Skandinaviska Enskilda Banken AB publ Decreases Stake in Boise Cascade, L.L.C. $BCC

Skandinaviska Enskilda Banken AB publ trimmed its position in shares of Boise Cascade, L.L.C. (NYSE:BCC) by 69.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,700 shares of the construction company’s stock after selling 39,500 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Boise Cascade were worth $1,537,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Boise Cascade in the 2nd quarter valued at approximately $39,818,000. Quadrature Capital Ltd acquired a new position in shares of Boise Cascade during the second quarter worth $276,000. Hsbc Holdings PLC increased its holdings in Boise Cascade by 165.5% in the second quarter. Hsbc Holdings PLC now owns 54,914 shares of the construction company’s stock valued at $4,784,000 after buying an additional 34,228 shares during the last quarter. Capital Fund Management S.A. acquired a new stake in Boise Cascade in the second quarter valued at $2,342,000. Finally, Aristides Capital LLC purchased a new stake in Boise Cascade during the 2nd quarter worth about $234,000. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BCC shares. The Goldman Sachs Group decreased their target price on Boise Cascade from $96.00 to $82.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. BMO Capital Markets raised shares of Boise Cascade from a “market perform” rating to an “outperform” rating and set a $100.00 price objective on the stock in a report on Wednesday, November 5th. Wall Street Zen cut shares of Boise Cascade from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Boise Cascade in a research note on Monday. Finally, Truist Financial reduced their price target on shares of Boise Cascade from $101.00 to $96.00 and set a “buy” rating for the company in a research report on Wednesday, September 17th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned 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 an average price target of $102.50.

Boise Cascade Trading Up 0.2%

NYSE BCC opened at $75.26 on Wednesday. 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 capitalization of $2.79 billion, a P/E ratio of 14.87, a P/E/G ratio of 6.22 and a beta of 1.27. Boise Cascade, L.L.C. has a 52-week low of $65.14 and a 52-week high of $149.99. The firm has a 50-day moving average price of $72.63 and a 200 day moving average price of $81.79.

Boise Cascade (NYSE:BCC) last issued its earnings results on Monday, November 3rd. The construction company reported $0.58 earnings per share for the quarter, hitting 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 for the quarter, compared to analyst estimates of $1.64 billion. During the same period in the prior year, the business posted $2.33 earnings per share. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. Equities research 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 disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Monday, December 1st will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.88 annualized dividend and a yield of 1.2%. Boise Cascade’s payout ratio is currently 17.39%.

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.