Bank of Montreal Can Buys 119,103 Shares of Boise Cascade (NYSE:BCC)

Bank of Montreal Can grew its holdings in Boise Cascade (NYSE:BCC - Free Report) by 1,597.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 126,559 shares of the construction company's stock after purchasing an additional 119,103 shares during the period. Bank of Montreal Can owned about 0.33% of Boise Cascade worth $17,907,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Burney Co. acquired a new stake in Boise Cascade in the 1st quarter valued at $673,000. GAMMA Investing LLC raised its holdings in Boise Cascade by 33.4% during the second quarter. GAMMA Investing LLC now owns 787 shares of the construction company's stock worth $94,000 after acquiring an additional 197 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its position in Boise Cascade by 1.6% during the second quarter. Linden Thomas Advisory Services LLC now owns 19,995 shares of the construction company's stock valued at $2,384,000 after purchasing an additional 313 shares during the last quarter. QRG Capital Management Inc. grew its stake in Boise Cascade by 4.9% in the second quarter. QRG Capital Management Inc. now owns 30,715 shares of the construction company's stock valued at $3,662,000 after purchasing an additional 1,445 shares in the last quarter. Finally, Peak Financial Advisors LLC bought a new position in Boise Cascade in the second quarter valued at approximately $378,000. Institutional investors own 96.18% of the company's stock.

Boise Cascade Stock Performance

Boise Cascade stock traded up $1.20 during trading hours on Friday, hitting $147.60. The company had a trading volume of 121,113 shares, compared to its average volume of 257,777. The firm has a 50-day moving average of $140.45 and a 200 day moving average of $133.46. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 1.90. The firm has a market cap of $5.67 billion, a PE ratio of 14.44 and a beta of 1.53. Boise Cascade has a one year low of $106.38 and a one year high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share for the quarter, missing analysts' consensus estimates of $2.37 by ($0.04). The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion. Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. Boise Cascade's revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the business posted $3.58 EPS. On average, sell-side analysts expect that Boise Cascade will post 9.57 earnings per share 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 $0.21 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.57%. Boise Cascade's payout ratio is presently 8.22%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Loop Capital began coverage on shares of Boise Cascade in a report on Friday, November 1st. They set a "buy" rating and a $155.00 target price on the stock. StockNews.com cut shares of Boise Cascade from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. 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. Bank of America boosted 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. Finally, BMO Capital Markets raised their price objective on Boise Cascade from $130.00 to $136.00 and gave the company a "market perform" rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average 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.