5,293 Shares in Boise Cascade (NYSE:BCC) Bought by Prudential PLC

Prudential PLC bought a new position in shares of Boise Cascade (NYSE:BCC) during the 2nd quarter, HoldingsChannel reports. The firm bought 5,293 shares of the construction company’s stock, valued at approximately $631,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd purchased a new position in Boise Cascade during the 1st quarter worth $1,055,000. BNP Paribas Financial Markets lifted its position in Boise Cascade by 80.2% during the 1st quarter. BNP Paribas Financial Markets now owns 23,522 shares of the construction company’s stock worth $3,608,000 after acquiring an additional 10,467 shares during the period. Tower Research Capital LLC TRC lifted its position in Boise Cascade by 1,809.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,659 shares of the construction company’s stock worth $1,638,000 after acquiring an additional 11,996 shares during the period. Burney Co. acquired a new stake in Boise Cascade during the 1st quarter worth about $673,000. Finally, Vanguard Group Inc. lifted its position in Boise Cascade by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 4,709,276 shares of the construction company’s stock worth $609,192,000 after acquiring an additional 35,963 shares during the period. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Truist Financial reaffirmed a “buy” rating and set a $154.00 price target (down previously from $159.00) on shares of Boise Cascade in a research report on Wednesday, August 7th. The Goldman Sachs Group lowered their price target on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Bank of America lifted 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $128.00.

Boise Cascade Stock Performance

Shares of BCC stock opened at $127.57 on Friday. The stock has a market cap of $5.04 billion, a PE ratio of 10.37 and a beta of 1.52. The business has a 50-day simple moving average of $128.96 and a 200-day simple moving average of $133.32. The company has a quick ratio of 2.08, a current ratio of 3.28 and a debt-to-equity ratio of 0.21. Boise Cascade has a 52-week low of $87.32 and a 52-week high of $154.67.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data 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 business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.67 EPS. On average, equities analysts expect that Boise Cascade will post 9.76 EPS for the current year.

Boise Cascade Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be issued a $0.21 dividend. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, September 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 0.66%. Boise Cascade’s dividend payout ratio is presently 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.