Barclays PLC increased its stake in Boise Cascade (NYSE:BCC - Free Report) by 174.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 90,366 shares of the construction company's stock after acquiring an additional 57,403 shares during the quarter. Barclays PLC owned approximately 0.24% of Boise Cascade worth $12,739,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Westwood Holdings Group Inc. increased its stake in Boise Cascade by 107.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company's stock worth $133,278,000 after purchasing an additional 579,759 shares in the last quarter. Marshall Wace LLP boosted its holdings 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 worth $22,777,000 after buying an additional 184,841 shares during the period. Skandinaviska Enskilda Banken AB publ increased its position 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 worth $45,661,000 after acquiring an additional 120,600 shares in the last quarter. Bank of Montreal Can increased its position in shares of Boise Cascade by 1,597.4% in the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company's stock worth $17,907,000 after acquiring an additional 119,103 shares in the last quarter. Finally, FMR LLC raised its holdings 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 valued at $17,781,000 after acquiring an additional 77,401 shares during the period. 96.18% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the stock. StockNews.com lowered shares of Boise Cascade from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. BMO Capital Markets raised their target price on Boise Cascade from $130.00 to $136.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 22nd. Loop Capital started coverage on Boise Cascade in a research report on Friday, November 1st. They set a "buy" rating and a $155.00 price target on the stock. Bank of America raised their price objective 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, Truist Financial upped their target price on Boise Cascade from $154.00 to $161.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Boise Cascade has an average rating of "Hold" and a consensus target price of $139.60.
Read Our Latest Research Report on BCC
Boise Cascade Stock Down 0.0 %
Shares of NYSE:BCC traded down $0.01 during midday trading on Monday, hitting $136.25. 206,474 shares of the stock were exchanged, compared to its average volume of 299,893. The business's fifty day simple moving average is $141.04 and its two-hundred day simple moving average is $133.87. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. Boise Cascade has a 52-week low of $113.89 and a 52-week high of $155.42. The company has a market capitalization of $5.23 billion, a PE ratio of 13.33 and a beta of 1.53.
Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly 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 analysts' expectations of $1.72 billion. Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The firm's revenue for the quarter was down 6.6% on a year-over-year basis. During the same period last year, the business earned $3.58 earnings per share. As a group, research 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 announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Monday, December 2nd. Boise Cascade's dividend payout ratio (DPR) is presently 8.22%.
Boise Cascade Profile
(
Free Report)
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.
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