdings in Boise Cascade by 19.0% in the third quarter. KBC Group NV now owns 1,226 shares of the construction company’s stock worth $173,000 after purchasing an additional 196 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Loop Capital assumed coverage on shares of Boise Cascade in a report on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective on the stock. Truist Financial cut their price objective on shares of Boise Cascade from $161.00 to $157.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, BMO Capital Markets increased their price target on shares of Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Boise Cascade has an average rating of “Hold” and an average price target of $139.60.

Boise Cascade Trading Down 0.2 %

NYSE:BCC opened at $128.25 on Friday. The company’s 50 day moving average price is $133.00 and its 200-day moving average price is $133.16. Boise Cascade has a 52 week low of $113.38 and a 52 week high of $155.42. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 12.55 and a beta of 1.58.

Boise Cascade (NYSE:BCC) last posted 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). The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.58 EPS. On average, equities research analysts forecast that Boise Cascade will post 9.6 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 0.65%. Boise Cascade’s dividend payout ratio (DPR) is 8.22%.

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.