Paloma Partners Management Co Takes Position in Boise Cascade (NYSE:BCC)

Paloma Partners Management Co purchased a new stake in Boise Cascade (NYSE:BCC - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,695 shares of the construction company's stock, valued at approximately $521,000.

Other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of Boise Cascade by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,813,447 shares of the construction company's stock worth $335,419,000 after acquiring an additional 22,053 shares during the period. Westwood Holdings Group Inc. lifted its holdings 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. lifted its holdings in Boise Cascade by 2.4% during the 2nd quarter. American Century Companies Inc. now owns 897,137 shares of the construction company's stock worth $106,957,000 after purchasing an additional 21,030 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Boise Cascade by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company's stock worth $61,680,000 after purchasing an additional 9,128 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in 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 during the last quarter. 96.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BCC shares. StockNews.com cut Boise Cascade from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. Truist Financial upped their price target on Boise Cascade from $154.00 to $161.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Loop Capital began coverage on Boise Cascade in a research note on Friday, November 1st. They issued a "buy" rating and a $155.00 price objective on the stock. BMO Capital Markets upped their price target on Boise Cascade from $130.00 to $136.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 22nd. Finally, Bank of America increased their price objective on Boise Cascade from $120.00 to $124.00 and gave the stock an "underperform" rating in a research note on Thursday, September 12th. One 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $139.60.

Boise Cascade Stock Performance

NYSE BCC traded up $0.47 on Wednesday, hitting $146.90. 188,437 shares of the stock traded hands, compared to its average volume of 303,132. The business's fifty day moving average is $140.66 and its two-hundred day moving average is $133.56. 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 $5.64 billion, a price-to-earnings ratio of 14.33 and a beta of 1.53. 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 announced its quarterly earnings data 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 firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the company posted $3.58 earnings per share. Boise Cascade's revenue for the quarter was down 6.6% on a year-over-year basis. As a group, equities analysts anticipate that Boise Cascade will post 9.57 EPS 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. Shareholders of record on Monday, December 2nd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 0.57%. 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.