Barclays PLC Acquires 57,403 Shares of Boise Cascade (NYSE:BCC)

Barclays PLC increased its holdings in shares of Boise Cascade (NYSE:BCC) by 174.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,366 shares of the construction company’s stock after purchasing an additional 57,403 shares during the period. Barclays PLC owned approximately 0.24% of Boise Cascade worth $12,739,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Boise Cascade by 423.4% during the 2nd quarter. Blue Trust Inc. now owns 963 shares of the construction company’s stock worth $115,000 after buying an additional 779 shares in the last quarter. Raymond James & Associates increased its stake in shares of Boise Cascade by 247.6% in the 2nd quarter. Raymond James & Associates now owns 15,143 shares of the construction company’s stock valued at $1,805,000 after acquiring an additional 10,786 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in shares of Boise Cascade during the 2nd quarter valued at $188,000. SummerHaven Investment Management LLC boosted its stake in Boise Cascade by 1.5% during the second quarter. SummerHaven Investment Management LLC now owns 7,776 shares of the construction company’s stock worth $927,000 after acquiring an additional 113 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in Boise Cascade by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 19,900 shares of the construction company’s stock worth $2,372,000 after purchasing an additional 300 shares during the period. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Price Performance

Shares of NYSE BCC opened at $136.26 on Monday. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 13.33 and a beta of 1.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. Boise Cascade has a fifty-two week low of $113.89 and a fifty-two week high of $155.42. The firm’s 50-day simple moving average is $141.14 and its 200 day simple moving average is $133.86.

Boise Cascade (NYSE:BCC) last issued 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). Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the company earned $3.58 earnings per share. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, research analysts anticipate that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade’s payout ratio is currently 8.22%.

Analysts Set New Price Targets

Several research firms have weighed in on BCC. Loop Capital initiated coverage on shares of Boise Cascade in a research note on Friday, November 1st. They issued a “buy” rating and a $155.00 price target for the company. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Truist Financial increased their price target on Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. 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. Finally, 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 report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $139.60.

About Boise Cascade

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.