Boise Cascade (NYSE:BCC) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp increased its position in shares of Boise Cascade (NYSE:BCC) by 40.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,415 shares of the construction company’s stock after buying an additional 6,975 shares during the period. Van ECK Associates Corp owned 0.06% of Boise Cascade worth $3,269,000 as of its most recent filing with the SEC.

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 stake in shares of Boise Cascade in the third quarter valued at approximately $28,000. First Trust Direct Indexing L.P. lifted its position in shares of Boise Cascade by 7.3% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,893 shares of the construction company’s stock worth $267,000 after purchasing an additional 128 shares during the last quarter. GW Henssler & Associates Ltd. acquired a new position in Boise Cascade in the third quarter valued at approximately $211,000. Smith Group Asset Management LLC grew its holdings in shares of Boise Cascade by 10.0% during the third quarter. Smith Group Asset Management LLC now owns 4,773 shares of the construction company’s stock worth $673,000 after purchasing an additional 434 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Boise Cascade by 59.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,390 shares of the construction company’s stock valued at $1,606,000 after acquiring an additional 4,267 shares during the period. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. BMO Capital Markets increased their price target on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Truist Financial increased their target price on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday. Loop Capital began coverage on Boise Cascade in a research report on Friday, November 1st. They issued a “buy” rating and a $155.00 target price on the stock. Finally, Bank of America lifted their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Boise Cascade has a consensus rating of “Hold” and an average price target of $139.60.

Boise Cascade Stock Performance

BCC stock opened at $142.32 on Friday. The stock has a market cap of $5.47 billion, a P/E ratio of 13.93 and a beta of 1.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.08 and a current ratio of 3.13. The firm has a 50 day simple moving average of $136.52 and a 200 day simple moving average of $132.65. Boise Cascade has a 52 week low of $102.13 and a 52 week high of $154.67.

Boise Cascade (NYSE:BCC) last posted its earnings results 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 business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the firm earned $3.58 earnings per share. The business’s revenue was down 6.6% on a year-over-year basis. Research analysts anticipate that Boise Cascade will post 9.6 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be paid 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 yield of 0.59%. Boise Cascade’s dividend payout ratio is 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.