Glenmede Trust Co. NA Reduces Position in Boise Cascade (NYSE:BCC)

Glenmede Trust Co. NA cut its position in shares of Boise Cascade (NYSE:BCC) by 0.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 137,959 shares of the construction company’s stock after selling 508 shares during the period. Glenmede Trust Co. NA owned approximately 0.36% of Boise Cascade worth $19,449,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Bridgewater Associates LP purchased a new stake in Boise Cascade in the 3rd quarter valued at about $262,000. Cynosure Group LLC purchased a new stake in Boise Cascade in the 3rd quarter valued at about $366,000. BNP Paribas Financial Markets boosted its position in Boise Cascade by 30.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,716 shares of the construction company’s stock valued at $2,921,000 after buying an additional 4,860 shares during the period. FMR LLC boosted its position in Boise Cascade by 158.9% in the 3rd quarter. FMR LLC now owns 126,123 shares of the construction company’s stock valued at $17,781,000 after buying an additional 77,401 shares during the period. Finally, Bank of Montreal Can boosted its position in Boise Cascade by 1,597.4% in the 3rd quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock valued at $17,907,000 after buying an additional 119,103 shares during the period. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Price Performance

Shares of BCC opened at $146.35 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. The stock has a market capitalization of $5.62 billion, a PE ratio of 14.32 and a beta of 1.53. The company has a 50 day moving average price of $140.03 and a 200-day moving average price of $133.21. Boise Cascade has a fifty-two week low of $106.38 and a fifty-two week high of $155.42.

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

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 0.57%. Boise Cascade’s dividend payout ratio (DPR) is presently 8.22%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BCC shares. Loop Capital started coverage on shares of Boise Cascade in a research report on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective for the company. BMO Capital Markets upped their price target on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Truist Financial upped their price target on shares of 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 cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Bank of America upped their price target on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $139.60.

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.