Van ECK Associates Corp Acquires 6,975 Shares of Boise Cascade (NYSE:BCC)

Van ECK Associates Corp grew its stake in shares of Boise Cascade (NYSE:BCC - Free Report) by 40.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,415 shares of the construction company's stock after acquiring an additional 6,975 shares during the period. Van ECK Associates Corp owned 0.06% of Boise Cascade worth $3,269,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new position in shares of Boise Cascade during the 3rd quarter valued at $28,000. Larson Financial Group LLC purchased a new position in shares of Boise Cascade during the 2nd quarter valued at $36,000. iA Global Asset Management Inc. acquired a new stake in shares of Boise Cascade in the 1st quarter valued at $82,000. Daiwa Securities Group Inc. lifted its stake in shares of Boise Cascade by 500.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company's stock valued at $92,000 after purchasing an additional 500 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Boise Cascade by 33.4% in the 2nd quarter. GAMMA Investing LLC now owns 787 shares of the construction company's stock valued at $94,000 after purchasing an additional 197 shares during the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Loop Capital assumed coverage on shares of Boise Cascade in a research note on Friday, November 1st. They issued a "buy" rating and a $155.00 price objective for the company. BMO Capital Markets lifted their price objective on shares of Boise Cascade from $130.00 to $136.00 and gave the company a "market perform" rating in a research note on Tuesday, October 22nd. Truist Financial lifted their price objective 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 lifted their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the company an "underperform" rating in a research note on Thursday, September 12th. Finally, StockNews.com lowered shares of Boise Cascade from a "buy" rating to a "hold" rating in a research note on Wednesday. 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. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $139.60.

Boise Cascade Stock Performance

Boise Cascade stock traded up $1.47 on Friday, reaching $142.32. 291,300 shares of the stock were exchanged, compared to its average volume of 253,882. The stock has a market cap of $5.47 billion, a PE ratio of 13.93 and a beta of 1.53. The company has a current ratio of 3.13, a quick ratio of 2.08 and a debt-to-equity ratio of 0.22. Boise Cascade has a twelve month low of $102.13 and a twelve month high of $154.67. The firm has a fifty day moving average price of $136.52 and a two-hundred day moving average price of $132.62.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing analysts' consensus estimates of $2.37 by ($0.04). The company had revenue of $1.71 billion for 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 firm's quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.58 EPS. Sell-side analysts anticipate that Boise Cascade will post 9.6 EPS for the current year.

Boise Cascade Dividend Announcement

The business also recently disclosed 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 0.59%. The ex-dividend date is Monday, December 2nd. Boise Cascade's dividend payout ratio is currently 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.