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

Quantbot Technologies LP reduced its position in shares of Boise Cascade (NYSE:BCC) by 28.2% in the third quarter, HoldingsChannel reports. 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 quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC boosted its position in Boise Cascade by 23.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock valued at $53,000 after acquiring an additional 73 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Boise Cascade by 4.6% in the third quarter. Sequoia Financial Advisors LLC now owns 1,757 shares of the construction company’s stock worth $248,000 after purchasing an additional 78 shares during the period. SummerHaven Investment Management LLC raised its holdings in Boise Cascade by 1.5% in the second quarter. SummerHaven Investment Management LLC now owns 7,776 shares of the construction company’s stock worth $927,000 after purchasing an additional 113 shares in the last quarter. Miller Howard Investments Inc. NY lifted its position in Boise Cascade by 2.1% during the second quarter. Miller Howard Investments Inc. NY now owns 5,892 shares of the construction company’s stock valued at $702,000 after buying an additional 124 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its holdings in shares of Boise Cascade by 7.3% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,893 shares of the construction company’s stock valued at $267,000 after buying an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Performance

Shares of BCC stock opened at $147.66 on Friday. Boise Cascade has a one year low of $106.38 and a one year high of $155.42. The company’s 50-day moving average is $140.24 and its 200 day moving average is $133.40. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 14.45 and a beta of 1.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data 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 net margin of 5.95% and a return on equity of 18.24%. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the company posted $3.58 earnings per share. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. Sell-side analysts expect that Boise Cascade will post 9.57 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.21 per share. 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 presently 8.22%.

Analyst Upgrades and Downgrades

BCC has been the topic of a number of recent research reports. Loop Capital initiated coverage on shares of Boise Cascade in a research report on Friday, November 1st. They issued a “buy” rating and a $155.00 target price on the stock. Truist Financial upped their target price on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. BMO Capital Markets upped their target price on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Bank of America upped their target price 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. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.