XTX Topco Ltd Acquires New Holdings in Boise Cascade (NYSE:BCC)

XTX Topco Ltd bought a new position in shares of Boise Cascade (NYSE:BCC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,861 shares of the construction company’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Measured Wealth Private Client Group LLC lifted its stake in shares of Boise Cascade by 1.8% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 5,273 shares of the construction company’s stock worth $809,000 after purchasing an additional 95 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in shares of Boise Cascade by 1.5% during the second quarter. SummerHaven Investment Management LLC now owns 7,776 shares of the construction company’s stock valued at $927,000 after buying an additional 113 shares during the last quarter. Miller Howard Investments Inc. NY boosted its holdings in shares of Boise Cascade by 2.1% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 5,892 shares of the construction company’s stock valued at $702,000 after buying an additional 124 shares in the last quarter. MorganRosel Wealth Management LLC grew its position in shares of Boise Cascade by 1.8% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 7,756 shares of the construction company’s stock worth $925,000 after buying an additional 138 shares during the last quarter. Finally, Bridge City Capital LLC raised its stake in shares of Boise Cascade by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 18,270 shares of the construction company’s stock worth $2,802,000 after acquiring an additional 143 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on BCC. Bank of America lifted their price target 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. The Goldman Sachs Group reduced their target price on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Truist Financial restated 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $128.00.

Boise Cascade Stock Performance

Shares of BCC stock opened at $141.49 on Monday. The business has a fifty day moving average of $132.32 and a 200 day moving average of $133.88. Boise Cascade has a 1 year low of $87.32 and a 1 year high of $154.67. 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 capitalization of $5.59 billion, a price-to-earnings ratio of 11.50 and a beta of 1.52.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Monday, August 5th. The construction company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.77 billion. During the same period last year, the business posted $3.67 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, research analysts expect that Boise Cascade will post 9.71 earnings per share for the current 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 dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.59%. Boise Cascade’s payout ratio is currently 6.83%.

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.