Geode Capital Management LLC lowered its holdings in shares of Boise Cascade (NYSE:BCC - Free Report) by 6.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,011,991 shares of the construction company's stock after selling 73,137 shares during the quarter. Geode Capital Management LLC owned 2.64% of Boise Cascade worth $142,694,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Westwood Holdings Group Inc. grew its position in 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 acquiring an additional 579,759 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of 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 purchasing an additional 184,841 shares during the period. Skandinaviska Enskilda Banken AB publ increased its position 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 valued at $45,661,000 after purchasing an additional 120,600 shares during the last quarter. Bank of Montreal Can lifted its position in Boise Cascade by 1,597.4% in the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company's stock worth $17,907,000 after buying an additional 119,103 shares during the last quarter. Finally, FMR LLC boosted its stake in Boise Cascade by 158.9% during the third quarter. FMR LLC now owns 126,123 shares of the construction company's stock worth $17,781,000 after buying an additional 77,401 shares during the period. 96.18% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on BCC shares. StockNews.com lowered shares of Boise Cascade from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. Loop Capital assumed coverage on Boise Cascade in a report on Friday, November 1st. They issued a "buy" rating and a $155.00 price target on the stock. Bank of America boosted their price objective on Boise Cascade from $120.00 to $124.00 and gave the company an "underperform" rating in a report on Thursday, September 12th. BMO Capital Markets increased 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. Finally, Truist Financial upped their price target on shares of Boise Cascade from $154.00 to $161.00 and gave the stock 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 data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $139.60.
Read Our Latest Stock Analysis on Boise Cascade
NYSE:BCC opened at $136.25 on Tuesday. 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 has a 1-year low of $113.89 and a 1-year high of $155.42. The company has a 50-day moving average of $141.04 and a 200 day moving average of $133.87. The firm has a market cap of $5.23 billion, a PE ratio of 13.33 and a beta of 1.53.
Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings data 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 net margin of 5.95% and a return on equity of 18.24%. Boise Cascade's revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.58 earnings per share. As a group, research analysts anticipate that Boise Cascade will post 9.57 EPS for the current fiscal year.
The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Monday, December 2nd. Boise Cascade's payout ratio is currently 8.22%.
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.
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