Quantbot Technologies LP Sells 3,952 Shares of Boise Cascade (NYSE:BCC)

Quantbot Technologies LP lessened its stake in Boise Cascade (NYSE:BCC) by 28.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,086 shares of the construction company’s stock after selling 3,952 shares during the quarter. Quantbot Technologies LP’s holdings in Boise Cascade were worth $1,422,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BCC. Harbor Capital Advisors Inc. bought a new stake in Boise Cascade during the third quarter worth $28,000. Larson Financial Group LLC bought a new stake in Boise Cascade during the second quarter worth $36,000. iA Global Asset Management Inc. bought a new stake in Boise Cascade during the first quarter worth $82,000. GAMMA Investing LLC lifted its holdings in Boise Cascade by 33.4% during the second 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 lifted its holdings in Boise Cascade by 26.5% during the third quarter. CWM LLC now owns 673 shares of the construction company’s stock worth $95,000 after acquiring an additional 141 shares during the period. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Price Performance

Boise Cascade stock opened at $147.66 on Friday. Boise Cascade has a 52 week low of $106.38 and a 52 week high of $155.42. The business has a 50-day simple moving average of $140.24 and a 200 day simple moving average of $133.40. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 14.45 and a beta of 1.53.

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. On average, research analysts forecast that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade’s payout ratio is currently 8.22%.

Analyst Upgrades and Downgrades

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