Rathbones Group PLC Trims Stake in Boise Cascade (NYSE:BCC)

Rathbones Group PLC lowered its position in Boise Cascade (NYSE:BCC) by 4.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 132,414 shares of the construction company’s stock after selling 6,892 shares during the quarter. Rathbones Group PLC owned about 0.34% of Boise Cascade worth $15,786,000 at the end of the most recent quarter.

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

Boise Cascade Trading Up 6.6 %

Shares of BCC opened at $135.86 on Monday. Boise Cascade has a 1-year low of $87.32 and a 1-year high of $154.67. The company has a current ratio of 3.28, a quick ratio of 2.08 and a debt-to-equity ratio of 0.21. The firm’s 50-day moving average price is $129.56 and its 200-day moving average price is $133.32. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of 11.05 and a beta of 1.52.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.68 by $0.16. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the business posted $3.67 earnings per share. Boise Cascade’s quarterly revenue was down 1.0% compared to the same quarter last year. Sell-side analysts anticipate that Boise Cascade will post 9.76 EPS for the current year.

Boise Cascade Increases Dividend

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. 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 note on Thursday. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Truist Financial reaffirmed a “buy” rating and issued a $154.00 target price (down previously from $159.00) on shares of Boise Cascade in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group lowered their price objective on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. 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 data from MarketBeat, Boise Cascade currently has a consensus rating of “Hold” and a consensus price target of $128.00.

About Boise Cascade

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.