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

QRG Capital Management Inc. increased its position in shares of Boise Cascade (NYSE:BCC) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,495 shares of the construction company’s stock after purchasing an additional 780 shares during the quarter. QRG Capital Management Inc. owned 0.08% of Boise Cascade worth $4,440,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. bought a new position in shares of Boise Cascade in the 3rd quarter worth about $28,000. Larson Financial Group LLC bought a new position in Boise Cascade in the second quarter worth about $36,000. iA Global Asset Management Inc. acquired a new position in Boise Cascade in the first quarter valued at approximately $82,000. Daiwa Securities Group Inc. raised its position in shares of Boise Cascade by 500.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company’s stock worth $92,000 after purchasing an additional 500 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Boise Cascade by 33.4% in the 2nd quarter. GAMMA Investing LLC now owns 787 shares of the construction company’s stock worth $94,000 after purchasing an additional 197 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Trading Up 3.1 %

Shares of NYSE:BCC opened at $138.43 on Wednesday. The company has a 50 day moving average of $136.14 and a 200-day moving average of $132.51. The company has a current ratio of 3.28, a quick ratio of 2.08 and a debt-to-equity ratio of 0.21. The firm has a market cap of $5.47 billion, a P/E ratio of 12.07 and a beta of 1.53. Boise Cascade has a twelve month low of $101.82 and a twelve month high of $154.67.

Boise Cascade (NYSE:BCC) last issued its quarterly 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). Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the business posted $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, analysts anticipate that Boise Cascade will post 9.69 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade’s dividend payout ratio (DPR) is presently 7.32%.

Analyst Ratings Changes

A number of research analysts recently commented on BCC shares. StockNews.com upgraded Boise Cascade from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Truist Financial increased their price objective on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. The Goldman Sachs Group reduced their target price on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. BMO Capital Markets raised their price target on shares of Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Finally, Bank of America boosted their price objective on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Boise Cascade has a consensus rating of “Hold” and an average target price of $139.60.

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.