Franklin Resources Inc. Increases Stock Holdings in Boise Cascade (NYSE:BCC)

Franklin Resources Inc. raised its position in shares of Boise Cascade (NYSE:BCC) by 0.8% in the third quarter, HoldingsChannel reports. The firm owned 43,958 shares of the construction company’s stock after buying an additional 335 shares during the quarter. Franklin Resources Inc.’s holdings in Boise Cascade were worth $6,285,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BCC. Dimensional Fund Advisors LP grew its position in Boise Cascade by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,813,447 shares of the construction company’s stock valued at $335,419,000 after buying an additional 22,053 shares during the period. Westwood Holdings Group Inc. raised its position in 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 acquiring an additional 579,759 shares during the period. American Century Companies Inc. boosted its stake in shares of Boise Cascade by 2.4% during the 2nd quarter. American Century Companies Inc. now owns 897,137 shares of the construction company’s stock worth $106,957,000 after acquiring an additional 21,030 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Boise Cascade by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock valued at $61,680,000 after acquiring an additional 9,128 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of Boise Cascade by 46.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company’s stock worth $45,661,000 after purchasing an additional 120,600 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Price Performance

BCC stock opened at $122.75 on Monday. The company has a market capitalization of $4.71 billion, a PE ratio of 12.01 and a beta of 1.53. The company’s fifty day moving average price is $139.84 and its 200-day moving average price is $133.64. Boise Cascade has a one year low of $113.89 and a one year high of $155.42. 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 (NYSE:BCC) last released its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 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 period last year, the company earned $3.58 EPS. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, equities analysts anticipate that Boise Cascade will post 9.57 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.68%. The ex-dividend date was Monday, December 2nd. Boise Cascade’s dividend payout ratio is presently 8.22%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BCC. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Bank of America lifted their price objective on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research report on Thursday, September 12th. 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 report on Tuesday, October 15th. BMO Capital Markets lifted their price target on shares of Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Finally, Loop Capital initiated coverage on shares of Boise Cascade in a research note on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $139.60.

Boise Cascade Company 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.