Thrivent Financial for Lutherans Sells 2,210 Shares of Boise Cascade (NYSE:BCC)

Thrivent Financial for Lutherans lessened its stake in shares of Boise Cascade (NYSE:BCC) by 6.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 30,563 shares of the construction company’s stock after selling 2,210 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Boise Cascade were worth $4,309,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. bought a new stake in shares of Boise Cascade in the 3rd quarter worth approximately $28,000. Larson Financial Group LLC bought a new stake in shares of Boise Cascade in the second quarter valued at $36,000. iA Global Asset Management Inc. purchased a new position in shares of Boise Cascade during the 1st quarter valued at $82,000. GAMMA Investing LLC grew its stake in shares of Boise Cascade by 33.4% during the 2nd quarter. GAMMA Investing LLC now owns 787 shares of the construction company’s stock worth $94,000 after acquiring an additional 197 shares during the period. Finally, CWM LLC increased its holdings 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 acquiring an additional 141 shares during the last quarter. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Up 2.4 %

Shares of NYSE:BCC opened at $143.78 on Monday. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 14.07 and a beta of 1.53. Boise Cascade has a one year low of $106.38 and a one year high of $154.67. The firm has a fifty day moving average price of $139.41 and a two-hundred day moving average price of $133.00. 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 posted its earnings results on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.04). Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the firm earned $3.58 earnings per share. Boise Cascade’s quarterly revenue was down 6.6% compared to the same quarter last year. Analysts anticipate that Boise Cascade will post 9.57 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade’s dividend payout ratio is currently 8.22%.

Analyst Upgrades and Downgrades

BCC has been the topic of several recent research reports. Bank of America upped their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. BMO Capital Markets lifted their price objective on shares of Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Loop Capital initiated coverage on Boise Cascade in a research report on Friday, November 1st. They set a “buy” rating and a $155.00 target price on the stock. Finally, 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $139.60.

About Boise Cascade

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.