Jacobs Levy Equity Management Inc. Has $60.87 Million Stock Holdings in Boise Cascade (NYSE:BCC)

Jacobs Levy Equity Management Inc. cut its holdings in shares of Boise Cascade (NYSE:BCC) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 431,788 shares of the construction company’s stock after selling 11,465 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 1.12% of Boise Cascade worth $60,873,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of BCC. Harbor Capital Advisors Inc. bought a new stake in shares of Boise Cascade during the third quarter worth $28,000. Larson Financial Group LLC purchased a new stake in shares of Boise Cascade during the 2nd quarter valued at approximately $36,000. CWM LLC lifted its stake in Boise Cascade by 26.5% in the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock worth $95,000 after purchasing an additional 141 shares in the last quarter. Covestor Ltd increased its holdings in shares of Boise Cascade by 50.1% in the 3rd quarter. Covestor Ltd now owns 689 shares of the construction company’s stock worth $97,000 after buying an additional 230 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Boise Cascade by 33.4% in the 2nd quarter. GAMMA Investing LLC now owns 787 shares of the construction company’s stock worth $94,000 after acquiring an additional 197 shares during the last quarter. 96.18% of the stock is owned by institutional investors.

Boise Cascade Stock Up 0.1 %

BCC stock opened at $147.52 on Tuesday. 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 $109.01 and a 1-year high of $155.42. The firm has a fifty day moving average price of $140.57 and a two-hundred day moving average price of $133.48. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of 14.43 and a beta of 1.53.

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

Boise Cascade Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a $0.21 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.57%. Boise Cascade’s dividend payout ratio is 8.22%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BCC shares. Loop Capital assumed coverage on shares of Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 price objective for the company. StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. BMO Capital Markets boosted 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. Bank of America increased their price target on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. Finally, 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 research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.