Vestcor Inc Buys 4,000 Shares of Boise Cascade (NYSE:BCC)

Vestcor Inc boosted its stake in Boise Cascade (NYSE:BCC) by 97.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,112 shares of the construction company’s stock after purchasing an additional 4,000 shares during the quarter. Vestcor Inc’s holdings in Boise Cascade were worth $1,144,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Boise Cascade in the third quarter worth about $28,000. Larson Financial Group LLC purchased a new stake in Boise Cascade in the 2nd quarter worth approximately $36,000. CWM LLC lifted its stake in Boise Cascade by 26.5% in the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock worth $95,000 after purchasing an additional 141 shares in the last quarter. Covestor Ltd boosted its holdings in Boise Cascade by 50.1% in the 3rd 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. Finally, Blue Trust Inc. grew its position in shares of Boise Cascade by 423.4% during the 2nd quarter. Blue Trust Inc. now owns 963 shares of the construction company’s stock valued at $115,000 after purchasing an additional 779 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. BMO Capital Markets lifted their price objective on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Truist Financial lifted their price target on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Loop Capital started coverage on shares of Boise Cascade in a research report on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective on the stock. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Bank of America boosted their price target on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $139.60.

Boise Cascade Price Performance

Shares of Boise Cascade stock opened at $142.48 on Thursday. The business’s 50-day moving average price is $141.17 and its 200-day moving average price is $133.86. The firm has a market capitalization of $5.47 billion, a PE ratio of 13.94 and a beta of 1.53. Boise Cascade has a 12 month low of $109.01 and a 12 month high of $155.42. 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 (NYSE:BCC) last issued its quarterly 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). The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The firm’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.58 earnings per share. Sell-side analysts forecast that Boise Cascade will post 9.57 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently declared 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. This represents a $0.84 annualized dividend and a yield of 0.59%. The ex-dividend date is Monday, December 2nd. Boise Cascade’s dividend 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.