Boise Cascade (NYSE:BCC) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its stake in Boise Cascade (NYSE:BCC – Get Rating) by 45.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,519 shares of the construction company’s stock after selling 6,239 shares during the period. Truist Financial Corp’s holdings in Boise Cascade were worth $447,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Captrust Financial Advisors lifted its holdings in shares of Boise Cascade by 3.0% in the 2nd quarter. Captrust Financial Advisors now owns 5,026 shares of the construction company’s stock valued at $299,000 after buying an additional 148 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Boise Cascade by 9.7% in the 1st quarter. Lazard Asset Management LLC now owns 1,930 shares of the construction company’s stock valued at $134,000 after buying an additional 170 shares during the period. Maryland State Retirement & Pension System lifted its holdings in shares of Boise Cascade by 1.4% in the 2nd quarter. Maryland State Retirement & Pension System now owns 15,985 shares of the construction company’s stock valued at $951,000 after buying an additional 213 shares during the period. Ronald Blue Trust Inc. lifted its holdings in shares of Boise Cascade by 119.8% in the 3rd quarter. Ronald Blue Trust Inc. now owns 455 shares of the construction company’s stock valued at $27,000 after buying an additional 248 shares during the period. Finally, Convergence Investment Partners LLC raised its holdings in Boise Cascade by 11.6% in the 2nd quarter. Convergence Investment Partners LLC now owns 2,598 shares of the construction company’s stock worth $155,000 after purchasing an additional 269 shares during the period. Institutional investors and hedge funds own 92.78% of the company’s stock.

Boise Cascade Price Performance

NYSE:BCC opened at $70.48 on Tuesday. Boise Cascade has a 12 month low of $55.14 and a 12 month high of $85.17. The stock has a 50 day moving average of $71.03 and a two-hundred day moving average of $66.85. The company has a current ratio of 2.95, a quick ratio of 1.91 and a debt-to-equity ratio of 0.24. The firm has a market cap of $2.78 billion, a P/E ratio of 3.08 and a beta of 1.55.

Boise Cascade (NYSE:BCC – Get Rating) last posted its quarterly earnings data on Monday, October 31st. The construction company reported $5.52 EPS for the quarter, topping the consensus estimate of $4.45 by $1.07. Boise Cascade had a return on equity of 53.89% and a net margin of 10.65%. The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the business earned $2.31 EPS. Boise Cascade’s quarterly revenue was up 14.6% on a year-over-year basis. On average, analysts expect that Boise Cascade will post 21.58 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently declared a None dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were given a $1.15 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This is a positive change from Boise Cascade’s previous None dividend of $0.12. This represents a dividend yield of 0.9%. Boise Cascade’s dividend payout ratio is 2.62%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. StockNews.com cut Boise Cascade from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 10th. Bank of America cut Boise Cascade from a “neutral” rating to an “underperform” rating in a report on Thursday, October 13th. Finally, The Goldman Sachs Group upped their price target on Boise Cascade from $64.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, November 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.25.

About Boise Cascade

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Boise Cascade Company manufactures wood products and distributes 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 lumber products.