Jennison Associates LLC Invests $862,000 in Boise Cascade (NYSE:BCC)

Jennison Associates LLC acquired a new stake in Boise Cascade (NYSE:BCC - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,117 shares of the construction company's stock, valued at approximately $862,000.

A number of other institutional investors have also recently made changes to their positions in BCC. Dimensional Fund Advisors LP lifted its holdings in shares of Boise Cascade by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,813,447 shares of the construction company's stock valued at $335,419,000 after purchasing an additional 22,053 shares during the last quarter. Westwood Holdings Group Inc. grew its position in Boise Cascade by 107.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company's stock worth $133,278,000 after purchasing an additional 579,759 shares during the last quarter. American Century Companies Inc. increased its stake in Boise Cascade by 2.4% in the second quarter. American Century Companies Inc. now owns 897,137 shares of the construction company's stock valued at $106,957,000 after purchasing an additional 21,030 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Boise Cascade by 46.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company's stock worth $45,661,000 after buying an additional 120,600 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Boise Cascade by 293.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company's stock worth $36,346,000 after buying an additional 176,738 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. BMO Capital Markets increased their price objective 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 cut 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 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. 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. Finally, Truist Financial raised 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $139.60.

Boise Cascade Price Performance

Shares of NYSE:BCC traded up $3.42 on Friday, reaching $143.78. 219,327 shares of the company were exchanged, compared to its average volume of 253,578. 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 1-year low of $106.38 and a 1-year high of $154.67. The company has a 50-day moving average of $139.41 and a 200-day moving average of $133.00. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 14.07 and a beta of 1.53.

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 firm had revenue of $1.71 billion during 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 business's revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.58 EPS. Equities analysts forecast that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Monday, December 2nd. Boise Cascade's dividend payout ratio (DPR) is presently 8.22%.

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.