BNP Paribas Financial Markets Grows Stake in Boise Cascade (NYSE:BCC)

BNP Paribas Financial Markets increased its holdings in Boise Cascade (NYSE:BCC - Free Report) by 30.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,716 shares of the construction company's stock after buying an additional 4,860 shares during the period. BNP Paribas Financial Markets owned 0.05% of Boise Cascade worth $2,921,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in shares of Boise Cascade by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,813,447 shares of the construction company's stock valued at $335,419,000 after acquiring an additional 22,053 shares in the last quarter. Westwood Holdings Group Inc. increased its position in shares of Boise Cascade by 107.7% in the second 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 during the last quarter. American Century Companies Inc. raised its stake in Boise Cascade by 2.4% in the second quarter. American Century Companies Inc. now owns 897,137 shares of the construction company's stock valued at $106,957,000 after purchasing an additional 21,030 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Boise Cascade by 2.1% during 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 purchasing an additional 9,128 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in Boise Cascade by 46.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company's stock worth $45,661,000 after buying an additional 120,600 shares in the last quarter. Institutional investors own 96.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BCC shares. StockNews.com cut shares of Boise Cascade from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Truist Financial lifted their price target on Boise Cascade from $154.00 to $161.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Loop Capital assumed coverage on Boise Cascade in a research report on Friday, November 1st. They set a "buy" rating and a $155.00 price objective on the stock. Bank of America boosted their target price 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 increased 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Boise Cascade presently has an average rating of "Hold" and a consensus target price of $139.60.

Boise Cascade Trading Up 1.0 %

Shares of NYSE BCC traded up $1.39 during midday trading on Friday, reaching $145.83. The company had a trading volume of 170,401 shares, compared to its average volume of 302,048. The stock has a market cap of $5.60 billion, a PE ratio of 14.27 and a beta of 1.53. Boise Cascade has a one year low of $109.01 and a one year high of $155.42. The firm's fifty day moving average price is $141.00 and its 200-day moving average price is $133.78. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22.

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

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade's dividend payout ratio (DPR) is presently 8.22%.

Boise Cascade 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.