Y Intercept Hong Kong Ltd Purchases New Shares in Boise Cascade (NYSE:BCC)

Y Intercept Hong Kong Ltd bought a new stake in shares of Boise Cascade (NYSE:BCC - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,895 shares of the construction company's stock, valued at approximately $690,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of Boise Cascade by 423.4% during the second quarter. Blue Trust Inc. now owns 963 shares of the construction company's stock valued at $115,000 after acquiring an additional 779 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Boise Cascade by 247.6% in the second quarter. Raymond James & Associates now owns 15,143 shares of the construction company's stock worth $1,805,000 after buying an additional 10,786 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in shares of Boise Cascade in the second quarter worth $188,000. SummerHaven Investment Management LLC lifted its stake in shares of Boise Cascade by 1.5% during the second quarter. SummerHaven Investment Management LLC now owns 7,776 shares of the construction company's stock worth $927,000 after buying an additional 113 shares during the period. Finally, Louisiana State Employees Retirement System grew its holdings in shares of Boise Cascade by 1.5% during the second quarter. Louisiana State Employees Retirement System now owns 19,900 shares of the construction company's stock valued at $2,372,000 after buying an additional 300 shares during the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Bank of America lifted their price target on Boise Cascade from $120.00 to $124.00 and gave the stock an "underperform" rating in a research report on Thursday, September 12th. BMO Capital Markets lifted their target price on Boise Cascade from $130.00 to $136.00 and gave the stock a "market perform" rating in a report on Tuesday, October 22nd. 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 price target on the stock. StockNews.com cut shares of Boise Cascade from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. Finally, Truist Financial increased their price objective on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $139.60.

Boise Cascade Stock Performance

Boise Cascade stock traded down $3.58 during mid-day trading on Friday, hitting $136.26. The company had a trading volume of 175,880 shares, compared to its average volume of 300,280. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 13.33 and a beta of 1.53. Boise Cascade has a 12-month low of $113.89 and a 12-month high of $155.42. The company's fifty day moving average is $141.14 and its 200-day moving average is $133.86. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.04). The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The business's revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.58 earnings per share. Equities research analysts predict that Boise Cascade will post 9.57 EPS for the current year.

Boise Cascade Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade's dividend payout ratio (DPR) is presently 8.22%.

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.