Boise Cascade (NYSE:BCC) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC raised its holdings in Boise Cascade (NYSE:BCC - Free Report) by 98.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,784 shares of the construction company's stock after purchasing an additional 6,832 shares during the quarter. Intech Investment Management LLC's holdings in Boise Cascade were worth $1,943,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Algert Global LLC lifted its stake in shares of Boise Cascade by 8.3% in the second quarter. Algert Global LLC now owns 79,277 shares of the construction company's stock valued at $9,451,000 after purchasing an additional 6,059 shares during the period. Burney Co. acquired a new stake in shares of Boise Cascade during the 1st quarter valued at approximately $673,000. Seven Eight Capital LP boosted its stake in shares of Boise Cascade by 31.6% during the 2nd quarter. Seven Eight Capital LP now owns 17,896 shares of the construction company's stock worth $2,134,000 after acquiring an additional 4,300 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Boise Cascade by 56.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 89,163 shares of the construction company's stock worth $12,570,000 after acquiring an additional 32,303 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Boise Cascade by 293.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company's stock worth $36,346,000 after acquiring an additional 176,738 shares during the period. Institutional investors and hedge funds own 96.18% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on BCC shares. Loop Capital started coverage on Boise Cascade in a research note on Friday, November 1st. They set a "buy" rating and a $155.00 price target for the company. Bank of America upped their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the company an "underperform" rating in a report on Thursday, September 12th. Truist Financial boosted their price objective on shares of Boise Cascade from $154.00 to $161.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. StockNews.com downgraded Boise Cascade from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. Finally, 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 note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $139.60.

Boise Cascade Stock Up 7.8 %

Boise Cascade stock traded up $11.16 during midday trading on Monday, hitting $154.94. 109,833 shares of the stock were exchanged, compared to its average volume of 304,068. Boise Cascade has a 1 year low of $106.38 and a 1 year high of $154.94. 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 $5.95 billion, a P/E ratio of 15.06 and a beta of 1.53. The company has a 50 day moving average price of $139.41 and a two-hundred day moving average price of $133.00.

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 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 return on equity of 18.24% and a net margin of 5.95%. The firm's quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.58 EPS. On average, sell-side analysts predict that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.54%. The ex-dividend date is Monday, December 2nd. Boise Cascade's dividend payout ratio is currently 8.22%.

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.