Dynamic Technology Lab Private Ltd Sells 1,009 Shares of Boise Cascade (NYSE:BCC)

Dynamic Technology Lab Private Ltd reduced its stake in shares of Boise Cascade (NYSE:BCC) by 11.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 7,894 shares of the construction company’s stock after selling 1,009 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Boise Cascade were worth $1,113,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC boosted its position in Boise Cascade by 23.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock valued at $53,000 after buying an additional 73 shares during the period. Cerity Partners LLC raised its holdings in Boise Cascade by 34.5% in the 3rd quarter. Cerity Partners LLC now owns 3,897 shares of the construction company’s stock worth $549,000 after acquiring an additional 999 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Boise Cascade by 49.0% during the third quarter. Citigroup Inc. now owns 57,546 shares of the construction company’s stock valued at $8,113,000 after purchasing an additional 18,933 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Boise Cascade by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock worth $61,680,000 after acquiring an additional 9,128 shares during the period. Finally, Intech Investment Management LLC raised its stake in Boise Cascade by 98.3% during the 3rd quarter. Intech Investment Management LLC now owns 13,784 shares of the construction company’s stock valued at $1,943,000 after buying an additional 6,832 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Stock Performance

BCC opened at $148.41 on Wednesday. The stock has a market cap of $5.70 billion, a P/E ratio of 14.52 and a beta of 1.53. The firm has a fifty day moving average price of $139.77 and a 200 day moving average price of $133.11. 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 $106.38 and a 1 year high of $155.42.

Boise Cascade (NYSE:BCC) last announced its earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) 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 business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the firm earned $3.58 EPS. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. Equities research analysts anticipate that Boise Cascade will post 9.57 earnings per share for the current year.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders 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 annualized dividend and a yield of 0.57%. Boise Cascade’s payout ratio is 8.22%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BCC shares. Loop Capital began coverage on shares of Boise Cascade in a report on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective on the stock. BMO Capital Markets increased their price objective 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. Truist Financial upped their price objective on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Bank of America boosted their price objective on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. Finally, StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently 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.