Tidal Investments LLC Increases Holdings in Boise Cascade (NYSE:BCC)

Tidal Investments LLC increased its position in Boise Cascade (NYSE:BCC - Free Report) by 341.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,808 shares of the construction company's stock after acquiring an additional 12,231 shares during the quarter. Tidal Investments LLC's holdings in Boise Cascade were worth $2,229,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BCC. Harbor Capital Advisors Inc. bought a new position in Boise Cascade in the 3rd quarter worth about $28,000. Larson Financial Group LLC bought a new position in shares of Boise Cascade in the second quarter worth approximately $36,000. CWM LLC raised its stake in Boise Cascade by 26.5% in the third quarter. CWM LLC now owns 673 shares of the construction company's stock valued at $95,000 after purchasing an additional 141 shares in the last quarter. Covestor Ltd lifted its position in Boise Cascade by 50.1% during the third quarter. Covestor Ltd now owns 689 shares of the construction company's stock valued at $97,000 after purchasing an additional 230 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in Boise Cascade by 423.4% in the 2nd quarter. Blue Trust Inc. now owns 963 shares of the construction company's stock worth $115,000 after buying an additional 779 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company's stock.

Analyst Ratings Changes

BCC has been the subject of a number of research analyst reports. Loop Capital initiated coverage on shares of Boise Cascade in a report on Friday, November 1st. They set a "buy" rating and a $155.00 price objective for the company. StockNews.com downgraded Boise Cascade from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. BMO Capital Markets upped their price objective on Boise Cascade from $130.00 to $136.00 and gave the stock a "market perform" rating in a report on Tuesday, October 22nd. Truist Financial raised their price objective on Boise Cascade from $154.00 to $161.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Finally, Bank of America boosted their target price on Boise Cascade from $120.00 to $124.00 and gave the stock an "underperform" rating in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $139.60.

Boise Cascade Trading Down 2.3 %

Shares of NYSE BCC traded down $3.14 during midday trading on Tuesday, reaching $133.11. The company had a trading volume of 263,780 shares, compared to its average volume of 299,810. The stock has a market cap of $5.11 billion, a PE ratio of 13.02 and a beta of 1.53. Boise Cascade has a one year low of $113.89 and a one year high of $155.42. The firm's fifty day moving average price is $141.04 and its 200-day moving average price is $133.87. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22.

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 company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the firm posted $3.58 EPS. The business's revenue for the quarter was down 6.6% compared to the same quarter last year. On average, equities research analysts anticipate that Boise Cascade will post 9.57 earnings per share for the current year.

Boise Cascade Announces Dividend

The company also recently declared 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 is Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 0.63%. Boise Cascade's payout ratio is currently 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.