3,822 Shares in Boise Cascade (NYSE:BCC) Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc acquired a new position in shares of Boise Cascade (NYSE:BCC) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,822 shares of the construction company’s stock, valued at approximately $454,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Boise Cascade by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock worth $61,680,000 after purchasing an additional 9,128 shares during the period. Principal Financial Group Inc. boosted its position in shares of Boise Cascade by 2.6% during the 4th quarter. Principal Financial Group Inc. now owns 208,323 shares of the construction company’s stock worth $24,761,000 after purchasing an additional 5,281 shares during the period. Bank of Montreal Can boosted its position in shares of Boise Cascade by 1,597.4% during the 3rd quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock worth $17,907,000 after purchasing an additional 119,103 shares during the period. FMR LLC boosted its position in shares of Boise Cascade by 158.9% during the 3rd quarter. FMR LLC now owns 126,123 shares of the construction company’s stock worth $17,781,000 after purchasing an additional 77,401 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Boise Cascade by 5.0% during the 4th quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock worth $14,454,000 after buying an additional 5,779 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Wall Street Analysts Forecast Growth

BCC has been the topic of a number of research reports. StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Truist Financial reduced their target price on shares of Boise Cascade from $161.00 to $157.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Loop Capital initiated coverage on shares of Boise Cascade in a report on Friday, November 1st. They set a “buy” rating and a $155.00 target price on the stock. Finally, The Goldman Sachs Group reduced their target price on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $139.60.

Boise Cascade Price Performance

Shares of BCC opened at $106.98 on Monday. Boise Cascade has a twelve month low of $103.57 and a twelve month high of $155.42. The firm’s fifty day simple moving average is $123.15 and its 200-day simple moving average is $132.34. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 11.19 and a beta of 1.57. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). Boise Cascade had a net margin of 5.60% and a return on equity of 16.89%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.57 billion. Equities analysts forecast that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.79%. Boise Cascade’s payout ratio is 8.79%.

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.