Boise Cascade (NYSE:BCC) Shares Purchased by Verition Fund Management LLC

Verition Fund Management LLC grew its position in Boise Cascade (NYSE:BCC - Free Report) by 103.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,201 shares of the construction company's stock after acquiring an additional 10,263 shares during the quarter. Verition Fund Management LLC owned about 0.05% of Boise Cascade worth $2,848,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Algert Global LLC lifted its holdings in Boise Cascade by 8.3% during the 2nd quarter. Algert Global LLC now owns 79,277 shares of the construction company's stock valued at $9,451,000 after buying an additional 6,059 shares in the last quarter. Seven Eight Capital LP raised its stake in Boise Cascade by 31.6% in the second quarter. Seven Eight Capital LP now owns 17,896 shares of the construction company's stock worth $2,134,000 after buying an additional 4,300 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Boise Cascade by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company's stock worth $61,680,000 after buying an additional 9,128 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Boise Cascade by 56.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 89,163 shares of the construction company's stock valued at $12,570,000 after acquiring an additional 32,303 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of Boise Cascade by 6.2% in the 2nd quarter. Mackenzie Financial Corp now owns 5,728 shares of the construction company's stock worth $683,000 after acquiring an additional 333 shares in the last quarter. Institutional investors own 96.18% of the company's stock.

Boise Cascade Price Performance

Shares of BCC traded down $1.38 during mid-day trading on Thursday, hitting $145.52. 74,856 shares of the company were exchanged, compared to its average volume of 302,140. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 14.37 and a beta of 1.53. Boise Cascade has a 1-year low of $109.01 and a 1-year high of $155.42. The company has a 50 day moving average of $140.83 and a 200-day moving average of $133.65. 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 analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter in the previous year, the business posted $3.58 EPS. The company's revenue for the quarter was down 6.6% on a year-over-year basis. Analysts expect that Boise Cascade will post 9.57 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 0.58%. Boise Cascade's dividend payout ratio is currently 8.22%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Loop Capital started coverage on shares of Boise Cascade in a report on Friday, November 1st. They issued a "buy" rating and a $155.00 price target on the stock. Truist Financial raised their price target on 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 upped their price objective on shares of Boise Cascade from $130.00 to $136.00 and gave the company a "market perform" rating in a report on Tuesday, October 22nd. Bank of America lifted their target price 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, StockNews.com lowered shares of Boise Cascade from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target 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.