Alpha DNA Investment Management LLC Grows Stock Holdings in Boise Cascade (NYSE:BCC)

Alpha DNA Investment Management LLC boosted its holdings in shares of Boise Cascade (NYSE:BCC) by 39.3% during the second quarter, Holdings Channel.com reports. The firm owned 2,671 shares of the construction company’s stock after acquiring an additional 753 shares during the period. Alpha DNA Investment Management LLC’s holdings in Boise Cascade were worth $318,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Aristeia Capital L.L.C. purchased a new stake in Boise Cascade during the second quarter valued at $425,000. Marshall Wace LLP raised its stake in Boise Cascade by 2,978.4% during the second quarter. Marshall Wace LLP now owns 191,047 shares of the construction company’s stock valued at $22,777,000 after purchasing an additional 184,841 shares in the last quarter. Bank of Montreal Can raised its stake in Boise Cascade by 1.9% during the second quarter. Bank of Montreal Can now owns 7,456 shares of the construction company’s stock valued at $890,000 after purchasing an additional 137 shares in the last quarter. Evergreen Capital Management LLC raised its stake in Boise Cascade by 107.1% during the second quarter. Evergreen Capital Management LLC now owns 7,241 shares of the construction company’s stock valued at $863,000 after purchasing an additional 3,745 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new stake in Boise Cascade during the second quarter valued at $1,124,000. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Trading Down 2.6 %

NYSE BCC opened at $138.16 on Thursday. The company’s 50-day moving average price is $131.94 and its 200-day moving average price is $133.68. 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 stock has a market cap of $5.45 billion, a PE ratio of 11.23 and a beta of 1.52. Boise Cascade has a 12 month low of $87.32 and a 12 month high of $154.67.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.16. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.67 earnings per share. Equities research analysts forecast that Boise Cascade will post 9.71 earnings per share for the current year.

Boise Cascade Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.61%. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, September 3rd. Boise Cascade’s dividend payout ratio is presently 6.83%.

Analyst Upgrades and Downgrades

BCC has been the topic of a number of analyst reports. Bank of America boosted their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research report on Thursday, September 12th. Truist Financial reiterated a “buy” rating and set a $154.00 price objective (down previously from $159.00) on shares of Boise Cascade in a research report on Wednesday, August 7th. The Goldman Sachs Group cut their price objective on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Boise Cascade currently has an average rating of “Hold” and an average target price of $128.00.

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.