Quantbot Technologies LP Has $1.42 Million Position in Boise Cascade (NYSE:BCC)

Quantbot Technologies LP reduced its holdings in shares of Boise Cascade (NYSE:BCC - Free Report) by 28.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,086 shares of the construction company's stock after selling 3,952 shares during the quarter. Quantbot Technologies LP's holdings in Boise Cascade were worth $1,422,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BCC. B. Riley Wealth Advisors Inc. acquired a new position in Boise Cascade in the 1st quarter valued at $745,000. iA Global Asset Management Inc. acquired a new stake in shares of Boise Cascade in the first quarter worth approximately $82,000. Burney Co. acquired a new position in shares of Boise Cascade in the 1st quarter valued at $673,000. GAMMA Investing LLC grew its position in Boise Cascade by 33.4% during the second quarter. GAMMA Investing LLC now owns 787 shares of the construction company's stock valued at $94,000 after acquiring an additional 197 shares during the period. Finally, Linden Thomas Advisory Services LLC grew its holdings in shares of Boise Cascade by 1.6% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 19,995 shares of the construction company's stock worth $2,384,000 after purchasing an additional 313 shares during the period. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Price Performance

NYSE:BCC traded up $1.20 during mid-day trading on Friday, reaching $147.60. 121,113 shares of the stock were exchanged, compared to its average volume of 304,468. The business has a fifty day moving average price of $140.45 and a 200 day moving average price of $133.48. The firm has a market capitalization of $5.67 billion, a PE ratio of 14.45 and a beta of 1.53. 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 $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its 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). Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the firm earned $3.58 earnings per share. The firm's revenue for the quarter was down 6.6% on a year-over-year basis. Research analysts expect that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.57%. The ex-dividend date is Monday, December 2nd. Boise Cascade's payout ratio is 8.22%.

Wall Street Analyst Weigh In

Several research analysts have commented on BCC shares. Loop Capital assumed coverage on Boise Cascade in a research report on Friday, November 1st. They issued a "buy" rating and a $155.00 price objective on the stock. StockNews.com lowered shares of Boise Cascade from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. Truist Financial lifted their price objective on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. BMO Capital Markets lifted their target price on Boise Cascade from $130.00 to $136.00 and gave the company a "market perform" rating in a research note on Tuesday, October 22nd. Finally, Bank of America lifted 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $139.60.

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.