Moran Wealth Management LLC Sells 21,598 Shares of Boise Cascade, L.L.C. $BCC

Moran Wealth Management LLC reduced its stake in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 60.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,868 shares of the construction company’s stock after selling 21,598 shares during the quarter. Moran Wealth Management LLC’s holdings in Boise Cascade were worth $1,072,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada grew its stake in Boise Cascade by 4.0% in the 1st quarter. Royal Bank of Canada now owns 34,704 shares of the construction company’s stock worth $3,404,000 after acquiring an additional 1,332 shares in the last quarter. AQR Capital Management LLC grew its stake in Boise Cascade by 8.8% in the first quarter. AQR Capital Management LLC now owns 36,639 shares of the construction company’s stock worth $3,594,000 after purchasing an additional 2,966 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Boise Cascade by 1,638.4% during the 1st quarter. Jones Financial Companies Lllp now owns 4,120 shares of the construction company’s stock worth $404,000 after purchasing an additional 3,883 shares during the period. United Services Automobile Association bought a new stake in Boise Cascade during the 1st quarter valued at $258,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Boise Cascade by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 203,631 shares of the construction company’s stock worth $19,974,000 after buying an additional 3,978 shares during the period. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Trading Up 6.5%

NYSE BCC opened at $83.07 on Friday. Boise Cascade, L.L.C. has a 52 week low of $65.14 and a 52 week high of $131.27. The company has a 50 day moving average price of $73.42 and a 200 day moving average price of $79.47. 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 firm has a market cap of $3.08 billion, a PE ratio of 16.42 and a beta of 1.27.

Boise Cascade (NYSE:BCC) last announced its 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 net margin of 2.96% and a return on equity of 9.00%. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the firm earned $2.33 earnings per share. Boise Cascade’s revenue was down 2.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Boise Cascade, L.L.C. will post 10.15 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently weighed in on the company. The Goldman Sachs Group decreased their price objective on Boise Cascade from $96.00 to $82.00 and set a “neutral” rating for the company in a report on Monday, October 13th. DA Davidson restated a “buy” rating and issued a $95.00 price target on shares of Boise Cascade in a report on Thursday, November 20th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Boise Cascade in a research report on Monday, December 29th. BMO Capital Markets reissued an “outperform” rating on shares of Boise Cascade in a report on Thursday. Finally, Truist Financial boosted their price objective on shares of Boise Cascade from $88.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.83.

About Boise Cascade

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.