Boise Cascade (NYSE:BCC) Shares Acquired by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL grew its stake in Boise Cascade (NYSE:BCC) by 27.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,948 shares of the construction company’s stock after purchasing an additional 862 shares during the period. Chesapeake Capital Corp IL’s holdings in Boise Cascade were worth $559,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new position in shares of Boise Cascade in the 3rd quarter valued at about $28,000. Larson Financial Group LLC purchased a new position in shares of Boise Cascade in the 2nd quarter valued at about $36,000. iA Global Asset Management Inc. purchased a new position in shares of Boise Cascade in the 1st quarter valued at about $82,000. CWM LLC increased its stake in shares of Boise Cascade by 26.5% in the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock valued at $95,000 after purchasing an additional 141 shares in the last quarter. Finally, Covestor Ltd increased its stake in shares of Boise Cascade by 50.1% in the 3rd quarter. Covestor Ltd now owns 689 shares of the construction company’s stock valued at $97,000 after purchasing an additional 230 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. BMO Capital Markets lifted their price target 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. Bank of America lifted their price target on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. Truist Financial lifted their price target on Boise Cascade from $154.00 to $161.00 and gave the company 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 target for the company. Finally, StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. One 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. Based on data from MarketBeat.com, Boise Cascade presently has an average rating of “Hold” and an average target price of $139.60.

Boise Cascade Price Performance

NYSE:BCC opened at $140.09 on Friday. Boise Cascade has a 12 month low of $106.38 and a 12 month high of $154.67. The stock has a 50 day moving average of $137.97 and a two-hundred day moving average of $132.80. 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 $5.38 billion, a P/E ratio of 13.71 and a beta of 1.53.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.04). The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. Boise Cascade’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.58 earnings per share. On average, analysts expect that Boise Cascade will post 9.57 earnings per share for the current fiscal 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 issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade’s dividend payout ratio is currently 8.22%.

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.