Boise Cascade (NYSE:BCC) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its stake in Boise Cascade (NYSE:BCC) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,813,447 shares of the construction company’s stock after buying an additional 22,053 shares during the period. Dimensional Fund Advisors LP owned approximately 0.07% of Boise Cascade worth $335,419,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Massachusetts Financial Services Co. MA grew its position in Boise Cascade by 8.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 31,939 shares of the construction company’s stock valued at $3,808,000 after acquiring an additional 2,527 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Boise Cascade by 13.9% in the second quarter. Envestnet Asset Management Inc. now owns 116,181 shares of the construction company’s stock valued at $13,851,000 after purchasing an additional 14,139 shares during the period. Meeder Asset Management Inc. grew its holdings in Boise Cascade by 10.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 17,833 shares of the construction company’s stock valued at $2,126,000 after purchasing an additional 1,675 shares in the last quarter. Vest Financial LLC increased its stake in Boise Cascade by 44.2% during the 2nd quarter. Vest Financial LLC now owns 9,123 shares of the construction company’s stock worth $1,088,000 after buying an additional 2,798 shares during the period. Finally, BOKF NA lifted its holdings in Boise Cascade by 78.7% in the 2nd quarter. BOKF NA now owns 5,181 shares of the construction company’s stock worth $618,000 after buying an additional 2,281 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BCC shares. The Goldman Sachs Group lowered their target price on 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 lowered Boise Cascade from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Truist Financial restated a “buy” rating and set a $154.00 price objective (down from $159.00) on shares of Boise Cascade in a report on Wednesday, August 7th. Finally, Bank of America increased their price objective on shares of 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 one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $128.00.

Boise Cascade Trading Down 0.8 %

NYSE BCC opened at $134.84 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28. Boise Cascade has a one year low of $87.32 and a one year high of $154.67. The company has a 50-day simple moving average of $129.56 and a 200-day simple moving average of $133.32. The firm has a market capitalization of $5.32 billion, a PE ratio of 10.94 and a beta of 1.52.

Boise Cascade (NYSE:BCC) last issued its earnings results on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.16. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.77 billion. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. Boise Cascade’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.67 earnings per share. On average, equities analysts forecast that Boise Cascade will post 9.76 earnings per share for the current year.

Boise Cascade Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.21 per share. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Tuesday, September 3rd. Boise Cascade’s dividend payout ratio is presently 6.83%.

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.