Bank of Montreal Can Buys 119,103 Shares of Boise Cascade (NYSE:BCC)

Bank of Montreal Can raised its stake in Boise Cascade (NYSE:BCC) by 1,597.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 126,559 shares of the construction company’s stock after acquiring an additional 119,103 shares during the period. Bank of Montreal Can owned approximately 0.33% of Boise Cascade worth $17,907,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Westwood Holdings Group Inc. increased its holdings in shares of Boise Cascade by 107.7% in the second quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company’s stock worth $133,278,000 after purchasing an additional 579,759 shares during the last quarter. Marshall Wace LLP increased its stake in Boise Cascade by 2,978.4% in the 2nd quarter. Marshall Wace LLP now owns 191,047 shares of the construction company’s stock worth $22,777,000 after acquiring an additional 184,841 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Boise Cascade by 46.0% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company’s stock worth $45,661,000 after acquiring an additional 120,600 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of 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 during the last quarter. Finally, Great Lakes Advisors LLC grew its holdings in shares of Boise Cascade by 760.3% in the second quarter. Great Lakes Advisors LLC now owns 30,436 shares of the construction company’s stock valued at $3,629,000 after purchasing an additional 26,898 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BCC shares. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Bank of America increased 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. Truist Financial boosted 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 started coverage on Boise Cascade in a research note on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective for the company. Finally, BMO Capital Markets lifted their target price on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $139.60.

Boise Cascade Stock Up 0.8 %

Shares of NYSE BCC opened at $147.60 on Friday. Boise Cascade has a 1 year low of $106.38 and a 1 year high of $155.42. The firm has a 50-day simple moving average of $140.45 and a two-hundred day simple moving average of $133.48. The company has a market cap of $5.67 billion, a P/E ratio of 14.45 and a beta of 1.53. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 1.90.

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

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade’s dividend payout ratio is currently 8.22%.

Boise Cascade Company 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.