Empowered Funds LLC Increases Holdings in Boise Cascade (NYSE:BCC)

Empowered Funds LLC raised its stake in shares of Boise Cascade (NYSE:BCC) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,176 shares of the construction company’s stock after buying an additional 513 shares during the period. Empowered Funds LLC owned about 0.06% of Boise Cascade worth $2,517,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new stake in Boise Cascade during the 3rd quarter valued at $28,000. R Squared Ltd purchased a new stake in Boise Cascade during the 4th quarter valued at $29,000. Larson Financial Group LLC increased its stake in shares of Boise Cascade by 23.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after purchasing an additional 73 shares in the last quarter. CWM LLC increased its stake in shares of Boise Cascade by 26.5% in the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock worth $95,000 after purchasing an additional 141 shares in the last quarter. Finally, Covestor Ltd increased its stake in shares of Boise Cascade by 50.1% in the 3rd quarter. Covestor Ltd now owns 689 shares of the construction company’s stock worth $97,000 after purchasing an additional 230 shares in the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Boise Cascade Stock Up 1.7 %

Shares of NYSE BCC opened at $120.69 on Friday. The firm’s 50-day moving average price is $126.53 and its 200-day moving average price is $133.06. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of 11.81 and a beta of 1.57. Boise Cascade has a 12-month low of $113.38 and a 12-month high of $155.42.

Boise Cascade Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Monday, February 24th. Boise Cascade’s dividend payout ratio is 8.22%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BCC shares. Truist Financial reduced their price objective on Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Loop Capital started coverage on shares of Boise Cascade in a report on Friday, November 1st. They issued a “buy” rating and a $155.00 target price for the company. BMO Capital Markets increased their price objective on shares of Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group dropped their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Finally, StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $139.60.

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.