Point72 Asia Singapore Pte. Ltd. Takes Position in Boise Cascade (NYSE:BCC)

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Boise Cascade (NYSE:BCC - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,677 shares of the construction company's stock, valued at approximately $518,000.

A number of other institutional investors also recently bought and sold shares of BCC. Westwood Holdings Group Inc. increased its position in shares of Boise Cascade by 107.7% during the second quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company's stock valued at $133,278,000 after acquiring an additional 579,759 shares during the last quarter. Marshall Wace LLP increased its holdings in Boise Cascade by 2,978.4% in the 2nd 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 raised its position in Boise Cascade by 46.0% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company's stock valued at $45,661,000 after purchasing an additional 120,600 shares during the period. Bank of Montreal Can raised its position in Boise Cascade by 1,597.4% in the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company's stock valued at $17,907,000 after purchasing an additional 119,103 shares during the period. Finally, FMR LLC boosted its position in shares of Boise Cascade by 158.9% during the third quarter. FMR LLC now owns 126,123 shares of the construction company's stock worth $17,781,000 after buying an additional 77,401 shares during the period. 96.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BCC. Loop Capital assumed 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. Truist Financial upped their target price on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. StockNews.com downgraded shares of Boise Cascade from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. Bank of America increased their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the company an "underperform" rating in a research report on Thursday, September 12th. Finally, BMO Capital Markets boosted their target price on shares of Boise Cascade from $130.00 to $136.00 and gave the stock 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 given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $139.60.

Boise Cascade Stock Performance

Boise Cascade stock traded down $1.09 during midday trading on Tuesday, reaching $146.43. 140,073 shares of the stock traded hands, compared to its average volume of 250,084. Boise Cascade has a fifty-two week low of $109.01 and a fifty-two week high of $155.42. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 14.33 and a beta of 1.53. The firm has a fifty day moving average price of $140.66 and a two-hundred day moving average price of $133.56.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.37 by ($0.04). The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The business's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.58 earnings per share. On average, equities research analysts forecast that Boise Cascade will post 9.57 earnings per share for the current 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 dividend of $0.21 per share. The ex-dividend date 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 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.