Franklin Resources Inc. Purchases 335 Shares of Boise Cascade (NYSE:BCC)

Franklin Resources Inc. lifted its position in Boise Cascade (NYSE:BCC) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,958 shares of the construction company’s stock after acquiring an additional 335 shares during the period. Franklin Resources Inc. owned 0.11% of Boise Cascade worth $6,285,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BCC. Westwood Holdings Group Inc. raised its holdings in Boise Cascade by 107.7% in the second quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company’s stock worth $133,278,000 after purchasing an additional 579,759 shares in the last quarter. Marshall Wace LLP grew its position in shares of Boise Cascade by 2,978.4% in the 2nd quarter. Marshall Wace LLP now owns 191,047 shares of the construction company’s stock worth $22,777,000 after buying an additional 184,841 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Boise Cascade by 46.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company’s stock worth $45,661,000 after acquiring an additional 120,600 shares in the last quarter. Bank of Montreal Can lifted its position in Boise Cascade by 1,597.4% during the 3rd quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock valued at $17,907,000 after acquiring an additional 119,103 shares during the period. Finally, FMR LLC boosted its stake in Boise Cascade by 158.9% during the third quarter. FMR LLC now owns 126,123 shares of the construction company’s stock worth $17,781,000 after acquiring an additional 77,401 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

BCC has been the topic of several recent research reports. Loop Capital began coverage on Boise Cascade in a research note on Friday, November 1st. They issued a “buy” rating and a $155.00 price target on the stock. BMO Capital Markets increased their target price on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Bank of America increased their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research report on Thursday, September 12th. Finally, Truist Financial lifted their target price on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. One research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $139.60.

Boise Cascade Trading Down 0.2 %

Boise Cascade stock opened at $122.75 on Monday. Boise Cascade has a one year low of $113.89 and a one year high of $155.42. The business’s fifty day moving average is $139.84 and its 200 day moving average is $133.64. The stock has a market capitalization of $4.71 billion, a PE ratio of 12.01 and a beta of 1.53. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 1.90.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the business earned $3.58 EPS. The business’s revenue was down 6.6% compared to the same quarter last year. On average, sell-side analysts predict that Boise Cascade will post 9.57 EPS for the current year.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Monday, December 2nd. Boise Cascade’s dividend payout ratio (DPR) is presently 8.22%.

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.