Boise Cascade (NYSE:BCC) Stake Cut by AQR Capital Management LLC

AQR Capital Management LLC lowered its holdings in Boise Cascade (NYSE:BCC - Free Report) by 13.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,214 shares of the construction company's stock after selling 6,814 shares during the period. AQR Capital Management LLC owned approximately 0.11% of Boise Cascade worth $5,033,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Boise Cascade by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 4,709,276 shares of the construction company's stock worth $609,192,000 after purchasing an additional 35,963 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Boise Cascade by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,813,447 shares of the construction company's stock worth $335,419,000 after buying an additional 22,053 shares during the period. Westwood Holdings Group Inc. grew its stake in shares of Boise Cascade by 107.7% in the second quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company's stock valued at $133,278,000 after buying an additional 579,759 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Boise Cascade by 2.4% during the 2nd quarter. American Century Companies Inc. now owns 897,137 shares of the construction company's stock valued at $106,957,000 after buying an additional 21,030 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Boise Cascade by 46.0% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company's stock valued at $45,661,000 after buying an additional 120,600 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 analysts have weighed in on BCC shares. Truist Financial restated a "buy" rating and issued a $154.00 price target (down previously from $159.00) on shares of Boise Cascade in a report on Wednesday, August 7th. StockNews.com lowered shares of Boise Cascade from a "buy" rating to a "hold" rating in a report on Tuesday, August 6th. The Goldman Sachs Group dropped their price target on shares of Boise Cascade from $140.00 to $122.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 10th. Finally, Bank of America upped their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the company an "underperform" rating in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Boise Cascade currently has a consensus rating of "Hold" and a consensus target price of $128.00.

Boise Cascade Stock Up 0.4 %

Shares of Boise Cascade stock traded up $0.61 on Friday, hitting $138.90. 160,928 shares of the company's stock traded hands, compared to its average volume of 317,187. Boise Cascade has a 52-week low of $87.32 and a 52-week high of $154.67. The company has a quick ratio of 2.08, a current ratio of 3.28 and a debt-to-equity ratio of 0.21. The stock has a market cap of $5.48 billion, a P/E ratio of 11.29 and a beta of 1.52. The firm's 50-day moving average is $132.82 and its 200 day moving average is $134.16.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.77 billion. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The firm's revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.67 EPS. Equities analysts anticipate that Boise Cascade will post 9.71 earnings per share for the current year.

Boise Cascade Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.60%. This is an increase from Boise Cascade's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, September 3rd. Boise Cascade's dividend payout ratio (DPR) is 6.83%.

About Boise Cascade

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.