Boise Cascade (NYSE:BCC) Shares Bought by Seven Eight Capital LP

Seven Eight Capital LP grew its holdings in shares of Boise Cascade (NYSE:BCC) by 31.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,896 shares of the construction company’s stock after acquiring an additional 4,300 shares during the period. Seven Eight Capital LP’s holdings in Boise Cascade were worth $2,134,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. UniSuper Management Pty Ltd acquired a new position in Boise Cascade in the first quarter worth about $1,055,000. BNP Paribas Financial Markets grew its stake in Boise Cascade by 80.2% in the first quarter. BNP Paribas Financial Markets now owns 23,522 shares of the construction company’s stock worth $3,608,000 after purchasing an additional 10,467 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Boise Cascade by 1,809.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,659 shares of the construction company’s stock worth $1,638,000 after purchasing an additional 11,996 shares in the last quarter. Burney Co. acquired a new position in Boise Cascade in the first quarter worth about $673,000. Finally, Vanguard Group Inc. grew its stake in Boise Cascade by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 4,709,276 shares of the construction company’s stock worth $609,192,000 after purchasing an additional 35,963 shares in the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Stock Performance

BCC opened at $137.25 on Thursday. The business’s 50 day moving average is $130.77 and its 200-day moving average is $133.32. The stock has a market cap of $5.42 billion, a PE ratio of 11.16 and a beta of 1.52. The company has a current ratio of 3.28, a quick ratio of 2.08 and a debt-to-equity ratio of 0.21. Boise Cascade has a twelve month low of $87.32 and a twelve month 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, beating analysts’ consensus estimates of $2.68 by $0.16. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.67 earnings per share. On average, analysts predict that Boise Cascade will post 9.76 earnings per share for the current year.

Boise Cascade Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. Boise Cascade’s dividend payout ratio (DPR) is currently 6.83%.

Wall Street Analyst Weigh In

BCC has been the topic of a number of recent research reports. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Truist Financial reissued a “buy” rating and issued a $154.00 target price (down previously from $159.00) on shares of Boise Cascade in a report on Wednesday, August 7th. The Goldman Sachs Group cut their target price on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, Bank of America raised 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, 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.