Boise Cascade (NYSE:BCC) Position Lessened by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in Boise Cascade (NYSE:BCC) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,685 shares of the construction company’s stock after selling 2,290 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.52% of Boise Cascade worth $28,293,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BCC. GAMMA Investing LLC lifted its holdings in shares of Boise Cascade by 33.4% during the 2nd quarter. GAMMA Investing LLC now owns 787 shares of the construction company’s stock valued at $94,000 after buying an additional 197 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Boise Cascade by 4.9% during the 2nd quarter. QRG Capital Management Inc. now owns 30,715 shares of the construction company’s stock valued at $3,662,000 after buying an additional 1,445 shares during the last quarter. Peak Financial Advisors LLC acquired a new stake in shares of Boise Cascade during the 2nd quarter valued at about $378,000. MorganRosel Wealth Management LLC lifted its holdings in shares of Boise Cascade by 1.8% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 7,756 shares of the construction company’s stock valued at $925,000 after buying an additional 138 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Boise Cascade by 423.4% during the 2nd quarter. Blue Trust Inc. now owns 963 shares of the construction company’s stock valued at $115,000 after buying an additional 779 shares during the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BCC. Loop Capital began 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. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. BMO Capital Markets raised their price objective on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Truist Financial raised their price objective on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Bank of America raised their price objective on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. 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, the stock currently has a consensus rating of “Hold” and an average target price of $139.60.

Boise Cascade Stock Performance

Shares of NYSE BCC opened at $146.90 on Thursday. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $140.83 and its two-hundred day moving average is $133.65. The company has a market cap of $5.64 billion, a P/E ratio of 14.37 and a beta of 1.53. Boise Cascade has a 12 month low of $109.01 and a 12 month high of $155.42.

Boise Cascade (NYSE:BCC) last issued 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 business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.72 billion. Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.58 earnings per share. On average, equities analysts expect that Boise Cascade will post 9.57 EPS for the current year.

Boise Cascade Announces Dividend

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

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.