ZWJ Investment Counsel Inc. Buys New Shares in Boise Cascade (NYSE:BCC)

ZWJ Investment Counsel Inc. bought a new stake in Boise Cascade (NYSE:BCC) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,490 shares of the construction company’s stock, valued at approximately $210,000.

A number of other institutional investors have also recently bought and sold shares of the stock. SeaCrest Wealth Management LLC purchased a new stake in Boise Cascade in the third quarter valued at approximately $243,000. Creative Planning grew its holdings in Boise Cascade by 17.9% in the third quarter. Creative Planning now owns 8,596 shares of the construction company’s stock valued at $1,212,000 after purchasing an additional 1,302 shares during the period. Wedge Capital Management L L P NC grew its holdings in Boise Cascade by 1.1% in the third quarter. Wedge Capital Management L L P NC now owns 108,965 shares of the construction company’s stock valued at $15,362,000 after purchasing an additional 1,155 shares during the period. Oliver Luxxe Assets LLC grew its holdings in Boise Cascade by 30.7% in the third quarter. Oliver Luxxe Assets LLC now owns 38,974 shares of the construction company’s stock valued at $5,495,000 after purchasing an additional 9,160 shares during the period. Finally, Ritholtz Wealth Management grew its holdings in Boise Cascade by 13.3% in the third quarter. Ritholtz Wealth Management now owns 2,688 shares of the construction company’s stock valued at $379,000 after purchasing an additional 315 shares during the period. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Boise Cascade Price Performance

BCC opened at $142.08 on Friday. The company has a quick ratio of 2.08, a current ratio of 3.28 and a debt-to-equity ratio of 0.21. Boise Cascade has a 52-week low of $87.32 and a 52-week high of $154.67. The company has a 50 day moving average of $134.33 and a two-hundred day moving average of $133.67. The company has a market cap of $5.61 billion, a P/E ratio of 11.55 and a beta of 1.52.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.16. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the company posted $3.67 earnings per share. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, analysts expect that Boise Cascade will post 9.71 earnings per share for the current year.

Boise Cascade Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.21 per share. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Tuesday, September 3rd. Boise Cascade’s payout ratio is presently 6.83%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BCC. 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 report on Thursday, September 12th. The Goldman Sachs Group decreased their price objective on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. StockNews.com upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Finally, Truist Financial boosted their price objective on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $129.75.

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.