4,895 Shares in Boise Cascade (NYSE:BCC) Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new stake in Boise Cascade (NYSE:BCC) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,895 shares of the construction company’s stock, valued at approximately $690,000.

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

Analysts Set New Price Targets

Several research firms recently commented on BCC. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. BMO Capital Markets raised their price target on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Bank of America increased their target price 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. Truist Financial raised their target price on shares of Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Loop Capital assumed coverage on shares of Boise Cascade in a research note on Friday, November 1st. They issued a “buy” rating and a $155.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $139.60.

Boise Cascade Price Performance

NYSE:BCC opened at $136.26 on Friday. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. The business’s 50-day moving average price is $141.14 and its 200 day moving average price is $133.87. Boise Cascade has a 52-week low of $113.89 and a 52-week high of $155.42. The firm has a market cap of $5.23 billion, a P/E ratio of 13.33 and a beta of 1.53.

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

Boise Cascade Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be given a $0.21 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 0.62%. Boise Cascade’s dividend payout ratio (DPR) is 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.