Fmr LLC Raises Stock Position in Boise Cascade (NYSE:BCC)

FMR LLC lifted its position in shares of Boise Cascade (NYSE:BCC - Free Report) by 158.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,123 shares of the construction company's stock after acquiring an additional 77,401 shares during the quarter. FMR LLC owned approximately 0.33% of Boise Cascade worth $17,781,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new stake in Boise Cascade in the third quarter valued at $28,000. Larson Financial Group LLC bought a new position in Boise Cascade during the second quarter valued at about $36,000. CWM LLC raised its holdings in shares of Boise Cascade by 26.5% in the 3rd quarter. CWM LLC now owns 673 shares of the construction company's stock worth $95,000 after purchasing an additional 141 shares during the period. Covestor Ltd increased its stake in shares of Boise Cascade by 50.1% in the third quarter. Covestor Ltd now owns 689 shares of the construction company's stock worth $97,000 after purchasing an additional 230 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Boise Cascade by 423.4% in the second quarter. Blue Trust Inc. now owns 963 shares of the construction company's stock worth $115,000 after acquiring an additional 779 shares during the period. Institutional investors own 96.18% of the company's stock.

Boise Cascade Stock Performance

Shares of BCC stock traded up $0.05 during mid-day trading on Wednesday, reaching $142.48. 215,813 shares of the company's stock traded hands, compared to its average volume of 301,189. Boise Cascade has a 12 month low of $109.01 and a 12 month high of $155.42. The firm has a market capitalization of $5.47 billion, a PE ratio of 13.94 and a beta of 1.53. The firm has a 50 day moving average price of $141.11 and a two-hundred day moving average price of $133.80. 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 (NYSE:BCC - Get Free Report) last posted its 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). Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The company had revenue of $1.71 billion for the quarter, compared to analysts' expectations of $1.72 billion. During the same period in the previous year, the business posted $3.58 earnings per share. The business's revenue was down 6.6% on a year-over-year basis. On average, research analysts forecast that Boise Cascade will post 9.57 EPS for the current 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 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade's dividend payout ratio is currently 8.22%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Bank of America boosted their price target on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an "underperform" rating in a research note on Thursday, September 12th. BMO Capital Markets increased their target price 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. Truist Financial raised their price objective on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. StockNews.com downgraded shares of Boise Cascade from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Finally, Loop Capital started coverage on shares of Boise Cascade in a research note on Friday, November 1st. They set a "buy" rating and a $155.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $139.60.

Boise Cascade Company 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.