Mutual of America Capital Management LLC Sells 635 Shares of Boise Cascade (NYSE:BCC)

Mutual of America Capital Management LLC trimmed its stake in shares of Boise Cascade (NYSE:BCC) by 9.8% in the third quarter, HoldingsChannel reports. The firm owned 5,854 shares of the construction company’s stock after selling 635 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Boise Cascade were worth $825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Westwood Holdings Group Inc. lifted its stake in shares of Boise Cascade by 107.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company’s stock worth $133,278,000 after buying an additional 579,759 shares during the last quarter. Marshall Wace LLP raised its holdings in Boise Cascade by 2,978.4% in the 2nd quarter. Marshall Wace LLP now owns 191,047 shares of the construction company’s stock valued at $22,777,000 after acquiring an additional 184,841 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Boise Cascade by 293.4% during 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 acquiring an additional 176,738 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Boise Cascade by 46.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company’s stock worth $45,661,000 after acquiring an additional 120,600 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Boise Cascade by 56.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 89,163 shares of the construction company’s stock valued at $12,570,000 after purchasing an additional 32,303 shares during the last quarter. 96.18% of the stock is owned by institutional investors.

Boise Cascade Stock Performance

BCC opened at $148.41 on Wednesday. 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 52-week low of $106.38 and a 52-week high of $155.42. The firm has a market cap of $5.70 billion, a P/E ratio of 14.50 and a beta of 1.53. The business’s fifty day moving average is $139.77 and its 200-day moving average is $133.11.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 earnings per share (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 analyst estimates of $1.72 billion. Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The company’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.58 earnings per share. Sell-side analysts expect that Boise Cascade will post 9.57 EPS 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 $0.21 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 0.57%. Boise Cascade’s dividend payout ratio (DPR) is 8.22%.

Wall Street Analysts Forecast Growth

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

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.