Charles Schwab Investment Management Inc. Purchases 9,128 Shares of Boise Cascade (NYSE:BCC)

Charles Schwab Investment Management Inc. lifted its stake in Boise Cascade (NYSE:BCC - Free Report) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 437,509 shares of the construction company's stock after purchasing an additional 9,128 shares during the period. Charles Schwab Investment Management Inc. owned 1.14% of Boise Cascade worth $61,680,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BCC. Harbor Capital Advisors Inc. acquired a new position in shares of Boise Cascade during the third quarter worth about $28,000. Larson Financial Group LLC acquired a new position in shares of Boise Cascade during the 2nd quarter worth about $36,000. iA Global Asset Management Inc. bought a new position in shares of Boise Cascade in the 1st quarter valued at about $82,000. GAMMA Investing LLC increased its position in shares of Boise Cascade by 33.4% in the second quarter. GAMMA Investing LLC now owns 787 shares of the construction company's stock valued at $94,000 after acquiring an additional 197 shares during the last quarter. Finally, CWM LLC raised its holdings in Boise Cascade by 26.5% during the third quarter. CWM LLC now owns 673 shares of the construction company's stock worth $95,000 after acquiring an additional 141 shares in the last quarter. 96.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BCC shares. BMO Capital Markets boosted their price target 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. StockNews.com downgraded shares of Boise Cascade from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. Loop Capital initiated 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. Truist Financial lifted their price objective on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Finally, Bank of America increased their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the company an "underperform" rating in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $139.60.

Boise Cascade Stock Up 0.8 %

Shares of BCC traded up $1.20 during trading hours on Friday, reaching $147.60. The stock had a trading volume of 121,113 shares, compared to its average volume of 304,468. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 14.45 and a beta of 1.53. The firm has a 50-day simple moving average of $140.45 and a 200 day simple moving average of $133.48. 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 has a 12 month low of $106.38 and a 12 month high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share for the quarter, missing the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted $3.58 earnings per share. Equities research analysts predict that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The business 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 0.57%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade's dividend payout ratio is currently 8.22%.

About Boise Cascade

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.