Citigroup Inc. Has $8.11 Million Stock Holdings in Boise Cascade (NYSE:BCC)

Citigroup Inc. boosted its stake in Boise Cascade (NYSE:BCC) by 49.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,546 shares of the construction company’s stock after purchasing an additional 18,933 shares during the period. Citigroup Inc.’s holdings in Boise Cascade were worth $8,113,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BCC. Charles Schwab Investment Management Inc. lifted its stake in shares of Boise Cascade by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock valued at $61,680,000 after acquiring an additional 9,128 shares during the last quarter. Intech Investment Management LLC raised its holdings in Boise Cascade by 98.3% in the 3rd quarter. Intech Investment Management LLC now owns 13,784 shares of the construction company’s stock valued at $1,943,000 after buying an additional 6,832 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Boise Cascade during the third quarter valued at $862,000. Segall Bryant & Hamill LLC raised its position in Boise Cascade by 2.0% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 14,254 shares of the construction company’s stock worth $2,010,000 after purchasing an additional 285 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in Boise Cascade by 55.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 27,791 shares of the construction company’s stock worth $3,918,000 after buying an additional 9,958 shares during the period. Institutional investors and hedge funds own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Bank of America raised their price objective on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. BMO Capital Markets boosted their price target 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. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Loop Capital assumed coverage on shares of Boise Cascade in a report on Friday, November 1st. They issued a “buy” rating and a $155.00 target price on the stock. Finally, Truist Financial upped their price target on shares of Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $139.60.

Boise Cascade Stock Up 0.9 %

Shares of NYSE:BCC opened at $147.66 on Friday. 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 has a 52-week low of $106.38 and a 52-week high of $155.42. The business’s 50 day simple moving average is $140.24 and its two-hundred day simple moving average is $133.40. The firm has a market cap of $5.67 billion, a P/E ratio of 14.45 and a beta of 1.53.

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

Boise Cascade Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.57%. 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.