Boise Cascade (NYSE:BCC) Stock Holdings Lifted by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its stake in shares of Boise Cascade (NYSE:BCC) by 2.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 31,495 shares of the construction company’s stock after acquiring an additional 780 shares during the quarter. QRG Capital Management Inc.’s holdings in Boise Cascade were worth $4,440,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Van ECK Associates Corp boosted its position in shares of Boise Cascade by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 24,415 shares of the construction company’s stock valued at $3,269,000 after purchasing an additional 6,975 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of Boise Cascade in the third quarter worth about $28,000. First Trust Direct Indexing L.P. increased its position in shares of Boise Cascade by 7.3% in the third quarter. First Trust Direct Indexing L.P. now owns 1,893 shares of the construction company’s stock worth $267,000 after acquiring an additional 128 shares in the last quarter. GW Henssler & Associates Ltd. acquired a new stake in shares of Boise Cascade during the third quarter valued at approximately $211,000. Finally, Smith Group Asset Management LLC lifted its position in shares of Boise Cascade by 10.0% in the 3rd quarter. Smith Group Asset Management LLC now owns 4,773 shares of the construction company’s stock valued at $673,000 after acquiring an additional 434 shares in the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Stock Up 3.1 %

Shares of Boise Cascade stock opened at $138.43 on Wednesday. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 12.07 and a beta of 1.53. The stock has a 50-day simple moving average of $136.14 and a 200-day simple moving average of $132.51. Boise Cascade has a 52-week low of $101.82 and a 52-week high of $154.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.28 and a quick ratio of 2.08.

Boise Cascade (NYSE:BCC) last posted its 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 during the quarter, compared to analyst estimates of $1.72 billion. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. During the same quarter last year, the firm earned $3.58 earnings per share. Boise Cascade’s revenue was down 6.6% compared to the same quarter last year. On average, equities research analysts expect that Boise Cascade will post 9.69 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors 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 yield of 0.61%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade’s dividend payout ratio is presently 7.32%.

Wall Street Analyst Weigh In

Several research firms have weighed in on BCC. Truist Financial lifted their price objective on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. StockNews.com raised Boise Cascade from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group decreased their price objective on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Bank of America raised their price target 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. Finally, Loop Capital began coverage on shares of Boise Cascade in a research note on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.