Citigroup Inc. Boosts Stock Position in Boise Cascade (NYSE:BCC)

Citigroup Inc. grew its stake in shares of Boise Cascade (NYSE:BCC - Free Report) by 49.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,546 shares of the construction company's stock after acquiring an additional 18,933 shares during the period. Citigroup Inc. owned about 0.15% of Boise Cascade worth $8,113,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. purchased a new position in Boise Cascade during the 1st quarter valued at about $745,000. iA Global Asset Management Inc. purchased a new position in Boise Cascade during the first quarter valued at approximately $82,000. Burney Co. purchased a new position in Boise Cascade during the first quarter valued at approximately $673,000. GAMMA Investing LLC lifted 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 buying an additional 197 shares during the period. Finally, Linden Thomas Advisory Services LLC boosted its position in Boise Cascade by 1.6% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 19,995 shares of the construction company's stock valued at $2,384,000 after acquiring an additional 313 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company's stock.

Boise Cascade Stock Performance

NYSE:BCC traded up $1.20 during midday trading on Friday, hitting $147.60. The company's stock had a trading volume of 121,113 shares, compared to its average volume of 304,468. Boise Cascade has a fifty-two week low of $106.38 and a fifty-two week high of $155.42. 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 P/E ratio of 14.45 and a beta of 1.53. The firm's 50 day moving average is $140.45 and its 200-day moving average is $133.48.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.04). The business 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 company'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 EPS. Equities analysts anticipate 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. Investors of record on Monday, December 2nd will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.57%. The ex-dividend date is Monday, December 2nd. Boise Cascade's dividend payout ratio (DPR) is 8.22%.

Analyst Upgrades and Downgrades

BCC has been the topic of several analyst reports. StockNews.com lowered Boise Cascade from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. Bank of America lifted their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an "underperform" rating in a research report on Thursday, September 12th. Loop Capital began coverage on shares of Boise Cascade in a research report on Friday, November 1st. They set a "buy" rating and a $155.00 target price for the company. BMO Capital Markets lifted their price target on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a "market perform" rating in a report on Tuesday, October 22nd. Finally, Truist Financial raised their price objective on Boise Cascade from $154.00 to $161.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Boise Cascade presently has an average rating of "Hold" and a consensus target price of $139.60.

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.