Chesapeake Capital Corp IL Increases Position in Boise Cascade (NYSE:BCC)

Chesapeake Capital Corp IL grew its stake in Boise Cascade (NYSE:BCC) by 27.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,948 shares of the construction company’s stock after acquiring an additional 862 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Boise Cascade were worth $559,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BCC. Harbor Capital Advisors Inc. purchased a new position in shares of Boise Cascade in the 3rd quarter valued at $28,000. Larson Financial Group LLC acquired a new stake in shares of Boise Cascade in the 2nd quarter worth $36,000. iA Global Asset Management Inc. acquired a new stake in shares of Boise Cascade in the 1st quarter worth $82,000. GAMMA Investing LLC boosted its position 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 in the last quarter. Finally, CWM LLC boosted its position in shares of Boise Cascade by 26.5% in the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock worth $95,000 after purchasing an additional 141 shares in the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BCC has been the subject of a number of recent analyst reports. Loop Capital initiated coverage on Boise Cascade in a research report on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective for the company. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Bank of America raised 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. BMO Capital Markets raised their price objective on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Finally, Truist Financial lifted their price target on Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $139.60.

Boise Cascade Stock Performance

Shares of BCC opened at $140.09 on Friday. The stock has a 50-day moving average of $137.97 and a two-hundred day moving average of $132.80. Boise Cascade has a one year low of $106.38 and a one year high of $154.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. The stock 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 issued its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the firm posted $3.58 EPS. The business’s revenue was down 6.6% compared to the same quarter last year. As a group, research analysts predict that Boise Cascade will post 9.57 EPS for the current year.

Boise Cascade Announces Dividend

The business 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 $0.21 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 0.60%. Boise Cascade’s dividend payout ratio (DPR) is presently 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.