4,895 Shares in Boise Cascade (NYSE:BCC) Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new position in shares of Boise Cascade (NYSE:BCC) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 4,895 shares of the construction company’s stock, valued at approximately $690,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BCC. Harbor Capital Advisors Inc. acquired a new stake in shares of Boise Cascade during the third quarter valued at approximately $28,000. Larson Financial Group LLC acquired a new stake in Boise Cascade during the 2nd quarter valued at $36,000. CWM LLC lifted its holdings in shares of 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 boosted its position in shares of Boise Cascade by 50.1% in the third quarter. Covestor Ltd now owns 689 shares of the construction company’s stock worth $97,000 after buying an additional 230 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Boise Cascade by 423.4% during the second quarter. Blue Trust Inc. now owns 963 shares of the construction company’s stock valued at $115,000 after buying an additional 779 shares in the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Price Performance

NYSE BCC opened at $136.26 on Friday. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $5.23 billion, a PE ratio of 13.33 and a beta of 1.53. Boise Cascade has a 12-month low of $113.89 and a 12-month high of $155.42. The company has a 50 day moving average price of $141.14 and a two-hundred day moving average price of $133.87.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.04). The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.58 EPS. As a group, equities analysts predict that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

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 dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade’s dividend payout ratio is 8.22%.

Wall Street Analysts Forecast Growth

BCC has been the subject of several research analyst reports. Truist Financial increased their price objective on Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Loop Capital assumed coverage on shares of Boise Cascade in a research report on Friday, November 1st. They set a “buy” rating and a $155.00 price objective on the stock. BMO Capital Markets increased 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 report on Tuesday, October 22nd. Bank of America boosted their price target on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. Finally, StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Boise Cascade currently has a consensus rating of “Hold” and a consensus 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.