Franklin Resources Inc. Decreases Stock Holdings in Boise Cascade, L.L.C. $BCC

Franklin Resources Inc. reduced its position in Boise Cascade, L.L.C. (NYSE:BCC) by 38.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,466 shares of the construction company’s stock after selling 15,838 shares during the period. Franklin Resources Inc.’s holdings in Boise Cascade were worth $2,211,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BCC. Caxton Associates LLP purchased a new stake in shares of Boise Cascade during the first quarter worth about $1,402,000. Intech Investment Management LLC boosted its stake in Boise Cascade by 13.4% in the 1st quarter. Intech Investment Management LLC now owns 41,941 shares of the construction company’s stock worth $4,114,000 after purchasing an additional 4,963 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Boise Cascade by 12.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 39,811 shares of the construction company’s stock worth $3,456,000 after purchasing an additional 4,414 shares during the last quarter. Strs Ohio acquired a new position in Boise Cascade during the 1st quarter valued at approximately $1,069,000. Finally, Wedge Capital Management L L P NC raised its holdings in shares of Boise Cascade by 12.8% in the second quarter. Wedge Capital Management L L P NC now owns 132,641 shares of the construction company’s stock worth $11,516,000 after buying an additional 15,003 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BCC shares. Truist Financial dropped their price objective on shares of Boise Cascade from $101.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. DA Davidson reiterated a “buy” rating and set a $95.00 price target on shares of Boise Cascade in a research note on Thursday, November 20th. Weiss Ratings restated a “sell (d+)” rating on shares of Boise Cascade in a research note on Monday. BMO Capital Markets upgraded Boise Cascade from a “market perform” rating to an “outperform” rating and set a $100.00 target price on the stock in a research report on Wednesday, November 5th. Finally, Wall Street Zen downgraded shares of Boise Cascade from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $102.50.

Boise Cascade Stock Performance

Shares of BCC stock opened at $76.61 on Thursday. Boise Cascade, L.L.C. has a 52-week low of $65.14 and a 52-week high of $147.48. The company has a quick ratio of 1.69, a current ratio of 3.10 and a debt-to-equity ratio of 0.22. The stock has a market cap of $2.84 billion, a PE ratio of 15.14, a price-to-earnings-growth ratio of 6.22 and a beta of 1.27. The business has a 50-day simple moving average of $72.61 and a 200-day simple moving average of $81.75.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, November 3rd. The construction company reported $0.58 earnings per share for the quarter, meeting the consensus estimate of $0.58. Boise Cascade had a return on equity of 9.00% and a net margin of 2.96%.The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the business earned $2.33 earnings per share. Boise Cascade’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities analysts expect that Boise Cascade, L.L.C. will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Monday, December 1st will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, December 1st. Boise Cascade’s payout ratio is currently 17.39%.

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.