Glenmede Trust Co. NA Decreases Stake in Boise Cascade (NYSE:BCC)

Glenmede Trust Co. NA lowered its stake in Boise Cascade (NYSE:BCC) by 0.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 137,959 shares of the construction company’s stock after selling 508 shares during the period. Glenmede Trust Co. NA’s holdings in Boise Cascade were worth $19,449,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in BCC. Westwood Holdings Group Inc. raised its holdings in shares of Boise Cascade by 107.7% in the second 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 shares of Boise Cascade by 2,978.4% in the second quarter. Marshall Wace LLP now owns 191,047 shares of the construction company’s stock worth $22,777,000 after buying an additional 184,841 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 during the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Boise Cascade by 46.0% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company’s stock worth $45,661,000 after buying an additional 120,600 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Boise Cascade by 1,597.4% in the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock worth $17,907,000 after buying an additional 119,103 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Down 1.4 %

BCC stock opened at $146.35 on Thursday. The firm has a market cap of $5.62 billion, a PE ratio of 14.32 and a beta of 1.53. 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 firm’s fifty day moving average is $140.03 and its 200 day moving average is $133.21. Boise Cascade has a one year low of $106.38 and a one year high of $155.42.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results 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 analyst estimates of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.58 EPS. On average, research analysts forecast that Boise Cascade will post 9.57 EPS for the current year.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be given 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%.

Analysts Set New Price Targets

Several research analysts recently issued reports on BCC shares. Bank of America raised their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a report on Thursday, September 12th. Truist Financial raised their target price on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. BMO Capital Markets raised their target price on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Finally, Loop Capital started coverage on shares of Boise Cascade in a report on Friday, November 1st. They set a “buy” rating and a $155.00 target price for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Boise Cascade 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.