Marshall Wace LLP Buys 184,841 Shares of Boise Cascade (NYSE:BCC)

Marshall Wace LLP grew its stake in shares of Boise Cascade (NYSE:BCC) by 2,978.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 191,047 shares of the construction company’s stock after buying an additional 184,841 shares during the period. Marshall Wace LLP owned approximately 0.48% of Boise Cascade worth $22,777,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Westwood Holdings Group Inc. raised its position in shares of Boise Cascade by 107.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company’s stock valued at $133,278,000 after acquiring an additional 579,759 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Boise Cascade by 293.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock worth $36,346,000 after purchasing an additional 176,738 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Boise Cascade by 46.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company’s stock worth $45,661,000 after purchasing an additional 120,600 shares in the last quarter. Public Employees Retirement Association of Colorado grew its holdings in shares of Boise Cascade by 358.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 133,961 shares of the construction company’s stock valued at $17,329,000 after buying an additional 104,713 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Boise Cascade by 22.1% in the 4th quarter. First Trust Advisors LP now owns 304,436 shares of the construction company’s stock valued at $39,382,000 after buying an additional 55,077 shares during the period. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Stock Performance

Shares of Boise Cascade stock opened at $140.31 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.28 and a quick ratio of 2.08. The firm has a market cap of $5.54 billion, a price-to-earnings ratio of 11.41 and a beta of 1.52. The stock’s 50-day moving average is $132.10 and its 200-day moving average is $133.72. Boise Cascade has a one year low of $87.32 and a one year high of $154.67.

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

Boise Cascade Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a $0.21 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 0.60%. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20. Boise Cascade’s dividend payout ratio (DPR) is 6.83%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BCC shares. Bank of America lifted their target price on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a 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 report on Wednesday, August 7th. The Goldman Sachs Group lowered their target price on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.