Invst LLC Buys 128 Shares of Boise Cascade (NYSE:BCC)

Invst LLC raised its stake in Boise Cascade (NYSE:BCC) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,060 shares of the construction company’s stock after acquiring an additional 128 shares during the period. Invst LLC’s holdings in Boise Cascade were worth $713,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BCC. Harbor Capital Advisors Inc. bought a new stake in shares of Boise Cascade in the third quarter worth about $28,000. Larson Financial Group LLC bought a new stake in Boise Cascade in the 2nd quarter worth approximately $36,000. CWM LLC increased its stake in Boise Cascade by 26.5% in the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock worth $95,000 after acquiring an additional 141 shares during the last quarter. Covestor Ltd raised its holdings in shares of Boise Cascade by 50.1% during the 3rd quarter. Covestor Ltd now owns 689 shares of the construction company’s stock worth $97,000 after acquiring an additional 230 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Boise Cascade by 423.4% during the 2nd quarter. Blue Trust Inc. now owns 963 shares of the construction company’s stock valued at $115,000 after acquiring an additional 779 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Price Performance

Shares of NYSE BCC opened at $142.43 on Wednesday. The company has a market cap of $5.47 billion, a PE ratio of 13.94 and a beta of 1.53. Boise Cascade has a fifty-two week low of $109.01 and a fifty-two week high of $155.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. The business has a 50-day simple moving average of $141.11 and a two-hundred day simple moving average of $133.80.

Boise Cascade (NYSE:BCC) last announced 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). 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 analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the business earned $3.58 earnings per share. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, equities analysts expect that Boise Cascade will post 9.57 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

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 paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.59%. Boise Cascade’s payout ratio is 8.22%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BCC. 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 report on Thursday, September 12th. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. BMO Capital Markets raised their price objective on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Loop Capital started coverage on Boise Cascade in a research report on Friday, November 1st. They set a “buy” rating and a $155.00 target price on the stock. Finally, Truist Financial increased their price target on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. One investment 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. According to MarketBeat.com, Boise Cascade presently has an average rating of “Hold” and a consensus 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.