Royce & Associates LP Sells 6,339 Shares of Boise Cascade (NYSE:BCC)

Royce & Associates LP cut its position in Boise Cascade (NYSE:BCC - Free Report) by 33.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,350 shares of the construction company's stock after selling 6,339 shares during the quarter. Royce & Associates LP's holdings in Boise Cascade were worth $1,741,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. UniSuper Management Pty Ltd purchased a new stake in shares of Boise Cascade during the first quarter worth about $1,055,000. Algert Global LLC boosted its stake in shares of Boise Cascade by 8.3% during the 2nd quarter. Algert Global LLC now owns 79,277 shares of the construction company's stock valued at $9,451,000 after buying an additional 6,059 shares during the last quarter. Burney Co. purchased a new position in shares of Boise Cascade during the 1st quarter valued at approximately $673,000. Seven Eight Capital LP increased its stake in shares of Boise Cascade by 31.6% in the second quarter. Seven Eight Capital LP now owns 17,896 shares of the construction company's stock worth $2,134,000 after buying an additional 4,300 shares during the last quarter. Finally, Edgestream Partners L.P. raised its holdings in Boise Cascade by 102.7% in the first quarter. Edgestream Partners L.P. now owns 8,508 shares of the construction company's stock valued at $1,305,000 after acquiring an additional 4,310 shares in the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Price Performance

Shares of NYSE BCC traded down $0.41 during mid-day trading on Wednesday, reaching $137.77. 22,068 shares of the company traded hands, compared to its average volume of 305,092. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 1.90. The firm has a market cap of $5.29 billion, a PE ratio of 13.51 and a beta of 1.53. The stock has a fifty day simple moving average of $138.69 and a 200-day simple moving average of $132.87. Boise Cascade has a fifty-two week low of $106.38 and a fifty-two week high of $154.67.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.37 by ($0.04). Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The company 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 earnings per share. The firm's revenue for the quarter was down 6.6% on a year-over-year basis. Equities research analysts anticipate that Boise Cascade will post 9.57 EPS for the current fiscal 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 paid a $0.21 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 0.61%. Boise Cascade's dividend payout ratio (DPR) is currently 8.22%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Bank of America raised their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an "underperform" rating in a report on Thursday, September 12th. BMO Capital Markets lifted their price target on Boise Cascade from $130.00 to $136.00 and gave the stock a "market perform" rating in a research note 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 note on Tuesday, October 15th. StockNews.com lowered Boise Cascade from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Finally, Loop Capital started coverage on Boise Cascade in a research report on Friday, November 1st. They set a "buy" rating and a $155.00 price target on the stock. One 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, Boise Cascade currently has an average rating of "Hold" and a consensus price target of $139.60.

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.