New York Life Investment Management LLC lessened its stake in shares of Boise Cascade (NYSE:BCC – Free Report) by 10.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 6,660 shares of the construction company’s stock after selling 748 shares during the quarter. New York Life Investment Management LLC’s holdings in Boise Cascade were worth $686,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Neo Ivy Capital Management acquired a new stake in shares of Boise Cascade during the 2nd quarter worth about $25,000. Quadrant Capital Group LLC lifted its stake in shares of Boise Cascade by 27.3% during the 2nd quarter. Quadrant Capital Group LLC now owns 429 shares of the construction company’s stock worth $39,000 after buying an additional 92 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Boise Cascade by 76.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 433 shares of the construction company’s stock worth $45,000 after buying an additional 187 shares during the last quarter. CWM LLC lifted its stake in shares of Boise Cascade by 43.9% during the 2nd quarter. CWM LLC now owns 580 shares of the construction company’s stock worth $52,000 after buying an additional 177 shares during the last quarter. Finally, Point72 Hong Kong Ltd lifted its stake in shares of Boise Cascade by 340.0% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,782 shares of the construction company’s stock worth $106,000 after buying an additional 1,377 shares during the last quarter. Institutional investors and hedge funds own 91.75% of the company’s stock.
Analyst Ratings Changes
Several analysts have weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Boise Cascade from $114.00 to $129.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Bank of America cut shares of Boise Cascade from a “neutral” rating to an “underperform” rating and set a $111.00 price objective for the company. in a research note on Monday, October 16th. BMO Capital Markets dropped their price objective on shares of Boise Cascade from $115.00 to $112.00 and set a “market perform” rating for the company in a research note on Tuesday, November 7th. Finally, Truist Financial lifted their price objective on shares of Boise Cascade from $126.00 to $156.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $121.20.
Boise Cascade Price Performance
Shares of NYSE:BCC opened at $137.66 on Friday. The firm has a 50 day moving average of $127.25 and a 200-day moving average of $111.88. The stock has a market capitalization of $5.45 billion, a PE ratio of 10.90 and a beta of 1.61. The company has a current ratio of 3.55, a quick ratio of 2.57 and a debt-to-equity ratio of 0.21. Boise Cascade has a 12 month low of $59.32 and a 12 month high of $139.63.
Boise Cascade Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, February 23rd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Thursday, February 22nd. Boise Cascade’s payout ratio is presently 6.33%.
In other news, Director Sue Ying Taylor sold 1,503 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $113.49, for a total value of $170,575.47. Following the completion of the transaction, the director now directly owns 8,139 shares in the company, valued at approximately $923,695.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.98% of the company’s stock.
Boise Cascade Company 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 lumber products.
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