World Investment Advisors LLC Takes Position in Boise Cascade (NYSE:BCC)

World Investment Advisors LLC acquired a new position in Boise Cascade (NYSE:BCC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 28,337 shares of the construction company’s stock, valued at approximately $3,995,000. World Investment Advisors LLC owned approximately 0.07% of Boise Cascade at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Boise Cascade by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,813,447 shares of the construction company’s stock valued at $335,419,000 after purchasing an additional 22,053 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in shares of Boise Cascade by 107.7% during 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 during the last quarter. American Century Companies Inc. increased its position in shares of Boise Cascade by 2.4% in the 2nd quarter. American Century Companies Inc. now owns 897,137 shares of the construction company’s stock valued at $106,957,000 after acquiring an additional 21,030 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Boise Cascade by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock worth $61,680,000 after acquiring an additional 9,128 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in 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 worth $45,661,000 after acquiring an additional 120,600 shares during the period. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Boise Cascade Stock Performance

BCC opened at $136.26 on Friday. The firm has a fifty day moving average price of $141.14 and a 200 day moving average price of $133.87. Boise Cascade has a 1 year low of $113.89 and a 1 year high of $155.42. The stock has a market cap of $5.23 billion, a P/E ratio of 13.33 and a beta of 1.53. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 1.90.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 earnings per share 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 firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the company posted $3.58 EPS. The company’s revenue was down 6.6% on a year-over-year basis. Equities research analysts anticipate that Boise Cascade will post 9.57 earnings per share for the current year.

Boise Cascade Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.62%. The ex-dividend date is Monday, December 2nd. Boise Cascade’s payout ratio is currently 8.22%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BCC shares. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Loop Capital started coverage on shares of Boise Cascade in a report on Friday, November 1st. They issued a “buy” rating and a $155.00 price target on the stock. Bank of America raised their price target on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. BMO Capital Markets upped 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, October 22nd. Finally, Truist Financial raised their target price on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $139.60.

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.