Boise Cascade (NYSE:BCC) Stock Holdings Boosted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its position in Boise Cascade (NYSE:BCC - Free Report) by 56.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,163 shares of the construction company's stock after purchasing an additional 32,303 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.23% of Boise Cascade worth $12,570,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Larson Financial Group LLC bought a new position in Boise Cascade during the 2nd quarter worth $36,000. iA Global Asset Management Inc. purchased a new stake in shares of Boise Cascade during the 1st quarter worth approximately $82,000. Daiwa Securities Group Inc. raised its stake in Boise Cascade by 500.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company's stock valued at $92,000 after acquiring an additional 500 shares during the period. GAMMA Investing LLC boosted its stake in Boise Cascade by 33.4% in the 2nd quarter. GAMMA Investing LLC now owns 787 shares of the construction company's stock worth $94,000 after purchasing an additional 197 shares during the period. Finally, CWM LLC grew its position in shares of Boise Cascade by 26.5% during the 3rd 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. Institutional investors and hedge funds own 96.18% of the company's stock.

Boise Cascade Trading Down 1.2 %

NYSE:BCC traded down $1.59 on Friday, reaching $135.38. The company's stock had a trading volume of 180,094 shares, compared to its average volume of 309,700. 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 50 day moving average price of $135.76 and a 200 day moving average price of $132.98. Boise Cascade has a 12-month low of $87.32 and a 12-month high of $154.67. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of 11.01 and a beta of 1.52.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.16. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the business posted $3.67 EPS. The firm's quarterly revenue was down 1.0% compared to the same quarter last year. On average, equities analysts anticipate that Boise Cascade will post 9.71 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a positive change from Boise Cascade's previous quarterly dividend of $0.20. Boise Cascade's dividend payout ratio (DPR) is 6.83%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BCC shares. Bank of America lifted 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. StockNews.com upgraded shares of Boise Cascade from a "hold" rating to a "buy" rating in a research note on Tuesday, October 8th. Truist Financial upped their price target on Boise Cascade from $154.00 to $161.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. 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. Finally, The Goldman Sachs Group cut their price objective on shares of Boise Cascade from $140.00 to $122.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $135.75.

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.