Tidal Investments LLC raised its stake in Boise Cascade (NYSE:BCC - Free Report) by 341.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,808 shares of the construction company's stock after acquiring an additional 12,231 shares during the period. Tidal Investments LLC's holdings in Boise Cascade were worth $2,229,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of BCC. Algert Global LLC grew its holdings in shares of Boise Cascade by 8.3% in the 2nd quarter. Algert Global LLC now owns 79,277 shares of the construction company's stock worth $9,451,000 after purchasing an additional 6,059 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Boise Cascade by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company's stock valued at $61,680,000 after buying an additional 9,128 shares in the last quarter. Seven Eight Capital LP grew its stake in Boise Cascade by 31.6% during the second quarter. Seven Eight Capital LP now owns 17,896 shares of the construction company's stock worth $2,134,000 after buying an additional 4,300 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Boise Cascade by 56.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 89,163 shares of the construction company's stock worth $12,570,000 after buying an additional 32,303 shares in the last quarter. Finally, Integrated Wealth Concepts LLC raised its stake in shares of Boise Cascade by 22.4% in the third quarter. Integrated Wealth Concepts LLC now owns 23,279 shares of the construction company's stock valued at $3,282,000 after acquiring an additional 4,257 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.
Shares of BCC stock opened at $136.25 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. Boise Cascade has a 12 month low of $113.89 and a 12 month high of $155.42. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 13.33 and a beta of 1.53. The stock has a 50-day moving average price of $141.04 and a 200 day moving average price of $133.87.
Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly 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 for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the firm earned $3.58 EPS. The firm's quarterly revenue was down 6.6% compared to the same quarter last year. Research analysts expect that Boise Cascade will post 9.57 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade's dividend payout ratio (DPR) is currently 8.22%.
A number of equities research analysts recently commented on the company. Loop Capital started coverage on Boise Cascade in a research report on Friday, November 1st. They set a "buy" rating and a $155.00 price target on the stock. BMO Capital Markets raised their target price 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. StockNews.com cut Boise Cascade from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. Bank of America increased their price objective 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. Finally, Truist Financial boosted their target price on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $139.60.
Read Our Latest Research Report on 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.
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