National Bank of Canada FI Sells 110 Shares of Boise Cascade (NYSE:BCC)

National Bank of Canada FI lowered its stake in shares of Boise Cascade (NYSE:BCC) by 25.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 315 shares of the construction company’s stock after selling 110 shares during the period. National Bank of Canada FI’s holdings in Boise Cascade were worth $44,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Blue Trust Inc. lifted its stake in Boise Cascade by 423.4% in the second quarter. Blue Trust Inc. now owns 963 shares of the construction company’s stock valued at $115,000 after acquiring an additional 779 shares during the last quarter. Raymond James & Associates lifted its stake in Boise Cascade by 247.6% in the 2nd quarter. Raymond James & Associates now owns 15,143 shares of the construction company’s stock valued at $1,805,000 after purchasing an additional 10,786 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new position in Boise Cascade during the second quarter worth about $188,000. SummerHaven Investment Management LLC grew its holdings in Boise Cascade by 1.5% during the second quarter. SummerHaven Investment Management LLC now owns 7,776 shares of the construction company’s stock worth $927,000 after purchasing an additional 113 shares during the period. Finally, Louisiana State Employees Retirement System raised its stake in Boise Cascade by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 19,900 shares of the construction company’s stock valued at $2,372,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Stock Performance

NYSE:BCC opened at $133.04 on Wednesday. The business has a fifty day simple moving average of $141.04 and a two-hundred day simple moving average of $133.87. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 1.90. Boise Cascade has a 1 year low of $113.89 and a 1 year high of $155.42. The company has a market capitalization of $5.11 billion, a P/E ratio of 13.02 and a beta of 1.53.

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

Boise Cascade Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.63%. The ex-dividend date is Monday, December 2nd. Boise Cascade’s dividend payout ratio is presently 8.22%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. BMO Capital Markets lifted their target price on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Truist Financial lifted their price objective 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. Bank of America boosted their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research report on Thursday, September 12th. Finally, Loop Capital started coverage on Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 target price for the company. One equities 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. Based on data from MarketBeat.com, the company currently has an average 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.