Oliver Luxxe Assets LLC Buys 2,097 Shares of Boise Cascade (NYSE:BCC)

Oliver Luxxe Assets LLC increased its position in shares of Boise Cascade (NYSE:BCC) by 5.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 41,071 shares of the construction company’s stock after buying an additional 2,097 shares during the period. Oliver Luxxe Assets LLC’s holdings in Boise Cascade were worth $4,882,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Tidal Investments LLC grew its holdings in Boise Cascade by 341.9% in the third quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock worth $2,229,000 after purchasing an additional 12,231 shares during the period. Algert Global LLC boosted its holdings in Boise Cascade by 8.3% in the second quarter. Algert Global LLC now owns 79,277 shares of the construction company’s stock worth $9,451,000 after acquiring an additional 6,059 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Boise Cascade by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock valued at $61,680,000 after acquiring an additional 9,128 shares during the period. Seven Eight Capital LP increased its holdings in shares of Boise Cascade by 31.6% during the second quarter. Seven Eight Capital LP now owns 17,896 shares of the construction company’s stock valued at $2,134,000 after acquiring an additional 4,300 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Boise Cascade by 56.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 89,163 shares of the construction company’s stock worth $12,570,000 after purchasing an additional 32,303 shares in the last quarter. 96.18% of the stock is owned by institutional investors.

Boise Cascade Stock Performance

Shares of Boise Cascade stock traded up $1.61 during mid-day trading on Monday, hitting $120.35. 106,375 shares of the stock were exchanged, compared to its average volume of 222,657. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. The company has a market capitalization of $4.62 billion, a P/E ratio of 11.78 and a beta of 1.58. The company has a 50-day simple moving average of $136.06 and a 200 day simple moving average of $133.09. Boise Cascade has a 12 month low of $113.89 and a 12 month high of $155.42.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data 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). The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.58 EPS. Sell-side analysts anticipate that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.21 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 0.70%. Boise Cascade’s payout ratio is currently 8.22%.

Analysts Set New Price Targets

BCC has been the subject of a number of recent research reports. Truist Financial decreased their price target on shares of Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a research note on Monday. StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. BMO Capital Markets raised their price target on shares of Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Bank of America boosted their price objective on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a report on Thursday, September 12th. Finally, Loop Capital began coverage on Boise Cascade in a report on Friday, November 1st. They issued a “buy” rating and a $155.00 target price on the stock. 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $138.80.

About Boise Cascade

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.