Boise Cascade (NYSE:BCC) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. trimmed its position in Boise Cascade (NYSE:BCC - Free Report) by 8.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 104,004 shares of the construction company's stock after selling 10,084 shares during the period. Advisors Asset Management Inc. owned about 0.27% of Boise Cascade worth $14,662,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new stake in Boise Cascade during the third quarter valued at approximately $28,000. Larson Financial Group LLC purchased a new stake in shares of Boise Cascade in the 2nd quarter worth $36,000. iA Global Asset Management Inc. bought a new position in Boise Cascade in the 1st quarter worth $82,000. CWM LLC lifted its position in Boise Cascade by 26.5% during the third quarter. CWM LLC now owns 673 shares of the construction company's stock valued at $95,000 after purchasing an additional 141 shares in the last quarter. Finally, Covestor Ltd grew its holdings in Boise Cascade by 50.1% during the third quarter. Covestor Ltd now owns 689 shares of the construction company's stock valued at $97,000 after purchasing an additional 230 shares during the period. Hedge funds and other institutional investors own 96.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Loop Capital began coverage on Boise Cascade in a research note on Friday, November 1st. They issued a "buy" rating and a $155.00 price target for the company. StockNews.com lowered shares of Boise Cascade from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. BMO Capital Markets boosted their target price on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a "market perform" rating in a report on Tuesday, October 22nd. Truist Financial lifted their price target on shares of Boise Cascade from $154.00 to $161.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Finally, Bank of America upped their price objective on Boise Cascade from $120.00 to $124.00 and gave the stock an "underperform" rating in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Boise Cascade has an average rating of "Hold" and an average price target of $139.60.

Boise Cascade Trading Down 0.6 %

Shares of BCC stock traded down $0.77 during trading hours on Wednesday, reaching $137.41. 128,765 shares of the stock were exchanged, compared to its average volume of 305,567. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. Boise Cascade has a 12-month low of $106.38 and a 12-month high of $154.67. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 13.51 and a beta of 1.53. The company's 50-day moving average price is $138.69 and its 200-day moving average price is $132.87.

Boise Cascade (NYSE:BCC - Get Free Report) last released its earnings results on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing analysts' consensus estimates of $2.37 by ($0.04). Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the company posted $3.58 EPS. The company's quarterly revenue was down 6.6% compared to the same quarter last year. As a group, equities analysts anticipate that Boise Cascade will post 9.57 earnings per share for the current year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Monday, December 2nd. Boise Cascade's payout ratio is presently 8.22%.

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.