Charles Schwab Investment Management Inc. Grows Stake in Boise Cascade (NYSE:BCC)

Charles Schwab Investment Management Inc. lifted its stake in shares of Boise Cascade (NYSE:BCC) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 437,509 shares of the construction company’s stock after purchasing an additional 9,128 shares during the period. Charles Schwab Investment Management Inc. owned 1.14% of Boise Cascade worth $61,680,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new stake in Boise Cascade during the 3rd quarter worth approximately $28,000. Larson Financial Group LLC bought a new position in Boise Cascade during the 2nd quarter valued at approximately $36,000. iA Global Asset Management Inc. purchased a new stake in Boise Cascade in the first quarter worth $82,000. GAMMA Investing LLC boosted its holdings in Boise Cascade by 33.4% in the second quarter. GAMMA Investing LLC now owns 787 shares of the construction company’s stock valued at $94,000 after acquiring an additional 197 shares in the last quarter. Finally, CWM LLC increased its position in Boise Cascade by 26.5% during the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock valued at $95,000 after purchasing an additional 141 shares during the period. Institutional investors own 96.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on BCC shares. BMO Capital Markets raised their target price on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Bank of America raised 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. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Truist Financial increased their target price on Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Loop Capital initiated 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $139.60.

Boise Cascade Price Performance

Shares of BCC opened at $147.66 on Friday. Boise Cascade has a fifty-two week low of $106.38 and a fifty-two week high of $155.42. The firm’s 50-day simple moving average is $140.24 and its two-hundred day simple moving average is $133.40. The stock has a market cap of $5.67 billion, a PE ratio of 14.45 and a beta of 1.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period last year, the business earned $3.58 EPS. Analysts anticipate that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

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 given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade’s dividend payout ratio is presently 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.