Point72 Asset Management L.P. Purchases Shares of 54,282 Boise Cascade (NYSE:BCC)

Point72 Asset Management L.P. acquired a new stake in shares of Boise Cascade (NYSE:BCC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 54,282 shares of the construction company’s stock, valued at approximately $7,653,000. Point72 Asset Management L.P. owned 0.14% of Boise Cascade at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Algert Global LLC grew its stake in shares of Boise Cascade by 8.3% during the 2nd quarter. Algert Global LLC now owns 79,277 shares of the construction company’s stock valued at $9,451,000 after acquiring an additional 6,059 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Boise Cascade by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock valued at $61,680,000 after acquiring an additional 9,128 shares during the period. Seven Eight Capital LP grew its stake in shares of Boise Cascade by 31.6% during the 2nd quarter. Seven Eight Capital LP now owns 17,896 shares of the construction company’s stock valued at $2,134,000 after acquiring an additional 4,300 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Boise Cascade by 56.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 89,163 shares of the construction company’s stock valued at $12,570,000 after acquiring an additional 32,303 shares during the period. Finally, Integrated Wealth Concepts LLC grew its stake in shares of Boise Cascade by 22.4% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 23,279 shares of the construction company’s stock valued at $3,282,000 after acquiring an additional 4,257 shares during the period. 96.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BCC has been the subject of a number of recent research reports. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Truist Financial upped their price target on Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. 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. BMO Capital Markets upped their price target 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, Bank of America upped their price target on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $139.60.

Boise Cascade Stock Up 1.0 %

Shares of BCC opened at $145.86 on Friday. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of 14.27 and a beta of 1.53. Boise Cascade has a 1 year low of $109.01 and a 1 year high of $155.42. The business’s 50 day simple moving average is $141.00 and its 200-day simple moving average is $133.75. 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 (NYSE:BCC) last issued 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). 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%. The firm’s revenue was down 6.6% on a year-over-year basis. During the same period last year, the company earned $3.58 earnings per share. As a group, equities analysts expect that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

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 issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 0.58%. Boise Cascade’s dividend payout ratio (DPR) is 8.22%.

Boise Cascade Company 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.