Intech Investment Management LLC Boosts Stake in Boise Cascade (NYSE:BCC)

Intech Investment Management LLC raised its position in Boise Cascade (NYSE:BCC) by 98.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,784 shares of the construction company’s stock after purchasing an additional 6,832 shares during the quarter. Intech Investment Management LLC’s holdings in Boise Cascade were worth $1,943,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new position in Boise Cascade in the third quarter valued at approximately $28,000. Larson Financial Group LLC acquired a new position in shares of Boise Cascade during the 2nd quarter valued at $36,000. iA Global Asset Management Inc. purchased a new stake in Boise Cascade during the 1st quarter worth $82,000. GAMMA Investing LLC increased its holdings in Boise Cascade by 33.4% in the 2nd quarter. GAMMA Investing LLC now owns 787 shares of the construction company’s stock valued at $94,000 after purchasing an additional 197 shares in the last quarter. Finally, CWM LLC raised its position 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 during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Up 2.4 %

Shares of NYSE:BCC opened at $143.78 on Monday. Boise Cascade has a 12-month low of $106.38 and a 12-month high of $154.67. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The firm has a market cap of $5.52 billion, a PE ratio of 14.07 and a beta of 1.53. The company has a fifty day simple moving average of $139.41 and a 200 day simple moving average of $133.00.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 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 firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the business posted $3.58 earnings per share. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, equities research analysts anticipate that Boise Cascade will post 9.57 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The company 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 dividend yield of 0.58%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade’s dividend payout ratio is currently 8.22%.

Analysts Set New Price Targets

BCC has been the subject of several analyst reports. BMO Capital Markets upped their target price on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Bank of America boosted their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. Truist Financial raised their price target on shares of Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Loop Capital began coverage on shares of Boise Cascade in a report on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective on the stock. One equities 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 company’s stock. According to data from MarketBeat.com, the company currently has an average 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.