Harbor Capital Advisors Inc. Invests $28,000 in Boise Cascade (NYSE:BCC)

Harbor Capital Advisors Inc. purchased a new position in Boise Cascade (NYSE:BCC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 200 shares of the construction company’s stock, valued at approximately $28,000.

Other large investors have also recently made changes to their positions in the company. UniSuper Management Pty Ltd bought a new position in shares of Boise Cascade in the 1st quarter worth $1,055,000. Algert Global LLC raised its position in shares of Boise Cascade by 8.3% in the 2nd quarter. Algert Global LLC now owns 79,277 shares of the construction company’s stock worth $9,451,000 after acquiring an additional 6,059 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Boise Cascade by 80.2% in the 1st quarter. BNP Paribas Financial Markets now owns 23,522 shares of the construction company’s stock worth $3,608,000 after acquiring an additional 10,467 shares in the last quarter. Burney Co. bought a new position in shares of Boise Cascade in the 1st quarter worth $673,000. Finally, Seven Eight Capital LP raised its position in shares of Boise Cascade by 31.6% in the 2nd quarter. Seven Eight Capital LP now owns 17,896 shares of the construction company’s stock worth $2,134,000 after acquiring an additional 4,300 shares in the last quarter. 96.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday. Loop Capital assumed coverage on Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 target price on the stock. 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 note on Thursday, September 12th. Truist Financial boosted their target price on Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, BMO Capital Markets boosted their target price on 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 research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Boise Cascade presently has a consensus rating of “Hold” and an average price target of $139.60.

Boise Cascade Stock Up 1.0 %

Shares of BCC stock opened at $142.32 on Friday. The stock’s 50-day simple moving average is $136.52 and its 200-day simple moving average is $132.69. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28. The firm has a market capitalization of $5.47 billion, a PE ratio of 13.93 and a beta of 1.53. Boise Cascade has a fifty-two week low of $102.13 and a fifty-two week high of $154.67.

Boise Cascade (NYSE:BCC) 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). The firm 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 17.98%. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.58 earnings per share. Equities analysts expect that Boise Cascade will post 9.69 earnings per share for the current year.

Boise Cascade Announces Dividend

The company 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. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade’s dividend payout ratio is presently 8.22%.

About Boise Cascade

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.