Point72 Asia Singapore Pte. Ltd. Makes New $518,000 Investment in Boise Cascade (NYSE:BCC)

Point72 Asia Singapore Pte. Ltd. bought a new stake in Boise Cascade (NYSE:BCC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,677 shares of the construction company’s stock, valued at approximately $518,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new position in Boise Cascade in the third quarter valued at about $28,000. Larson Financial Group LLC bought a new position in shares of Boise Cascade in the 2nd quarter valued at about $36,000. GAMMA Investing LLC grew its position in shares of Boise Cascade by 33.4% during the 2nd quarter. GAMMA Investing LLC now owns 787 shares of the construction company’s stock worth $94,000 after buying an additional 197 shares during the period. CWM LLC raised its stake in shares of Boise Cascade by 26.5% during the third quarter. CWM LLC now owns 673 shares of the construction company’s stock worth $95,000 after buying an additional 141 shares during the last quarter. Finally, Covestor Ltd raised its stake in shares of Boise Cascade by 50.1% during the third quarter. Covestor Ltd now owns 689 shares of the construction company’s stock worth $97,000 after buying an additional 230 shares during the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Price Performance

BCC opened at $147.52 on Tuesday. The company has a fifty day simple moving average of $140.57 and a 200 day simple moving average of $133.48. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. The stock has a market cap of $5.66 billion, a P/E ratio of 14.43 and a beta of 1.53. Boise Cascade has a 12 month low of $109.01 and a 12 month high of $155.42.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results 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 business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the company earned $3.58 earnings per share. The firm’s revenue was down 6.6% compared to the same quarter last year. On average, research analysts expect that Boise Cascade will post 9.57 EPS for the current year.

Boise Cascade Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have issued reports on BCC shares. Truist Financial raised their price objective on shares of Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Bank of America upped 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 raised 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. Finally, Loop Capital initiated 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average 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.