Boise Cascade (NYSE:BCC) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its stake in shares of Boise Cascade (NYSE:BCC - Free Report) by 6.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,011,991 shares of the construction company's stock after selling 73,137 shares during the quarter. Geode Capital Management LLC owned about 2.64% of Boise Cascade worth $142,694,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Westwood Holdings Group Inc. boosted its position in shares of Boise Cascade by 107.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company's stock worth $133,278,000 after buying an additional 579,759 shares in the last quarter. Marshall Wace LLP grew its position in shares of Boise Cascade by 2,978.4% in the second quarter. Marshall Wace LLP now owns 191,047 shares of the construction company's stock valued at $22,777,000 after purchasing an additional 184,841 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Boise Cascade by 46.0% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company's stock worth $45,661,000 after purchasing an additional 120,600 shares in the last quarter. Bank of Montreal Can raised its position in shares of Boise Cascade by 1,597.4% during the 3rd quarter. Bank of Montreal Can now owns 126,559 shares of the construction company's stock worth $17,907,000 after purchasing an additional 119,103 shares during the last quarter. Finally, FMR LLC lifted its stake in Boise Cascade by 158.9% in the 3rd quarter. FMR LLC now owns 126,123 shares of the construction company's stock valued at $17,781,000 after buying an additional 77,401 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Bank of America boosted their price target on Boise Cascade from $120.00 to $124.00 and gave the stock an "underperform" rating in a report on Thursday, September 12th. StockNews.com lowered shares of Boise Cascade from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. BMO Capital Markets boosted 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 report on Tuesday, October 22nd. Loop Capital started coverage on shares of Boise Cascade in a research note on Friday, November 1st. They issued a "buy" rating and a $155.00 target price for the company. Finally, Truist Financial increased 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $139.60.

Boise Cascade Trading Down 2.4 %

Shares of BCC stock traded down $3.21 on Tuesday, reaching $133.04. 282,263 shares of the stock were exchanged, compared to its average volume of 299,811. Boise Cascade has a 1-year low of $113.89 and a 1-year high of $155.42. The stock has a market cap of $5.11 billion, a P/E ratio of 13.02 and a beta of 1.53. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $141.04 and a two-hundred day moving average of $133.87.

Boise Cascade (NYSE:BCC - Get Free Report) last released 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). Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The firm had revenue of $1.71 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter last year, the business earned $3.58 earnings per share. The business's revenue for the quarter was down 6.6% compared to the same quarter last year. On average, research analysts anticipate that Boise Cascade will post 9.57 EPS for the current year.

Boise Cascade Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 0.63%. 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.