Bridgewater Associates LP Makes New $262,000 Investment in Boise Cascade (NYSE:BCC)

Bridgewater Associates LP acquired a new stake in Boise Cascade (NYSE:BCC) during the third quarter, Holdings Channel reports. The institutional investor acquired 1,858 shares of the construction company’s stock, valued at approximately $262,000.

Several other institutional investors have also recently modified their holdings of BCC. Harbor Capital Advisors Inc. acquired a new position in Boise Cascade during the third quarter valued at $28,000. Larson Financial Group LLC acquired a new stake in Boise Cascade during the second quarter worth about $36,000. GAMMA Investing LLC grew its position in Boise Cascade by 33.4% in the second quarter. GAMMA Investing LLC now owns 787 shares of the construction company’s stock worth $94,000 after acquiring an additional 197 shares during the period. CWM LLC raised its holdings in Boise Cascade by 26.5% in the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock valued at $95,000 after buying an additional 141 shares during the period. Finally, Covestor Ltd grew its stake in shares of Boise Cascade by 50.1% in the third quarter. Covestor Ltd now owns 689 shares of the construction company’s stock valued at $97,000 after buying an additional 230 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 topic of a number of research reports. Bank of America increased their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a report on Thursday, September 12th. Truist Financial increased their price objective 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 cut Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. BMO Capital Markets boosted their price objective on 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, Loop Capital started coverage on Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Boise Cascade currently has a consensus rating of “Hold” and a consensus price target of $139.60.

Boise Cascade Stock Performance

NYSE:BCC opened at $146.43 on Wednesday. Boise Cascade has a 1 year low of $109.01 and a 1 year high of $155.42. The firm’s fifty day simple moving average is $140.66 and its 200 day simple moving average is $133.56. The firm has a market capitalization of $5.62 billion, a PE ratio of 14.33 and a beta of 1.53. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data 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 5.95% and a return on equity of 18.24%. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the company posted $3.58 EPS. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Boise Cascade will post 9.57 EPS for the current year.

Boise Cascade Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be issued a $0.21 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 0.57%. Boise Cascade’s dividend payout ratio is currently 8.22%.

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.