Federated Hermes Inc. increases stock positions in Boise Cascade (NYSE:BCC)

Federated Hermes Inc. increased its stake in Boise Cascade (NYSE:BCC – Free Report) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 170,183 shares of the construction company, after purchasing an additional 3,498 shares during the quarter. The interests of Federated Hermes Inc. in Boise Cascade were worth $22,015,000 at the time of the most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Neo Ivy Capital Management bought a new stake in Boise Cascade stock in the second quarter worth about $25,000. Global Retirement Partners LLC grew its holdings in Boise Cascade by 1,147.1% in the fourth quarter. Global Retirement Partners LLC now owns 212 shares of the construction company’s stock worth $28,000 after acquiring an additional 195 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of Boise Cascade by 76.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 433 shares of the construction company’s stock worth $45,000 after purchasing an additional 187 shares in the last quarter. Penserra Capital Management LLC acquired a new position in shares of Boise Cascade during the 3rd quarter worth $52,000. Finally, Blue Trust Inc. increased its stake in Boise Cascade shares by 58.1% in the fourth quarter. Blue Trust Inc. now owns 544 shares of the construction company, valued at $70,000, after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s shares.

Analyst upgrades and downgrades

Several research analysts have weighed in on BCC stock. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. The Goldman Sachs Group raised their price objective on Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Finally, Truist Financial raised their target price on Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, March 21. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of ‘Hold’ and a consensus price target of $125.00.

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Boise Cascade trading down 0.8%

Shares of Boise Cascade opened at $133.60 on Monday. Boise Cascade has a 1-year low of $64.39 and a 1-year high of $154.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 2.26. The company has a 50-day moving average of $140.13 and a 200-day moving average of $124.65. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 11.02 and a beta of 1.60.

Boise Cascade (NYSE:BCC – Get Free Report) last reported its quarterly results on Wednesday, February 21. The construction company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by ($0.01). The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.64 billion. Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. The company’s revenue increased 1.0% compared to the same quarter last year. During the same period last year, the company earned $2.95 in earnings per share. Sell-side analysts expect Boise Cascade to post earnings per share of 11.5 for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15. On Friday, February 23, shareholders of record received a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, February 22. This represents a dividend of $0.80 annually and a dividend yield of 0.60%. Boise Cascade’s dividend payout ratio (DPR) currently stands at 6.60%.

Insider activity

In related news, EVP Dean Michael Brown sold 11,117 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $139.09, for a total transaction of $1,546,263.53. Following the sale, the executive vice president now owns 40,237 shares of the company’s stock, valued at $5,596,564.33. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.98% of the company’s shares.

About Boise Cascade

(Free report)

Boise Cascade Company is engaged in the manufacturing of wood products and the 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 produces laminated veneer lumber and laminated beams used in headers and beams; I-beams for residential and commercial floor and roof systems and other structural applications; structural, exterior and industrial plywood panels; and ponderosa pine shop wood and planks of appearance quality.

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